Hey Oilfield Guys!!

[tps7742]

Shell upstream will be cutting several in the near future as announced and I hear some of their downstream refineries will cut back staffing also. As usual they over staffed when times were good.

[stxhunter]

As a future grad dependent upon the oil industry I hope things turn around VERY soon!

Consumer companies talking about the Texas economy include:

Michael Kors Holdings Chairman and CEO John Idol, who told analysts during the luxury retailer's Nov. 4 earnings call that "all of us are now being impacted in parts of Texas because of oil prices there. That's a little bit less tourist, but some of it's related to the Mexicans shopping across border with the peso to the dollar."

Dallas-based Brinker International, which is struggling with sales given that about 30 percent of company-operated Chili's restaurants are in energy states such as Texas. "The whole state is soft," said President and CEO Wyman Roberts. "This isn't something we're experiencing in isolation. … The whole industry is a little more challenged in Texas than in other parts of the country right now."


"Texas softened up a little bit," Denny's President and CEO John Miller told analysts during the restaurant company's Nov. 3 earnings call. "You see that falloff in the smaller areas, Midland, Odessa and the smaller towns."
The state of Texas represents approximately 18 percent of rent-to-own giant Aaron's sales, and company President Steve Michaels told analysts on an Oct. 30 call that "stores across the state are experiencing negative impacts."


"There is a very slight impact in certain Texas markets," Group 1 Automotive President and CEO Earl Hesterberg told analysts during the auto dealer's Oct. 27 call. "We have a BMW dealership in downtown Houston that services the energy company headquarters. … That dealership has been impacted."


"West Texas is going to continue to be tough," said Dennis Fink, CFO of Haverty Furniture. He told analysts listening to the retailer's Oct. 29 earnings call that "Texas was our hottest state we had, and now it is a bit of a drag."


About one-fourth of La Quinta Holdings' hotel rooms are located in the Texas market. "Texas was impacted not only by the oil business but the biblical rain that we've experienced in the region," said Keith Cline, interim CEO of Texas-based hotel chain.


Tempur Sealy International CEO Scott Thompson said during the mattress maker's Oct. 29 conference call that the company has been through three major downturns in the oil business and "you don't feel it immediately; it takes a while. Although the third quarter … came in strong, I would expect going forward that we would begin to feel some weakness in those marketplaces over the next few quarters."

[KR-oldmexico]

As a future grad dependent upon the oil industry I hope things turn around VERY soon!



Consumer companies talking about the Texas economy include:



Michael Kors Holdings Chairman and CEO John Idol, who told analysts during the luxury retailer's Nov. 4 earnings call that "all of us are now being impacted in parts of Texas because of oil prices there. That's a little bit less tourist, but some of it's related to the Mexicans shopping across border with the peso to the dollar."



Dallas-based Brinker International, which is struggling with sales given that about 30 percent of company-operated Chili's restaurants are in energy states such as Texas. "The whole state is soft," said President and CEO Wyman Roberts. "This isn't something we're experiencing in isolation. … The whole industry is a little more challenged in Texas than in other parts of the country right now."





"Texas softened up a little bit," Denny's President and CEO John Miller told analysts during the restaurant company's Nov. 3 earnings call. "You see that falloff in the smaller areas, Midland, Odessa and the smaller towns."

The state of Texas represents approximately 18 percent of rent-to-own giant Aaron's sales, and company President Steve Michaels told analysts on an Oct. 30 call that "stores across the state are experiencing negative impacts."





"There is a very slight impact in certain Texas markets," Group 1 Automotive President and CEO Earl Hesterberg told analysts during the auto dealer's Oct. 27 call. "We have a BMW dealership in downtown Houston that services the energy company headquarters. … That dealership has been impacted."





"West Texas is going to continue to be tough," said Dennis Fink, CFO of Haverty Furniture. He told analysts listening to the retailer's Oct. 29 earnings call that "Texas was our hottest state we had, and now it is a bit of a drag."





About one-fourth of La Quinta Holdings' hotel rooms are located in the Texas market. "Texas was impacted not only by the oil business but the biblical rain that we've experienced in the region," said Keith Cline, interim CEO of Texas-based hotel chain.





Tempur Sealy International CEO Scott Thompson said during the mattress maker's Oct. 29 conference call that the company has been through three major downturns in the oil business and "you don't feel it immediately; it takes a while. Although the third quarter … came in strong, I would expect going forward that we would begin to feel some weakness in those marketplaces over the next few quarters."

