In the early nineties I was working for Sunoco in the Tulsa Refinery. An upper level guy comes down in the fall and tells us (thirty managers in the room) margins are down, we won't be taking our maintenance shutdown (turnaround). I raised my hand and asked whether the time to shut down was when you weren't making a lot of money. He said you just don't understand. I understood, he was manipulating the quarterly income figure. So we had to cancel contracts and pay cancellation charges for contractors who had mobilized to begin work. A shutdown was about 30 million.
Same guy comes back in March and says "we're making money, you can shut down in April". I raised my hand and asked whether the time to shut down was when you weren't making a lot of money. He said you just don't understand. We scrambled and spent extra money trying to get contractors lined up and couldn't get the best contractors, settling for lesser ones which cost us time and money during the shutdown.
Sunoco no longer owns any refineries.
It is such a big game. Wall Street uses indexes to measure how they think a company is doing. So every company spends money manipulating those indexes. Like leasing instead of buying so their asset base looks smaller for the same profit, or contract labor so their fixed labor looks smaller, even though they will need that labor every year.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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