Corbat considers pursuing a graduate school career, but that would be "a few years off from now.". "He was always outgoing and good natured as a child," Corbat's mother. He doesn't cheer for the line man when a hole is created so Scottie McCabe can slip through for 15. Parties in the United Kingdom may participate toll-free by dialing 08082389064 and other international parties may dial (412) 902-6510. Michael Corbat is listed as an insider in the following companies: C / Citigroup, Inc. One of the most striking things about Mike Corbat is his reluctance to talk about himself for any extended length of time. Under the lease accounting standards, lease liabilities related to assets used in joint operations include both the Company’s share of expenditures as well as the share of lease expenditures which its non-operator joint venture owners’ will be obligated to pay under joint operating agreements. We will remove this and make the necessary changes.

It seems to rally itself around academics but not athletics.". You were done. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 52 cents per share. A lot of people in this particular field have a tendency to move … There must be some-body blocking there. It was just a matter of me getting out there and going I'm competing against people who have high overhead I don't have much of an overhead.

Interested parties may participate by dialing (877) 270-2148. Revenue and Sales                    Q3 2020 Q3 2019 % Change Q3 2020 vs. Q3 2019 Q2 2020 % Change Q3 2020 vs. Q2 2020 Production (NRI BOPD)  4,405  3,081  43 %  5,410  (19)% Sales (NRI BO)  412,000  279,000  48 %  631,000  (35)% Realized crude oil price ($/BO) $43.63 $61.26  (29)% $28.31  54 % Total crude oil sales ($MM) $18.3 $17.6  4 % $18.0  2 % VAALCO had three liftings in the third quarter of 2020, which resulted in total sales volumes of 412,000 barrels compared with 279,000 barrels in the same period of 2019. He owes his trading success to these strategies. “In some cases, what people miss in banking — in this switch from analog to digital — is that it’s not a standing start of a new industry. Shortly thereafter, Corbitt was sworn into the Willow Springs police department by notorious political boss Doc Rust. Talking about his family members, he lives with his wife with whom he shares two children, Brian and Allison. Corbat, the only officer of the firm said that his company began operation last February and netted profit in March. We can’t move away too much either way [of banking],” said Corbat. "I just give them tickets to some of the games," he explains. Fintech upstarts, such as Monzo, Starling Bank, and Transferwise, as architects in the space, are eating marketshare across the banking and payments space. He graduated from Harvard University with a degree in economics. It has given me everything that I would have hoped for.". Adjusted EBITDAX for the third quarter of 2020 was higher than the same period in the prior year primarily due to increased sales volumes associated with new production from the three wells completed as part of the 2019/2020 drilling campaign and lower operating costs and expenses, partially offset by lower realized prices.

He never watched television.". That defeat dashed Harvard's hopes of winning the Ivy title outright. And, to fill up the vacant position of Citigroup’s chief executive, Jane Fraser has come into the picture. End of story. Additionally, given that the vast majority of our operating expenses are fixed, our higher sales volumes and proactive measures to manage costs have helped to drive down our unit production costs and enhanced our profit margins year-over-year.”“We have maintained our focus on operational excellence and execution, which continues to allow us to maintain a healthy cash position, and cost discipline remains a core priority for the Company as we seek to maximize our profitability. Kosovo president and former guerilla leader Hashim Thaci was in detention in The Hague on Thursday, just hours after he resigned to face an indictment at a war crimes court. Working capital at September 30, 2020 was $16.6 million compared with $11.7 million at June 30, 2020, while Adjusted Working Capital at September 30, 2020 totaled $29.3 million, compared with $24.1 million at June 30, 2020.The Company does not have any derivatives currently and continues to evaluate adding derivatives in the future, in line with its strategic objectives.2020 Guidance For the fourth quarter 2020 forecasted NRI production and sales are expected to be between 4,600 and 5,000 BOPD. We just can’t be so far ahead that we leave our customers behind.”. That is, unless you used a tactic that was a favorite with America's corporate set, the old CYA routine — cover your ass and blame whatever went wrong on the other guy. Photo: World Economic Forum. After several years of owning and running a Sunoco gas station set up by the Mob, which also doubled as a mobster hang out, Outfit boss Sam Giancana then offered Corbitt a position as a police officer in Willow Springs, Illinois. VAALCO projects the gross cost of both the acquisition and processing of the seismic survey to be between $12 million and $15 million, or $4 million to $5 million net to VAALCO. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO’s control. The most important part is that everything is a team effort, not an individual effort. Michael Corbitt was born to an Irish American family in Chicago, Illinois.After several years in a Roman Catholic parochial school, he was transferred to public school at age 9.He would later recall that, without a Catholic school uniform to hide behind, it was obvious just how poor his family was. “When I look at our model today, we do [an element of that] but we also go out and partner [with tech companies] and disruptors, and bring on [and buy] inventors. Corbat, the only officer of the firm said that his company began operation last February and netted profit in March.

