Unions and the Demise of the US Automobile Industry

September 21, 2012: GM wants "out." Government (and unions) say no.
September 17, 2011: Government Motors handing out $5,000 signing bonuses. These guys should be happy they have jobs, but they snookered taxpayers into handing them $5,000 to do what they are already doing. By law, they cannot strike. 

February 13, 2010: As if Toyota didn't have enough problems, now the UAW is picketing NUMMI - just adding to the bad publicity Toyota is receiving. The UAW has no shame.

October 27, 2009: Don't tell me that the late 20th century union and management's acquiescence to the unions didn't result in the demise of the American automobile industry.

In this week's news: Kia's profits swell and Hyundai reports record profits. Meanwhile Ford evaded bankruptcy only because its debt was with its shareholders and not the banks; GM is owned by the US government; and, Chrysler dealers are in a world of hurt.

Wipeout, The Ventures.


Detroit City, Bobby Bare

Bakken: NOG

NOG: General Information

NOG's policy on IPs.

Snapshot of NOG, 2012.

If this is your first visit to this site, please check out the "welcome note" in the sidebar at the right. Also, additional information about NOG can be found at "Investing: NOG."

Updates

February 6, 2023: operational update;

January, 2019, corporate presentation.

March 1, 2017: 4Q16 and full year 2016 earnings.

January 29, 2014: operational update, 4Q13.

October 3, 2013: presentation transcript. 

July 8, 2013: crawling out from under the Geico rock? Where has this guy been since 2007?

April 15, 2013: 1Q13 operations update.

November, 29, 2012: corporate presentation.

April 15, 2012: operations update.

April 2, 2012: bullish sentiment on NOG, SeekingAlpha.com. 

December 26, 2011: operations update.

September 24, 2011: huge numbers presented by NOG, operations update, July 31, 2011.

July 26, 2011: archived investing articles on NOG up to this date. 

July 4, 2010: Off-topic but somehow related, I'm sure. Check out Voyager Oil and Gas on the net. Voyager's CEO is J.R. Reger -- of the Reger family connected with NOG, no doubt. Voyager and Slawson partnering in Wyoming.


May 19, 2010: Rah-rah article about Michael Reger and NOG.

December 13, 2009: NOG has partnered with Slawon on occasion. Slawson is doing some interesting things in the Van Hook / Big Bend oil fields.


November 14, 2009: Note the interesting discussion on the Hess site regarding the Hess/NOG well noted below.

This concerns the RS-Feldman 1423-1H well (noted below) with one of the best IPs ever reported by Hess in the Bakken. Hess has had lacklaster IPs: in my database I can't find one Hess IP that reached 1,000, and most are in the 200 - 500 bopd range. This well is special; its IP is about four times better than any other Hess well. Could it be due to 14-stage fracturing?

November 8, 2009: Nice discussion regarding 3rd quarter earnings press release (this link is broken; Teegue gave up).

Discusses cost of well(s) and time to completion.

October 27, 2009: Operational highlights from 3rd quarter earnings press release:

Operator / Well Name / NOG WI / IP

18182, Fidelity / Harstad 18-19H / 50 / 1,405; cum 171K 11/13; 
18211, Slawson / Minx 1-29H / 22 / 1,000 ; cum 196K 11/13;
18220, Slawson / Coyote 1-32H / 20 / 846; cum 189K 11/13;
17666, CLR / Bratlien 1-35H / 16 / 544; cum 145K 11/13;
18114, MRO / Wadholm 41-30H / 15 / 850; cum 225K 11/13;
18061, EOG / Roberta 1-16H / 13 / 725; cum 100K 11/13;
17696, HESS / RS-Feldman 1423-1H / 12 / 570; cum 203K 11/13;
18119, Slawson / Tempest 1-14H / 6 / 1,274; cum 199K 8/13;
17854, XTO / Jorgenson 41X-6 / 6 / 953; cum 105K 11/13;
18188, Slawson / Genesis 1-13H / 4 / 1,106; cum 215 11/13;
18108, EOG / Fertile 23-19H / 2 / 639; cum 191K 11/13;
18177, Conoco / Bryce 31-5H / 2 / 1,844; cum 255K 11/13;
18109, WLL / Tollefson 44-10H / 2 / 2,409; cum 513K 11/13; 

October 27, 2009: A tip of the hat to Elwood for providing this data October 27, 2009 from a NOG press release.

Someone asked how NOG was doing one year out. Here is what Elwood is reporting (this link is broken; Teegue gave up).

