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Old 03-15-07, 03:14 PM   #1
heflix455
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Need advice - companies stock going into the pits right now

So to make a long story short i work part time in the evenings/weekends for an oil company managing their network - awesome gig, traveling, etc. I have not been able to get a-hold of the CEO today and i noticed the stock took a nose dive and has leveled off - now im 90% sure its just a slump but there is the slim chance that worse things could be happening. Now it would suck if they went under but its a 2nd job so when it comes down to it its not a huge deal. I'm not dead, I have my health, and i can still ride my bike so my world is still okay in my books. Now, they owe me some money - say something does happen and they go under, i have a security pass and keys to all the offices and access to the servers. Say they don't pay out the money they owe me (some of it is a paycheck, other part of it is stuff i have purchased myself that i needed quickly), I would go and take the stuff i bought myself and return it. What should i do about getting back the money they owe me in back pay - think it would be wrong to pull an Enron and take some hardware to cover my losses? Should i just classify it as a total loss and forget it?
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Old 03-15-07, 03:23 PM   #2
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Stealing stuff could come back to bite you. I wouldn't do it. If they go bankrupt, employees get paid first out of any assets, so that's a good thing (Been there).
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Old 03-15-07, 03:25 PM   #3
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Is this a major oil company? If so, they're probably not going to go belly up unless there's something major going on and if that's the case, all bets are off.
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Old 03-15-07, 03:28 PM   #4
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Quote:
Originally Posted by Jet Travis
Stealing stuff could come back to bite you. I wouldn't do it. If they go bankrupt, employees get paid first out of any assets, so that's a good thing (Been there).
Im a "consultant"
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Old 03-15-07, 03:30 PM   #5
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Is this a major oil company? If so, they're probably not going to go belly up unless there's something major going on and if that's the case, all bets are off.
startup oil company so i guess just like all startup companies all bets are off. I guess if something does happen at least the ride was fun....
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Old 03-15-07, 05:36 PM   #6
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Bill them now, and ask for a quick turn-around (make up some $$ emergency).
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Old 03-15-07, 05:53 PM   #7
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How can an oil company possibly be doing poorly these days? Do they have any producing assets or are they a Junior Oil company with "potential". If they have producing assets then I wouldn't be too worried. It's likely just a slump. Having said that, hopefully you're not talking about Candax Energy. I just bought some of their stock. Oh ya .... don't steal. You won't like the consequences. If a company goes under then the new owners become the lending institutions / bondholders. They won't by happy.
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Old 03-15-07, 05:54 PM   #8
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How are similar companies in the same industry doing? Might it be a seasonal thing?
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Old 03-15-07, 06:47 PM   #9
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Quote:
Originally Posted by heflix455
Now, they owe me some money - say something does happen and they go under, i have a security pass and keys to all the offices and access to the servers. Say they don't pay out the money they owe me (some of it is a paycheck, other part of it is stuff i have purchased myself that i needed quickly), I would go and take the stuff i bought myself and return it. What should i do about getting back the money they owe me in back pay - think it would be wrong to pull an Enron and take some hardware to cover my losses? Should i just classify it as a total loss and forget it?
If you bought stuff that is being stored on company premises, I think you'll be within your right to get it back if:

1) You have the receipt which clearly identifies that you purchased it, and
2) You weren't reimbursed already via an expense report.

Make sure you have the receipts in your possession (with a copy of the receipts at home in case an overzealous security guard takes them) when you go to get your stuff back.

Regarding stuff you don't own, there is nothing to protect you if you are stealing for "payback".

Don't worry about it if the CEO doesn't call you back. I have a hard time getting my company's CEO to return my calls, and I'm the CFO! Most CEOs spend an inordinate amount of time looking outwards - working with the BOD and shareholders.

Startups are crazy. If you even have a hint of suspicion, take all of your stuff back immediately. If not, you may find yourself showing up for work and finding chains and padlocks across the doors, rendering your keys useless.
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