His age is, His net worth as of 2020 remains to be reviewed. With this, Jane Fraser is in her way to be the first woman appointed to run a leading bank in Wall Street. The woman who checks off the names--the one sitting at the desk--smiles and winks at him. It's just that this team has real good chemistry.". Michael Corbat, new chief executive officer, says he wants to run a more efficient bank. Thank you for your feedback. For example, Germany’s hot online banking startup N26, which only launched in 2017, revealed in October last year that it hit the one million customer mark in France — overtaking incumbent HSBC in France. What good is an individual effort if a team loses' I would personally rather have a bad game and have the team win. Kane reached the landmark on his 300th Spurs appearance as he inches towards Greaves' record of 266 goals, achieved between 1961 and 1970. It gives them a feeling of closeness, when playing. Adjusted EBITDAX and Adjusted Net Income exclude some, but not all, items that affect net income (loss) and operating income (loss) and these measures may vary among other companies. "He was always outgoing and good natured as a child," Corbat's mother. We work in large buildings and large facilities requiring eight to 10 people per job. But he's always been able to make a dollar on his own." “When I look at our model today, we do [an element of that] but we also go out and partner [with tech companies] and disruptors, and bring on [and buy] inventors. I've thought about it a lot, but it's really hard to explain. The second quarter also included a loss on derivatives of $0.8 million ($0.01 per diluted share) and an income tax benefit of $2.2 million.Adjusted Net Income for the third quarter of 2020 increased to $2.3 million ($0.04 per diluted share) from an Adjusted Net Loss of $0.6 million ($0.01 per diluted share) for the third quarter of 2019, primarily as a result of lower general and administrative expenses. Photo: World Economic Forum. Corbat--an all-Ivy offensive guard on the Harvard football team--may be a dear to the people who work in the dining hall, but he certainly isn't dear to his opponents. It is in dicative of the entire. From contactless cards, to branch-less banks, the way we manage our money has radically changed over the last decade or so. Schneider has been honored again for its achievements and commitment towards environmental leadership within the trucking industry. Corbat is an entrepreneur running his own business and netting a profit. Fintech upstarts, such as Monzo, Starling Bank, and Transferwise, as architects in the space, are eating marketshare across the banking and payments space. Louis D Corbat, Deanne Corbat, Thomas M Corbat, Y Corbat, 26891 Wedgewood Dr, Apt 103, Bonita Springs, Florida 34134-2611, USA, 114 Hemlock Rd, Short Hills, New Jersey 07078-1824, USA, Bristol, Hartford County, Connecticut, United States. The name of his gorgeous wife is Donna Corbat. Insiders are officers, directors, or significant investors in a company. “Financial services, when you go back in history, it probably has a reputation of being inwardly looking and doing most [of the tech, in-house] ourselves,” said Corbat. ", This page was last edited on 16 September 2020, at 23:29. Genealogy profile for Michael L Corbat Michael Louis Corbat - Genealogy Genealogy for Michael Louis Corbat family tree on Geni, with over 190 million profiles of ancestors and living relatives. Michael J. Corbitt died from lung cancer, at age 60, in 2004. After several years in a Roman Catholic parochial school, he was transferred to public school at age 9. I'm just not psyched to be somebody's piece of meat somewhere.