Permit # -- Well Name -- IP -- Cumulative oil production -- Months

17117, EN-Person 1102-H, 345, 52,492 bbls over 13 months; t9/08; cum 88K 11/13;
17167, RS-Agribank 3427H1, 234, 56,238 bbls in 15 months; t7/08; cum 111K 11/13;
17343, EN-Neset 0706H, 223, 41,363 bbls in 13 months; t9/08; cum 91K 11/13;
16845, Pathfinder 1-9H, 1,418, 179,783 bbls in 14 months; t7/08; cum 517K 11/13;
16855, Prowler 1-16H, 952, 100,840 bbls in 13 months; t8/08; cum 237K 11/13;
17135, Bonney 34-3H, 143, 65,358 bbls in 15 months; t9/08; cum 160K 11/13;
17318, Clive Pelton 34-23H, 483, 49,443 bbls in 14 months; cum 132K 11/13;
17310, Eckelberg 41-26H, 459/IA, 49,138 bbls in 15 months; t8/08; cum 117K 11/13;

These are very good wells. It will be interesting to see what the cumulative totals will be a year from now.

Quote of the Day

Quote of the day:

“What we’re also discovering is that insurance is complicated to buy.” President Obama as his ObamaCare goes into a death spiral, November 14, 2013. Link.

Quote of the day:

"We are not demand-constrained," Tesla's chief executive, Elon Musk, said on an investor call on Wednesday. "We are intentionally production-constrained."  Link.

 Quote of the day, her "Entitlements Are Earned" speech (sort of like, I have a dream):

"I believe it should be pronounced here today, that the reform of the entitlements based upon slipshod, reckless, deliberations, or, should I say actions, are a non-starter. 

There is no way, Mr. Speaker, that we should raise the eligability (sic) age for Medicare, that we should not think carefully about how we approach the reform of Medicaid. 

And that we don't the American people that Social Security is solvent. (sic) 

So, I would say move quickly to pass the middle class tax cuts that would be for all Americans, 100% up to 250,000 dollars." -- Rep. Sheila Jackson Lee (D-Texas) on the house floor; and product of the public school system, no doubt

Quote of the day:

"It certainly isn't where we need to be in order to prevent islands from going under and other unimaginable impacts."-- AP, Doha, Qatar, December 8, 2012

Quote of the day:

"It is not a tradition to call it a Christmas tree." -- Lincoln Chafee, Governor, Rhode Island, December 6, 2012

Gov. Lincoln Chafee (I-R.I.) told CNSNews.com on Wednesday that his administration calls the decorated evergreen tree erected in the Rhode Island State House in December a “holiday tree”--rather than a "Christmas tree"--because that is what the tree is traditionally called. I can't make this stuff up. When I was growing up, we always called it a Christmas tree.

Quote of the day:

Minutes after the deficit was announced, the state largest government employee union asked for higher taxes. Eliot Seide, director of AFSCME Council 5. “We need $6 billion [in new taxes]  to dig ourselves out of the hole and pay for the things Minnesotans care about – brainpower schools, middle-class jobs, safe transportation, and property-tax relief.” December 5, 2012. I can't make this stuff up.

Quote of the day:

"Wrong statements about Libya doesn't mean they were false."-- DNC Chair. I wonder how she did on multiple choice/true-or-false standardized tests in her private schooling?

Quote of the day (this one is serious), from Carpe Diem, quoting Camile Paglia from the Wall Street Journal, October 6, 2012:

“Capitalism has its weaknesses. But it is capitalism that ended the stranglehold of the hereditary aristocracies, raised the standard of living for most of the world and enabled the emancipation of women. The routine defamation of capitalism by armchair leftists in academe and the mainstream media has cut young artists and thinkers off from the authentic cultural energies of our time.”

“We live in a strange and contradictory culture, where the most talented college students are ideologically indoctrinated with contempt for the economic system that made their freedom, comforts and privileges possible. Thus young artists have been betrayed and stunted by their elders before their careers have even begun. Is it any wonder that our fine arts have become a wasteland?”

Quote of the day:

"250 minutes/month free talk-time is not enough for emergency phone calls."-- ObamaPhone user. Per month.

 Quote of the day:

“These man camps are only going to be there for 20 or 30 years, depending on labor needs,” Caraher said. “What’s it going to look like in 300 or 500 years?” -- September 23, 2012

Quote of the day:

"I'll work with Republicans if they agree to raise taxes." Barack Obama, September 9, 2012

Quote of the day:

"If you look at just buying one gallon of gas, it really doesn't hurt us at all, but the problem is a lot of US consumers are buying multiple gallons of gas every single day." -- analyst, August 30, 2012

Quote of the  day:

"This is just really hard," he explained. "This is as intractable a problem as you get."President Obama talking about Middle East peace. Well, duh. February 12, 2010.

