Marathon Petroleum buys Andeavor

6,617 Views | 34 Replies | Last: 5 yr ago by 1939
valtosca
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This is not new news. Marathon Petroleum is going to buy Andeavor for more than $23 billion and this is bad news for San Antonio because 1,300 well paying jobs are set to leave San Antonio in the coming year or so. Sad week for SA in my opinion.

https://www.cnbc.com/2018/04/30/marathon-petroleum-to-acquire-andeavor.html
rgag12
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Shareholders don't care about Jobs, people, or SA. All about that premium baby.
valtosca
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rgag12 said:

Shareholders don't care about Jobs, people, or SA. All about that premium baby.
Oh yeah, without a doubt, this is a fantastic deal for Andeavor shareholders.
who?mikejones
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valtosca said:

This is not new news. Marathon Petroleum is going to buy Andeavor for more than $23 billion and this is bad news for San Antonio because 1,300 well paying jobs are set to leave San Antonio in the coming year or so. Sad week for SA in my opinion.

https://www.cnbc.com/2018/04/30/marathon-petroleum-to-acquire-andeavor.html



Midland is blowing up so I hear
jgh85Ag
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SAWS is hiring IT, financial analysts and soon will be posting an accounting position if any Andeaver folks looking to bail.
valtosca
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Hey, that's good to know. I know a couple folks over there and will mention it to them. Do know of potential part time positions? One friend works part-time in accounting.
jgh85Ag
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Sorry, no part time.
GCRanger
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What type of IT positions? Anything in IT Project Management, Technical Team Lead, Lean Sigma?
jgh85Ag
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Right now we have program delivery manager, network system engineer and senior enterprise architect.

Check out www.saws.org for more information.
Halconblack
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If there any .NET developers at Andeavor that are looking to move to another company in San Antonio please send me a note.
v/r
p_bubel
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Someone needs to hire GC Ranger away from Houston so I can get some free labor out of him at my shack.
The Lurker
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Has any city official commented on this? Seems like they should be working with Marathon to keep as many jobs here as possible instead looks like they are focused on keeping the RNC convention away. SA politicians are bad for business.
valtosca
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"they should be working with Marathon to keep as many jobs here as possible"

This X1,300
Zip 88
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1,300 isn't even going to make a dent in 1604 traffic.
Tony Franklins Other Shoe
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valtosca said:

"they should be working with Marathon to keep as many jobs here as possible"

This X1,300

They are too busy planning and attending all these 300th Birthday festivities that have been such a resounding success.
Halconblack
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Some people are saying that Andeavor's Mexico business is highly valued and that Marathon considers the people in San Antonio integral to that pursuit. Thinking is office here may actually expand.
v/r
Burdizzo
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The Lurker said:

Has any city official commented on this? Seems like they should be working with Marathon to keep as many jobs here as possible instead looks like they are focused on keeping the RNC convention away. SA politicians are bad for business.


If it isn't tourism or military based, this city's leaders don't give a flip.
HowdyTexasAggies
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or call center.
Burdizzo
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OlSarge92 said:

or call center.


Para Espanol oprima dos
valtosca
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I heard StoryKeeping is opening a call center in the space Andeavor is vacating. That's the rumor I'm starting.
FIDO*98*
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Halconblack said:

Some people are saying that Andeavor's Mexico business is highly valued and that Marathon considers the people in San Antonio integral to that pursuit. Thinking is office here may actually expand.


Not sure where you got this. They've already been told the office will be closing. It will probably take until the end of the year or later to finalize and then a few will remain in a 12mo transition team. Many will be offered relocation if they want to move to Ohio. That's straight from a VP
Producers_96
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This city is run by people who don't know the difference between jobs and careers. Been that way as long as I can remember.
Halconblack
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FIDO*98* said:


Not sure where you got this. They've already been told the office will be closing. It will probably take until the end of the year or later to finalize and then a few will remain in a 12mo transition team. Many will be offered relocation if they want to move to Ohio. That's straight from a VP

It was second hand information that was suggested by someone with contacts at Andeavor. I knew executive offices were closing but it looks like you have more accurate information than what I was given.
v/r
bonfarr
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Halconblack said:

Some people are saying that Andeavor's Mexico business is highly valued and that Marathon considers the people in San Antonio integral to that pursuit. Thinking is office here may actually expand.


