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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (37671)	11/27/1998 5:48:00 PM
From: upanddown	Read Replies (1) of 132070

Mike, very nice play on ARC. Looks like you may be unwinding a lot faster than you originally anticipated. Wish I had joined you. I retired from ARCO a couple of years ago. The company is going thru the 4th major "restructuring" since the mid-80's and the morale among current employees is in the toilet. Talking to old friends there may have held me back. The general opinion among employees is that Mike Bowlin, the current CEO, couldn't find his ass with both hands. Strange day in the patch. OPEC meeting ends in rancor and finger-pointing with a distinct possibility of sub $10 oil, oil prices slide to new lows, Big Oil (John D's original cartel) soars on merger speculation while Little oil (drillers and services) is down sharply. Things look very grim and if Exxon/Mobil merger collapses, even Big oil may not be spared. What are your feelings on the oil patch in light of the failed OPEC meeting ? Thanks, John

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