Tell me, what else has been done to move the company forward, besides inflating the numbers through closures and cuts? Please, I’m all ears.
One More...
The company plans to begin layoffs at its LA refinery in Dec, following its earlier decision to close the 139K-barrel-per-day facility by the end of 2025. The place which employs around 600 workers and 300 contractors, will start reducing its... — read more
Is it more than lip service?
My question to Mr. Lashier, ELT, and the Board. If you truly believe that being an integrated energy company is the best vision; then why not put YOUR money where your mouth is a buy? I mean actually buy PSX shares from your personal cash like... — read more
DEI Fallout
Saw that Target Stores recently got rid of two DEI champions - one of whom was Targets Chief Legal Officer and Chief Compliance Officer. Maybe the time has come Phillips.
Phillips 66 (PSX) to Start Laying Off Los Angeles Refinery Workers in December
Phillips 66 (NYSE:PSX) has around 600 employees and 300 contractors at the refinery. Some of the retained employees are expected to be transferred to the Los Angeles marine oil terminal, according to... — read more
Go Go’s Thank You is Valuable
Go Go’s recent extension of “a heart felt thank you” is very valuable and meaningful. It’s so valuable that it and $2.69 will get you a gallon of regular gasoline.
Should We be Worried
The CEO mentioned in a LinkedIn post that ~82% of employees voted with board in the proxy battle. I know the company is not supposed to know how any particular shareholder voted, but if they know how a group voted it might not take much effort to... — read more
What the Proxy Outcome Really Says
Any proxy fight that results in nominees from the outside getting appointed is a loss and an indictment of management. That's IR 101. The outcome says the institutional investors don't think Elliott's plan is necessarily the right track but something... — read more
Elliott Did Pretty Good
It’s easy to be down because Elliot didn’t get their full slate of 4 board members elected. But they get 2 when no other shareholder activist has been able to get 1 member elected. This is in spite of the fact that Vanguard, Black Rock and State... — read more
A merger of P66 Midstream and Targa?
Michael Heim (from Targa) elected to Phillips 66 Board
From Twitta
“BIG NEWS: Phillips 66 $PSX survives shareholder vote against Elliott: 2-2 split, sources tell @semafor. This despite ISS and GL both endorsing Elliott in its first ever US proxy vote. Prelim results released soon.”
Regardless of vote Laisher has got to go.
Regardless of vote - there is one conclusion that is pretty much universal - Laisher has got to go. He's a failed CEO. He's done miserably in the shareholder defense. He has no vision or can't articulate it. His commentary on the earnings calls make... — read more
Tomorrow's the Day
By this time tomorrow we'll know who won the proxy battle.
Corporate Governance ?
In the can’t catch a break category, P66 board structure is taken to task for failing to serve the interests of shareholders. Nothing shocking here, just evidence of the company leadership’s insular... — read more
California Pleadings
Phillips 66 has pleaded not guilty to unlawfully dumping wastewater in California. Come on Phillips, just own up to what you did and do better in the future. And while you’re at it, settle with Propel for what you were found guilty of doing to... — read more
Elliott Raises Stake
Elliott has raised their stake in P66. Do they know something?
CEO Sweepstakes
For the gambling types, after Elliot wins the proxy and "retires" the current ELT, who will be the next CEO? Greg Goff - Amber Energy Gary Simmons - Valero Rodney Dilon - Flint Hills Resources Eric Zimpfer - Cenovus Tim Roberts -... — read more
Talk about tone deaf
The company’s LinkedIn page just posted some nonsense about solar panels, all while Ellliott is picking up steam on a “concentrate on refining” message. Joe out of touch can you be?? Hopefully Elliott is taking notes on who is supporting “the white... — read more
Even after it dies, a duck's bill remains as hard and stiff as before. Investers plan to fire you but you still cry "I am excellent".
https://www.businesswire.com/news/home/20250513093473/en/Phillips-66-Issues-Statement-Following-Glass-Lewis-and-ISS-Reports
Elliott Picks Up Another One
Elliott has picked up another endorsement from a proxy advisory company, a company by the name of Investor Shareholder Services, ISS. This time the endorsement is for all 4 board candidates.
This is rich - ZG on the board of an ag company??!!
lmao if this doesn't lay bare the corruption and incestuous nature of corporate governance.... what qualifications or credentials does ZG possess to guide a tractor company?... — read more
Go go retiring?
Forced or realization she fu---d up the company? Elliot gonna take over now?
Latest Elliott Presentation
Their latest presentation is the best 1 yet. It demolishes every point that Go Go and The Board try to make!
Stuck between a rock and a hard place
The good people of P66 currently have two choices: GoGo and the ELT or Elliot. The only possible get out of jail free card is if a White Knight comes to the company's rescue. Presently, there are none on the horizon. On one hand there's the devil... — read more
Wood River Delays Startup
Wood River Refinery has delayed its startup after performing maintenance by at least 1 week. Didn’t Go Go say not more than a week ago that all turnarounds had been completed on time and under budget?
world class level presentation I have even seen
https://streamline66.com/wp-content/uploads/2025/04/Streamline-66-Elliotts-Perspectives-on-Value-Creation.pdf Such a great report, professional, world class level, great Elliotts!
The Presentation
Phillips 66 has posted a long presentation stating that the company is doing very well since Go Go took over in 2022 and how Elliott is wrong on everything. This presentation says a lot of things, but the one thing that stands out to me is that it... — read more
P66 stock owned by former employees
If Elliott is smart, they should actively be courting the hundreds of employees fired, laid off, let go for being over 55 years old, etc in the past couple of years for their proxy if they kept their P66 stock. There were SGL 20+ people let go by... — read more
Will Stony Stony Island open this Year?
Think GOGO has the guts to open this year. I’m sure Elliott isn’t happy about wasting cost on running the executive resort. Hired Help Cost of Boats Maintenance of Golf Course Food for employees Stony Jackets for guest Food & Booze Corporate Jet... — read more
What Leadership Looks Like
So while we fight with Elliott and are told to stay focused, our ELT, HR and IT leadership are flying around the world to Singapore and India, spending money we don’t have and broadcasting it to the world on social media.
Cost of proxy mailings
Sure would like to know the printing and postage cost of the multiple proxy mailings. Don't tell me that it cost the same as the SPD suitcase printing and mailing, which was $1MM. What a waste of paper, postage and company money.
Earnings
Well, 1st quarter earnings were poorer than the already low expectations. It's hard to rationalize major changes at the highest level are not required going forward.
Too Little, Too Late?
Go Go and the Board have increased the dividend by 5 cents a share. Is this an act of desperation that is too little, too late to stave off defeat in the proxy battle?
Look out below
Any thoughts on what will happen if Eliot doesn’t pick up any board seats? Will they continue to buy more stock and continue their fight or sell what they have and move on to the next opportunity?
The best Elliott has?
Has anyone actually watched the videos Elliott is putting out? The female nominee is insulting to other qualified board members. Send her back to the farm. And Pi$e is an Elliott lightweight. Even everyone there hates him. The guy defines... — read more
Elliot’s plan is simple
Spin midstream off, use the cash to buy back shares, pump stock price, bail. No real value created. Look at psx market cap vs outstanding shares compared to its peers. Psx has a higher market cap (more money invested in it) but it’s divided by more... — read more
Major Shareholders Slam P66 Performance
In a recent survey >60% of major shareholders expressed dissatisfaction with the performance of the company. For details refer to Streamline 66.