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Well, ROV lads, looks like your wishes to inflict pain on the upper management for destroying the ROV Division may just come true - Superior Offshore to be sued:

http://biz.yahoo.com/iw/080229/0368776.html
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kangaroo wrote:
Well, ROV lads, looks like your wishes to inflict pain on the upper management for destroying the ROV Division may just come true - Superior Offshore to be sued:

http://biz.yahoo.com/iw/080229/0368776.html



Hmmmph! Sounds like another Cajon con game and / or some exteremly piss-poor management and accounting
I got your economic downturn right here!!!
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Laughing Laughing Laughing

There had to be an explanation for all this.......

Cheers Kangaroo

Wink
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Nice one Kangaroo, it was only a matter of time before the people responsible were caught, just a shame they jumped ship a while back taking there ill gotten gains with them !!

As to the bidding process and lack of work, this was down to two things. Upper management would not pay for decent vessels, not because of day rates or anything sensible like that, but from were I was stood, it appeared that certain people were not getting a back hander on charter agreements. This is why we ended up with the Puma which was in desperate need of a dry dock and some tlc. Yes Superior pulled the plug on that deal only after the rov was mobbed onboard despite people onboard screaming blue murder that the vessel was unfit for service.

Toisa took Superior to court and guess what....yep superior lost the court case, it appears that no one actually inspected the puma , once again the marine department pulled a fast one, still the person responsible amazingly is still with Superior. Twisted Evil

FYI and the people in the depot at the time, he is the big fat loud mouthed septic from corporate who did his unannouced visit the week they shut us down and told everyone it was all going well as he personally had lined vessels up. He lied point blank to Soapy and Thommo and shook there hands....nice guy eh.

Second reason no contracts were won apart from a few smaller ones was that yes the day rates were 20% or more than any of the competitors, coupled with crap vessels. After the bids were completed certain individuals in corporate got there sticky fingers involved and inflated all costings and figures, they also lied about the vessel and cranes capabilities. Remember the last job on the Condor and the debacle with the heave compensated crane ? Well it all failed as our upper management in corporate would not sail the vessel for trails after the system was mobbed, the job was the first time the crane was used in anger and it failed.......... Twisted Evil Our CEO at the time would not listen when told that the area the ROV was to be put on the vessel was not suitable, the command came down "just get it done " It was , but the system was in the wrong position and left the back end of the working deck unreachable to the crane, never mind the crane didnt work did it..lol.

I think we all learnt a harsh lesson at Superior, basically the good old boys club is really a club for cheating lying backstabbing money grabbing whores, ok ok sounds like a rant on the ex wife now but you understand my thoughts !! Very Happy

Well I guess we will all see each other soon.........
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Yep...your on the money Thruster...rates on the systems were far more than 20% above..! but you can't do business in this industry when your COO, CEO and CFO have zero idea on making money and only stealing from the company, feel sory for the ones which are left as they are about to chop another 60 from SOI, Fabrication as well...so they will be a Diving company again but with no industry confidence...they are dead in the water. As soon as Endeavor reaches Egypt the intentions are to sell her ASAP...Subtech have been cut free with Warren Davidson chopped yesterday, Debbie is taking over for now.

Companies to watch are Sclub 7 and look out for Global Ind, they are having another go at the ROV"s, their new vessel the Olympic Challenger looks the nutts...they have two new UHD's ...

Anyword on the fat man (EX-vp) rumor has it ROV Tech are sending him offshore...look out...paul(ex-gm) has a new number, just phone his old cell and you can get it there.

Very Happy
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Well, us brits that worked for SOI and were on leave on dooms day have not only been doubly shafted we now have been absolutly utterly and totally shafted as they are now refusing to pay ANY severance! Evil or Very Mad
I received an email today from Debs who said the final desicion was made, that under our terms and conditions of the contract we signed we were not entitelled to any severance therefor the company will only release the funds for days worked in Feb. I feel sorry for the guys who were offshore and told to thier faces that they were getting 14 days offshore money! Twisted Evil
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5 Law Firms have now filed class actions against Superior on the behalf of shareholders:

http://finance.yahoo.com/q?s=deep

I think the end is near!

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