This is how Nabors Energy spends their money

Date 12-01-2011 04:51

Sadly, this has become the American way. I'm personally surprised how the Occupy movements have been broken down by political lines because regardless of your views, we are all getting screwed. These guys claim almost all of their incomes as capital gains paying 15% tax rate while the rest of us pay almost double that. Our incomes have been flat for 30 years, home values in the crapper, retirement accounts down the toilet, and times have never been better for people in this guys stratosphere.

By ESC300

Date 12-01-2011 04:53

I wish they would pay invoices they owe me-takes forever.They find excuse after excuse-had enough.

By 99205

Date 12-01-2011 06:16

Well lets see now. Take what he made in the last 3 years then add his little "I Quit" bonus. Now divide that by, oh, lets say a forty hour work week for the last three years. Hmm, that comes out to about $11,600 per hour pay. All I can say is WTF. My total pay package comes out to about $44.00 per hour and I've been accused as being a member, of an organization, that is destroying companies in this country, because we are lazy, incompetent and ask for too much. BS like this is rampant in this country and politicians are OK with it. Let hard working people or the less fortunate ask for a little more and the world will come down on you, for asking for more than your worth. This kind of corporate abuse is borderline criminal.

By Metarinka (****)

Date 12-01-2011 13:19

income inequality is only getting worse, corporate profits are up, CEO pay is up minimum wage and worker pay has decline or remained stagnant for the last 3 decades. Yet somehow the rhetoric is that business need more incentives to create jobs. I think they just realized that they can get by with less employees due to increase in productivity and pocket the savings.

By DaveBoyer (*****)

Date 12-02-2011 03:40

Who sets the CEO's pay? The board of directors do. Who sits on the boards of directors? CEO's from other companies.

They look out for each others own best short term interests.

By Metarinka (****)

Date 12-08-2011 04:20

in some part it's cultural in terms of what the board and investors will consider "fair pay" for example publically traded companies in Japan and europe tend to have lower CEO pay, it wouldn't be justifiable in those regions to have such large CEO payout.

In Japan the CEO of Sony resigned after the company had one year of losses. in the US a CEO would expect a great exit package and millions in bonuses after being forcibly ousted for bad performance.

By Sourdough (****)

Date 12-11-2011 03:13

Well I'll be........someone else is mad at nabors. I will tell you the short version of being raped by none other than nabors company: they raped me..........

By Cactusthewelder (*****)

Date 12-11-2011 03:20

I think they have raped a few of us !!

By ESC300

Date 12-11-2011 03:54

Yes,they are getting on the bad side of several vendors around here.For some reason,they are getting cut off.

By Sourdough (****)

Date 12-11-2011 04:10

Their favorite trick is to authorize the pushers to have you do a bunch of "emergency" work without a po number, (because it's an emergency), then not pay your invoices that don't have a po number.....ha ha haahhhahahahhahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah. Sorry I got carried away. Had to take them to court and got 64 grand that they withheld from me, but they owed me around 90.

By ESC300

Date 12-11-2011 22:52

Im glad you got what you did from them-hope it did not cost a lot for a lawyer.I got PO & RF numbers,still have a hard time with these folks.

By DaveBoyer (*****)

Date 12-02-2011 03:45

The "Gummint" has damn little to do with what CEOs earn, see above post.

The Govt, both parties, are looking out for THEIR OWN interests.

If You think ANY political party is worried about YOU, YOU need to open YOUR eyes.

By Cumminsguy71 (*****)

Date 12-02-2011 11:15

One things for certain, we don't need the government telling companies how much the CEO can make. Do we really need OUR government involved in that way? How many billions would that cost to get an oversight committee started, how dirty would the politicians be in this particular new branch of government? Do you as a business owner need anymore headaches with the government when the micromanage US and tell us what we can make?

$100 million seperation bonus? Why is my diesel so expensive one guy asked? When I got laid off I got $750 and an application for $1000 per month cobra insurance that I obviously could not pay for. I like the part where they said his bonus was $25 million more than Nabors 3rd quarter profits! Now, I'm not a huge CEO but I could not see giving myself a bonus that was more than what I earned. For one, it's a money thing, two, it just don't seem like smart business. Yeah, $100 million seperation bonus, wrong in so many ways but it is their company. If shareholders don't like it they need to do something about it, same with the board(but they don't care). I guess we could cross our fingers and hope they bonus themselves out of business but that is unlikely as they will just stick it in my bum everytime I fill up at the pump. Still don't think government regulation is a good idea, for obvious reasons.

By Sberry

Date 12-02-2011 23:03

I think some regulation is in order, things are so complex and vast that its all invisable. Someone estimated the cost some financial regulation and over sight it would have been to the financial industry and it was small change compared to the basic disaster we are in now because we let them run loose and anyone that did have some concern was badmouthed and still is as being some kind of fuzzy liberal. If you asked the avg person certain policy issues you would find 48% of the people vote for people who they fundamentally don't believe in, I know some GM union pension drawing types that go in and vote right, I asked one,, why,,,, well,,, Obama is going to take away my guns. Ever notice when a Liberal takes office its not above the NRA to fan the flames, drives the price of ammo up and sells another million guns. Even people than never campaigned on an anti gun agenda, say Gore or Kerry, both hunters I believe. Its all used against us and we fall for it.The reality is most of it is the opposite as it appears. We all want American made but don't try to ban the import of some cheap Chinese machine gun. We got the NRA, the Milk people, the banks, the oil, Farm Bureau, Federation of business types all lobby there in our "behalf" that pretty much wholesale supports a crew that does there best to stick it to us. Lots of it very blatant.

By DaveBoyer (*****)

Date 12-03-2011 03:16

Your "fuzzy liberal" that saw the financial industries weaknesses was John McCain. He was badmouthed & ignored, by Barny Frank & others.

By Sberry

Date 12-03-2011 15:03

You make my point.

By bruce69 (*)

Date 12-05-2011 01:03

Google the "Keating 5" and take an in depth look at McCains role in this calamity. At the time it occurred it was the largest bank bail-out in history. Now, what the Keating 5 did was chump change compared to 2008 but they all should have went to prison. Instead they made Charles Keating the fall guy and let him go to Federal pounding in the a** prison.

By DaveBoyer (*****)

Date 12-05-2011 03:44

http://www.youtube.com/watch?v=cMnSp4qEXNM

This is the clip I was referencing in My earlier post.

By strother (***)

Date 12-03-2011 03:23

Take away corporate welfare and the too big to fail mentality, then these guys would have to learn too regulate themselves.

By 99205

Date 12-03-2011 04:17

Take all that and term limits, things would probably turn to the direction, the people of this country want.

By Bondo Date 12-13-2011 14:42

I always said if you started the company, its your baby to do whatever you want. If you were "elected or appointed" then your pay should be a percentage of the profits w/ a base line pay. With no drive there is no reason to do good. It's choosing a guy to get paid by the hour or by the inch. The guy getting the inch will work his but off to get more money while the guy working by the hour slows down and lags the company behind.