Thread regarding Chicago Bridge & Iron layoffs

Quiet

Not a peep from anyone. People are worried and fearing for their livelihoods, yet cbi nor McDermott care. Not a good start.

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All the rich pig execs and mgmt can rot in a shallow grave. They will not be missed.

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CBI got or will be getting rid of all Corp support personnel- woodlands office is dead and anyone saying otherwise is lying- of course senior management will cash out big time while among the little peoplenscramble for jobs that are not out there. Remember CFO ex MCD not gonna keep him around - why keep a sorry piece of garbage that killed 6 people or any of his direct reports- they will go too- smoke in ground project support probably ok until MCD gets head around domestic ops- then bye bye you too! Wish a whole lot of we execs straight to hell- but then since they already live there they won’t feel the difference

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Management is quiet because they know that most of them will be let go. The CEO of MDR turned over or eliminated roughly two-thirds of the senior management positions when he took over MDR in 2013. He likes a flat organization with direct line accountability. Its likely they're worried about their own jobs, sending out resumes, etc.

CBI still has enough backlog to keep the lights on for at least a couple of years, so the doom and gloom commentary is overdone. The vast majority of workers will be retained. The banks weren't willing to finance the current management team because they lost all credibility. MDR said they went through the key projects, visited the problem sites and we're comfortable with the overall risk. They said the construction/labor productivity assumptions were aggressive, but manageable with the new 3.3 billion line of credit and 2.2b of LOC and other financing.

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The sounds of crickets chirping is driving me daft! I long for, I NEED, more of management's self serving lies! FEED ME!

For every official line, ask yourself how is this propaganda going to control the masses and make a few people more money. They've been lying since this started and they will keep on lying. But they do not spend their energy just to soothe your edgy nerves. No they don't care about you. They spread propaganda to make them more money. As you listen to them keep silently repeating this mantra, "you're full of sh--, you're full of sh--, you're full o sh--." Remember you can tell he's lying because his lips are moving.

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Wake before the storm. If McDemmot does not gut CB&I Houston, Westchase and Rodgerdale, they will be in the same shape as CB&I is today in five years. To much unskilled labor that does not know how to execute a project. They only know to cut schedule and corners.

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