RE:management's value vs cost
The management value is Boat Anchor. They are transitioning their ceo so we are paying for two of them, they have 12 board members that highly paid and cost a fortune and not necassary. Exxon is paid i believe 25 million for managing syncrude. The company has no active crude hedging stategy and has lost the share holder a billion dollars in opportunity. Their currency strategy has cost the company more then 100 million dollars. The have no dividend targets and they reforecast their guidence multiple times a year and it is never accurate. They with hold pricing and production informaiton from the shareholds that was once public, because they are lazy. SCO has a premium value to WTI however the internal maketing group has difficulity marketing the crude for top dollar.
We have a ton of managment cost and little accountability. We should fire them all and hire three accounting clerks. They have not done anything the looks intelligent to me.