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Reply to "DON'T TRUST EXXON MOBIL-- MANGAL"

I find it strange that a savvy professional would make a statement like "Don't Trust" in reference to a strategic business partner even before the substance of the agreement kicks in.  It's surely not the way to build trust and enhance understanding between the two parties.

The great Ronald Reagan used the term, "trust but verify" in dealing with the arch enemy.  He actually meant he did not fully trust!

The GoG and Exxon have a signed agreement with specific terms and conditions as to their relationship.  However, one will expect some "push and pull" of the numbers within the guidelines and framework.  I assume they are using modified GAAP to arrive at numbers.

As I said in another thread, the GoG needs to have an independent international audit firm who understand that business to vet the numbers and forward the interest of the GoG.  Exxon will interpret the rules to their advantage.  The GoG needs to have a counter position and the two then have a "meeting of the minds".

This is standard operation in any such arrangement.  In my early days, I audited a US defense contractor and they had to comply with FAR/DFAR rules, yet you have differences of opinion which needed to be settled.  I also managed several joint venture agreements.  All were governed by 100+ page agreements, yet you have disagreements.  It's the nature of the beast.  But to openly say "Don't Trust" is not the language of partnership!

I believe he is trying to sow discord for some agenda!

Baseman
Last edited by Baseman
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