Harvey Gulf Pay Cuts

We’ve heard reduced vessel day rates have forced Harvey Gulf International to make pay cuts across the board in the Gulf of Mexico. What do you guys know?

We’re also told they are about to go public.

[QUOTE=Mikey;149362]We’ve heard reduced vessel day rates have forced Harvey Gulf International to make pay cuts across the board in the Gulf of Mexico. What do you guys know?

We’re also told they are about to go public.[/QUOTE]

mikey,

maybe off topic, but I’m trying to determine when things are getting posted on the forum. (especially this juicy story)

time stamps seems to change all the time ( i could be mistaken)…

my PC is set to CST. your post is time stamped 1912 hrs, and I’m writing this at 1716 hrs CST. that wouldn’t make any sense even if you were being time stamped from EST. confused…

it seems a lot of the time, posts are time stamped PST.

can you clarifiy?

Yes it is very TRUE, we received a Fleetwide Notice From Shane, telling us of upcoming pay cuts for the GOM vessels, How the decrease in the price of oil is hurting us, and how it is looking bad until 2017.
No word as of yet on any kind of amount, but we shall see. Also was asking for suggestions on how to save the company money… and there were plenty of suggestions. Everything from Nascar sponsorship, Billboard signs, TV Commercials, A 50 Person safety Dept, 100 new company vehicles, Taking away travel pay, Decrease in grocery amounts, New Helicopter, And these God awful new signs to place on the vessels, and a couple of fool’s even suggested 10 & 15% pay cuts…

So yes it is true, We shall see what happens next.

[QUOTE=Mikey;149362]We’ve heard reduced vessel day rates have forced Harvey Gulf International to make pay cuts across the board in the Gulf of Mexico. What do you guys know?

We’re also told they are about to go public.[/QUOTE]
A friend works there. He says pay cuts in January. No more paid travel. Possibly other belt tightening moves coming too.

Many companies in GOM will announce pay cuts after Christmas according to my crystal ball.

Companies go public during a boom not during a crash.

[QUOTE=Johnny Canal;149363]can you clarifiy?[/QUOTE]

Clarify, shmarify…GODDAMMIT! Use GMT only for Christ’s sake and we’ll have no confusion at all… Didn’t you learn anything at that fancy pancy aikademie other than to dance to snappy Cole Porter tunes?

DAMMIT Mike…read the EFFING threads! We’ve been talking about this for days now.

We’re also told they are about to go public.

talk about HORRIBLE timing!

[QUOTE=c.captain;149381]Clarify, shmarify…GODDAMMIT! Use GMT only for Christ’s sake and we’ll have no confusion at all… Didn’t you learn anything at that fancy pancy aikademie other than to dance to snappy Cole Porter [/QUOTE]

Cunty Chops,

You know damn well this forum is not adhering to Gagneaux Mean Time.

Wait for it…Coming soon!

[QUOTE=TXIMR;149625]Wait for it…Coming soon![/QUOTE]

such a tease…

Reliable source said up to 15% he has no reason to lie unless his info was bad. No he didn’t get it from the guy who washes the carryalls. Even if it’s half that it’s better than no job.

Wouldn’t a 15 percent pay cut still leave Harvey as the top money payer in the Gulf.

Nope makes them about equal with the rest of us. Plus we still have better benefits.

[QUOTE=tugsailor;149640]Wouldn’t a 15 percent pay cut still leave Harvey as the top money payer in the Gulf.[/QUOTE]

At least they are sitting on a pile of cash waiting to hear if/when their above average pay will be reduced to average. Those poor bastards…

[QUOTE=Ea$y Money;149680]At least they are sitting on a pile of cash waiting to hear if/when their above average pay will be reduced to average. Those poor bastards…[/QUOTE]

maybe reduced to average in the GoM but even a 20% cut at HGIM will keep their mariners significantly higher paid that just about every tugboat mariner out there.

I’ve never understood why on earth did wages in the GoM skyrocket like they did?

[QUOTE=Mikey;149362]We’re also told they are about to go public.[/QUOTE]

this needs to be discussed. we’ve all known that HGIM’s plan was an IPO for several years now hence buying GOL like they did to bump up the balance sheet but seriously, how can any company launch their stock offering when the marker is so depressed? We also don’t know how much debt HGIM holds at present, but if it is as high as many of us believe, that too would be a major anchor dragging down any investor enthusiasm for buying in. I well imagine that the Jordan Company is sweating bullets and wringing their hands over their investment in Shane Guidry and that they want to cash out which an IPO will allow them yet how can any moneyman make such a move now? Wall Street will just laugh their asses off and pay pennies for the paper!

Harvey told employees several months ago they were not going public. There will be a 10-15 percent pay cut in January and no more travel pay pay. I’m glad to know all this before Christmas so I can plan accordingly. I have been saving $$$ and keeping my expenses down. I think pay cuts will be announced for several companies before the end of winter. Oil just went below $60 and I believe that publically traded boat companies cannot avoid sharply reining in all costs ( wages included). …the stockholders won’t allow their investments to be trashed ( see shareholder lawsuits).The people who are doing a happy dance because Harvey is the first company to cut wages…I don’t know no what to say except haters hate …that’s just their nature. The rest you people hang in there and stay safe.

How about some investigative reporting, pump some wall street people for commentary on the topic? Time gcaptain starts leaking more juicy news, do you care if shane gets mad?