No wayyyyyy!!!! According to so may on this very thread the Oil business has nothing to do with the Texas economy!!!!! Just us oilfield guys will suffer but every other industry will be fine!

This has dramatically effected this state and the trickle now will continue! IMO

Prayers for everyone! It tough out there right now all the way around!

[txjustin]

As a future grad dependent upon the oil industry I hope things turn around VERY soon!

Consumer companies talking about the Texas economy include:

Michael Kors Holdings Chairman and CEO John Idol, who told analysts during the luxury retailer's Nov. 4 earnings call that "all of us are now being impacted in parts of Texas because of oil prices there. That's a little bit less tourist, but some of it's related to the Mexicans shopping across border with the peso to the dollar."

Dallas-based Brinker International, which is struggling with sales given that about 30 percent of company-operated Chili's restaurants are in energy states such as Texas. "The whole state is soft," said President and CEO Wyman Roberts. "This isn't something we're experiencing in isolation. … The whole industry is a little more challenged in Texas than in other parts of the country right now."


"Texas softened up a little bit," Denny's President and CEO John Miller told analysts during the restaurant company's Nov. 3 earnings call. "You see that falloff in the smaller areas, Midland, Odessa and the smaller towns."
The state of Texas represents approximately 18 percent of rent-to-own giant Aaron's sales, and company President Steve Michaels told analysts on an Oct. 30 call that "stores across the state are experiencing negative impacts."


"There is a very slight impact in certain Texas markets," Group 1 Automotive President and CEO Earl Hesterberg told analysts during the auto dealer's Oct. 27 call. "We have a BMW dealership in downtown Houston that services the energy company headquarters. … That dealership has been impacted."


"West Texas is going to continue to be tough," said Dennis Fink, CFO of Haverty Furniture. He told analysts listening to the retailer's Oct. 29 earnings call that "Texas was our hottest state we had, and now it is a bit of a drag."


About one-fourth of La Quinta Holdings' hotel rooms are located in the Texas market. "Texas was impacted not only by the oil business but the biblical rain that we've experienced in the region," said Keith Cline, interim CEO of Texas-based hotel chain.


Tempur Sealy International CEO Scott Thompson said during the mattress maker's Oct. 29 conference call that the company has been through three major downturns in the oil business and "you don't feel it immediately; it takes a while. Although the third quarter … came in strong, I would expect going forward that we would begin to feel some weakness in those marketplaces over the next few quarters."

I think we need to know your definition of "soon". If you mean 2017, then ya, soon.

[oktx]

I think we need to know your definition of "soon". If you mean 2017, then ya, soon.

Our company president said it should turn around in 2017. His exact words was we would catch a tailwind.

[Pedernal]

Oil slumping to near $40 ... Prayers up for you guys and gals feeling the pain from all of the issues lower oil prices bring to the industry

Wow, Just heard fox business commentator say hat there are 3 billion barrels in surplus.

[txjustin]

It's getting really bad. EVeryone is laying off now. We are having small, steady layoffs that go unnoticed.

[JTeLarkin08]

We are starting to look into building other stuff. Getting pretty bad

[panhandlehunter]

Prayers up for you guys losing jobs. If anybody gets laid off and has electrical experience, I'm needing some hands. Up to $30/hr depending on experience.

[SgtRock]

I heard on Fox business channel that the days of $100 a barrel crude are gone forever. I don't know how they can say that. Praying for better times. Last time oil was this cheap was 1998. Anyone in the business remember how it effected the economy back then?

[bigmike585]

I remember reading or seeing something in the media not all too long ago saying $100/b oil was here to stay. Those media folks are funny like that.

[WCI]

Save all you can boys.. This ride is going get bumpy.. It seems the expense of knowledge and experience is not as important as the new incomer's ideas. Grey haired folks look out!! After 25 years I clearly see a definite shift in thinking.. I said "Kelly Down" way back in this thread I just did not know it was my Kelly... Good luck to all.

Wilk

[bphillips]

Glad to see so many have made it this long. Many here haven't been so lucky. SUPPOSEDLY our project is gonna last until close to June. I wouldn't bet much on that but if it really does I would be ecstatic. That has been my predicted time frame for a pick up in work.

Im just not sure we will ever see much boom in the near future without something catastrophic happening somewhere.

[Tejas Wildlife]

My pay has been cut over 38% since Jan 2015 but I am still BLESSED to have a job offshore. Good luck everyone & hang in there.

[CoolHandLuke]

Any drivers out of work with a CDL around the Houston area shoot me a pm if you would like. We also like to hire veterans as well. Thanks guys!