Topics regarding layoffs at Phillips 66

Topics regarding layoffs at Phillips 66

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.

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 

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 

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 

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 

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| 2090 views | | 8 replies (last May 14, 2025)
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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.

Go go retiring?

Forced or realization she fu---d up the company? Elliot gonna take over now?

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?

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 

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