Quote of the day:

"He's beginning to be not believable to me..." Democrat senator speaking about President Barack Obama. February 12, 2010.

Quote of the day:

"I am very optimistic about -- about Iraq. I mean, this could be one of the great achievements of this administration." Vice-President Biden on Iraq. Two of the greatest naysayers of the war: Barack Obama and Joe Biden. February 11, 2010.

Quote of the day:

Obesity is a threat to national security." -- Michele Obama. But I guess closing GITMO is not. February 10, 2010

Quote of the day:

"Snow is so scarce today that most Virginia children probably don't own a sled." -- RFK, Jr., 15 months ago, lamenting that man-made global warming has ended snowfall in Washington, DC, area. Washington, DC; Virginia; and Philadelphia just recorded a record-setting snowstorm (30") and now a second snowstorm of slightly less epic proportion is forecast for later this week. February 6, 2010.

No quote of the day:

"Where are the jobs, Mr President?" asked Ms Pelosi, on August 1, 2003, when she blamed President Bush's policies for the loss of 3.2 million jobs. Under President Barack Obama we have now lost 8.4 million jobs, and another 20,000 last month, more than expected. We have not heard from Ms Pelosi whose $787 billion stimulus package failed to prevent this carnage.

Quote of the day:

When times are tough, you tighten your belts," the president said. "You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash on Vegas when you're trying to save for college. -- President Barack Obama, February 2, 2010. Las Vegas has one of the highest rates of unemployment in the country -- Senator Reid (D) will probably lose his seat -- lots of support from Mr Obama. [I was wrong: Senator Reid won. I no longer feel any empathy/sympathy for those who voted for Senator Reid.]

Quote of the day:

When asked in a interview about terrorist trials being brought to NYC, Obama said, "New Yorkers won't be offended when [the terrorists] are convicted and executed." Then realizing what he had just said, "But I'm not pre-judging." 

By the way, the president also confirmed that he won't close GITMO by January 1, 2010 as promised. November 18, 2009.

Quote of the day:

"...and so I want to give a shout out to that Congressional Medal of Honor winner. It's good to see you."

On the day that a Muslim terrorist killed/injured 50 people at Ft Hood, President Obama used the occasion to shout out an individual who had been awarded the Medal of Honor. Only one problem, that individual was not a Medal of Honor winner.

After the light-hearted introduction, the President addressed the terrorist act in his characteristically detached manner.

Quote of the day:

"I will not rest until all Americans who want to work can." And that's all the president has to say as unemployment hits 10.2% sooner than anyone expected; and worse is yet to come. All hat, no cattle.

Quote of the day:

“All my Republican friends — and independents — are sitting back saying, ‘Oh, what did we do?” Ms. McAreavy said. “I’m not to that point yet, but a lot of people are.”

Ms McAreavy, 76, Iowa, switched parties to vote for Barack Obama, and now realizes that she will probably lose some of her Medicare benefits to pay for the new health care bill, subsidizing illegal aliens and, in the end, the big insurance companies. Well, live and learn.

Quote of the day:

"The reason we're here today is because we just are not where we need to be yet. We've got a long way to go. We are still seeing production levels that are significantly below peak levels and most distressing is the fact that job growth continues to lag." -- well, duh. President Obama, all hat, no cattle. All talk, no walk. (posted November 2, 2009 in anticipation of this week's unemployment numbers. Can anyone say 10%?)

Quote of the day:

"As an American I am not so shocked that Obama was given the Nobel Peace Prize without any accomplishments to his name, but that America gave him the White House based on the same credentials." -- Newt Gingrich (posted Halloween, 2009)

Quote of the day:

"I will never rush the solemn decision of sending you into harm's way. I won't risk your lives unless it is absolutely necessary," Obama said. "And if it is necessary, we will back you up to the hilt."

On a day when the US loses three helicopters and 14 troops, President Obama tells service members in Jacksonville, Florida, that "...if it is necessary, we will back you up to the hilt."

I guess this means, that if it NOT necessary, he will not back you up. At least not to the hilt.

Unlike the US Marines: Semper fidelis. (Always faithful.)

Quote of the day, on the future of the Bakken, posted June 10, 2008:

Assuming prices don't crash (which contrary to prevailing attitudes, is a very real possibility), I think you will find that companies will be diverting capital to develop other emerging domestic plays that prove to have better RORs than the fringe areas of the Bakken, just as they moved from MT to ND. There will always be some level of development in and near the sweet spots, but I just don't see the widespread activity that creates these wild expectations that so many people seem to have. -- Bakken Shale Discussion Group. Comment: even stopped watches tell the correct time twice a day. [Updated: March 3, 2013: I would assume Divide County in North Dakota would have been considered a "fringe area" back in 2008.]