In the early nineties I was working for Sunoco in the Tulsa Refinery. An upper level guy comes down in the fall and tells us (thirty managers in the room) margins are down, we won't be taking our maintenance shutdown (turnaround). I raised my hand and asked whether the time to shut down was when you weren't making a lot of money. He said you just don't understand. I understood, he was manipulating the quarterly income figure. So we had to cancel contracts and pay cancellation charges for contractors who had mobilized to begin work. A shutdown was about 30 million.
Same guy comes back in March and says "we're making money, you can shut down in April". I raised my hand and asked whether the time to shut down was when you weren't making a lot of money. He said you just don't understand. We scrambled and spent extra money trying to get contractors lined up and couldn't get the best contractors, settling for lesser ones which cost us time and money during the shutdown.
Sunoco no longer owns any refineries.
It is such a big game. Wall Street uses indexes to measure how they think a company is doing. So every company spends money manipulating those indexes. Like leasing instead of buying so their asset base looks smaller for the same profit, or contract labor so their fixed labor looks smaller, even though they will need that labor every year.
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Today's Featured Article - Women and Tractors - by Teri Burkholder. The View from the Garage - Never a doubt, everything on our farm is a learning experience. I've been working very hard to get our two rundown Farmall A's sanded, primed , bondo�d, fiberglassed and painted before our big local tractor show called the Tulip Festival. My husband Ben came in the garage one rainy day to see if he could "help". Well if you knew Ben you wouldn't want him anywhere near your spray gun, fiberglass or bondo! So I pulled out the 2 old yucky looking magne
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