$250 million in synergies over 3 years is company speak for laying people off. They have to pay off the merger expenses and show ROI and cutting salaries is the #1 way it is done.
Disclaimer: Views expressed in this post reflect the opinions of Texags user bonfarr and are not to be accepted as facts or to be accepted at face value.
Ragoo
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bonfarr said:

Halconblack said:

Some people are saying that Andeavor's Mexico business is highly valued and that Marathon considers the people in San Antonio integral to that pursuit. Thinking is office here may actually expand.


$250 million in synergies over 3 years is company speak for laying people off. They have to pay off the merger expenses and show ROI and cutting salaries is the #1 way it is done.
consolidating roofline is another....
HowdyTexasAggies
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Very Sad to hear this, if true on the office. Another sizable corporate company gone from the market. I know a couple people there. But wait, SA leaders will make another smart investment decision and no bid the next Amazon....idiots.
Señor Chang
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Why is Andeavor currently trading at $137.55 when Marathon is paying $152 per share? Chance this won't go through?
Ragoo
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The difference might be a fractional of marathon stock making up the deal. Ie: each share of Andeavor stock is going to be bought by marathon for cash plus .15 marathon stock or something.
UnderoosAg
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valtosca said:

I heard StoryKeeping is opening a call center in the space Andeavor is vacating. That's the rumor I'm starting.

I heard it's just a front, and all the production work is outsourced to India.

KEEP BOTH AMERICAN JOBS HERE DAMMIT!!!
Ulrich
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Halconblack said:

FIDO*98* said:


Not sure where you got this. They've already been told the office will be closing. It will probably take until the end of the year or later to finalize and then a few will remain in a 12mo transition team. Many will be offered relocation if they want to move to Ohio. That's straight from a VP

It was second hand information that was suggested by someone with contacts at Andeavor. I knew executive offices were closing but it looks like you have more accurate information than what I was given.

Some adjustments to what each of you is saying:
1. Decisions regarding personnel and locations have not been made yet, let alone been communicated. However, FIDO's contact's speculation is probably not far off the mark.
2. Regarding Mexico, Andeavor has an office in Mexico City that is more likely to expand than the SA office.
FIDO*98*
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Agree, latest update is that it may be more of a moving target. Looks like Andeavor is way ahead of Marathon with several departments that aren't necessarily geo specific. My bud has been tasked with finishing a project so they can make a stronger argument to keep his group local. There's also the matter of the 20+ million dollar building.
valtosca
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FIDO*98* said:

Agree, latest update is that it may be more of a moving target. Looks like Andeavor is way ahead of Marathon with several departments that aren't necessarily geo specific. My bud has been tasked with finishing a project so they can make a stronger argument to keep his group local. There's also the matter of the 20+ million dollar building.
I had been under the impression that USAA owned the building. Even then, there's likely a large long-term lease.

I don't know anything. This whole thing is interesting to follow.
Ulrich
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Sometimes when one company is "way ahead" in a particular area, it's because the other company doesn't want to do that thing at all. It can make a supposedly unique and vital department the easiest to cut.

Nothing decisive will occur until the transaction closes. Until that time, it's a bunch of people maneuvering for position and trying to convince each other and themselves that they are indispensable.

I wouldn't worry too much about the details of the ownership of the office space, I doubt that will have much impact on decisions.
HumbleAg04
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Just got back from Findlay. Nice little slice of Americana, kinda like being in a time machine. Heard a small company named Valero might stay in San Antonio.
outlaw96
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valtosca said:

FIDO*98* said:

Agree, latest update is that it may be more of a moving target. Looks like Andeavor is way ahead of Marathon with several departments that aren't necessarily geo specific. My bud has been tasked with finishing a project so they can make a stronger argument to keep his group local. There's also the matter of the 20+ million dollar building.
I had been under the impression that USAA owned the building. Even then, there's likely a large long-term lease.

I don't know anything. This whole thing is interesting to follow.

I worked there (01-09) and helped PM the new building project from an IT point of view. Yes, Tesoro bought all the land, built the building, and sold that part of the land and building to USAA. Then they had the rest of Ridgewood Park developed / sold.

Y'all will be happy to know that there are two rooms in the parking garage (IT and Comms) that I left with maroon and white floor tiles. Also, when I built the data center, the floor of the electric room was painted maroon.

They just finished a major upgrade and overhaul of SAP. Integrating with Marathon seems like it will be a repeat of all of that work. Yuck.

I agree with y'all...it is sad for SA and a lot of jobs will likely go away.
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