re: Rumor Shell is closing down its New Orleans operations

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The US is quick to point the blame at the Saudis but they are just doing what they always have.

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Exactly. When the whole world asked them to reduce their output (which was planned years in advance) to raise the prices they just simply said no.

Refusing to cut your output does not equate to raising your output and flooding the market. They're just holding steady and in the process will gain market share.

If anyone else in any other business were to do what they are doing they would be called practical, smart, etc.

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i guess i'm of the opinion that these CEO salaries being lowered wouldn't save anyone's jobs in this downturn.

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Same here. It just turns into a blame game, but when you are talking about one of the biggest worldwide players in arguably the largest and most important industry in the world, any amount of money followed by an M isn't really shite.

The arguments are really independent of eachother between if they made too much to begin with or if that amount of money could be better spent elsewhere.

The jobs that could be "saved" have to be supported by something. You don't just slash top-level salary to save jobs if the inherent reason the jobs were cut in the first place is the investment associated with those jobs was deemed unnecessary.

Let's say you are funding a 3-day concert, and you hire someone to run the event, who expects 10,000 people per day. He sets up 4 entrances with security at each one, but day one you only get 2,500 people. At the start of Day 2, are you expecting a resignation from the guy for forecasting 10,000 people, or expecting him to close 3 gates and fire the associated security personnel. Did you hire him to plan perfectly, or react to changing conditions accordingly?

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i guess i'm of the opinion that these CEO salaries being lowered wouldn't save anyone's jobs in this downturn.

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Save their jobs for what? No profits = no capital investment = no need for people of execute the projects. You can cut the CEO's salary, but there's still no need for the employees.

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You will notice these people driving slow in the left lane.

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ISWYDT

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I'm of the opinion that a good CEO is going to create more jobs than his salary could pay for.

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Not a single person on earth would be creating jobs at a major O&G company in this economic climate. Period.

You could say planning the recovery is planning job creation, and cutting the costs as much as possible aids the recovery. Theoretical job creation

Is saving a job the same as creating a job? Serious question.

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Did you hire him to plan perfectly, or react to changing conditions accordingly?

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Some of both, but primarily for the latter.

A rising tide lifts all boats, but the real sharp guys can keep the wheels on the bus when everyone else is panicking.

OK, so why would they close down the Covington location?

I cant see them doing it but who knows.

Fred, you are correct with what you said but they are also compensated so well because not only are you gone away from home and family but because the work is dangerous. All the people bitching need to come work a month of 12 hour hitches were you can be blown up, crushed, or fall to your death at any time.