No, it was non-union. Yes it was oilfield related. Last Nov. stock was trading about $46 a share, today it is around $16.
That I understand. The oil business is feast or famine. The workers can be furloughed or laid off when prices plunge.
Oil company stocks have held up remarkably well. The expectation seems to be that oil prices will start rising in short order. What's your take? (Mine is that all natural resource companies have been spoiled by a couple of decades of a boom of unprecedented magnitude, which will probably be followed by a bust of similar dimensions).