Michael Corbat’s nationality is American. Michael Corbitt was born to an Irish American family in Chicago, Illinois. VAALCO ENERGY, INC AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited)              September 30, 2020 December 31, 2019 ASSETS (in thousands) Current assets:       Cash and cash equivalents $41,986  $45,917  Restricted cash  82   911  Receivables:       Trade  6,080   14,335  Accounts with joint venture owners, net of allowance of $0.0 million and $0.5 million, respectively  —   2,714  Foreign income taxes receivable  1,124   —  Other  81   1,517  Crude oil inventory  781   1,072  Prepayments and other  4,264   3,292  Total current assets  54,398   69,758          Crude oil and natural gas properties, equipment and other - successful efforts method, net  38,845   68,258  Other noncurrent assets:       Restricted cash  925   925  Value added tax and other receivables, net of allowance of $2.1 million and $1.0 million, respectively  3,684   3,683  Right of use operating lease assets  25,700   33,383  Deferred tax assets  —   24,159  Abandonment funding  11,885   11,371  Total assets $135,437  $211,537  LIABILITIES AND SHAREHOLDERS' EQUITY       Current liabilities:       Accounts payable $4,702  $15,897  Accounts with joint venture owners  5,984   —  Accrued liabilities and other  14,426   29,773  Operating lease liabilities - current portion  12,696   11,990  Foreign income taxes payable  —   5,740  Current liabilities - discontinued operations  15   350  Total current liabilities  37,823   63,750  Asset retirement obligations  17,105   15,844  Operating lease liabilities - net of current portion  12,993   21,371  Deferred tax liabilities  2,802   —  Other long-term liabilities  43   852  Total liabilities  70,766   101,817  Commitments and contingencies       Shareholders’ equity:       Preferred stock, $25 par value; 500,000 shares authorized, none issued  —   —  Common stock, $0.10 par value; 100,000,000 shares authorized, 67,819,242 and 67,673,787 shares issued, 57,456,139 and 58,024,571 shares outstanding, respectively  6,782   6,767  Additional paid-in capital  74,061   73,549  Less treasury stock, 10,363,103 and 9,649,216 shares, respectively, at cost  (42,419)  (41,429) Retained earnings  26,247   70,833  Total shareholders' equity  64,671   109,720  Total liabilities and shareholders' equity $135,437  $211,537  VAALCO ENERGY, INC AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited)                   Three Months Ended Nine Months Ended September 30,   September 30, 2020 September 30, 2019 June 30, 2020 2020  2019   (in thousands except per share amounts) Revenues:                Crude oil and natural gas sales $18,256  $17,603  $17,974  $54,619  $62,598  Operating costs and expenses:                Production expense  8,984   9,836   12,126   30,859   27,874  Exploration expense  16   —   —   16   —  Depreciation, depletion and amortization  2,212   1,509   2,801   8,116   4,971  Impairment of proved crude oil and natural gas properties  —   —   —   30,625   —  General and administrative expense  2,178   4,738   3,019   5,951   11,905  Bad debt expense and other  151   54   179   1,140   30  Total operating costs and expenses  13,541   16,137   18,125   76,707   44,780  Other operating income (expense), net  (37)  35   (815)  (883)  (4,401) Operating income (loss)  4,678   1,501   (966)  (22,971)  13,417  Other income (expense):                Derivative instruments gain (loss), net  —   2,267   (756)  6,583   2,266  Interest income, net  23   193   11   150   581  Other, net  147   (138)  47   163   (521) Total other income, net  170   2,322   (698)  6,896   2,326  Income (loss) from continuing operations before income taxes  4,848   3,823   (1,664)  (16,075)  15,743  Income tax expense (benefit)  (2,759)  7,681   (2,249)  28,470   19,642  Income (loss) from continuing operations  7,607   (3,858)  585   (44,545)  (3,899) Income (loss) from discontinued operations, net of tax  11   (61)  11   (41)  5,448  Net income (loss) $7,618  $(3,919) $596  $(44,586) $1,549                   Basic net income (loss) per share:                Income (loss) from continuing operations $0.13  $(0.07) $0.01  $(0.77) $(0.07) Income (loss) from discontinued operations, net of tax  0.00   0.00   0.00   0.00   0.09  Net income (loss) per share $0.13  $(0.07) $0.01  $(0.77) $0.02  Basic weighted average shares outstanding  57,456   58,953   57,456   57,628   59,457  Diluted net income (loss) per share:                Income (loss) from continuing operations $0.13  $(0.07) $0.01  $(0.77) $(0.07) Income (loss) from discontinued operations, net of tax  0.00   0.00   0.00   0.00   0.09  Net income (loss) per share $0.13  $(0.07) $0.01  $(0.77) $0.02  Diluted weighted average shares outstanding  57,741   58,953   57,594   57,628   59,457  VAALCO ENERGY, INC AND SUBSIDIARIES Consolidated Statements of Cash Flows (Unaudited)          Nine Months Ended September 30,   2020  2019   (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES:       Net income (loss) $(44,586) $1,549  Adjustments to reconcile net income to net cash provided by (used in) operating activities:       (Income) loss from discontinued operations  41   (5,448) Depreciation, depletion and amortization  8,116   4,971  Impairment of proved crude oil and natural gas properties  30,625   —  Other amortization  181   181  Deferred taxes  26,972   12,725  Unrealized foreign exchange gain  (60)  (46) Stock-based compensation  (2,097)  2,770  Cash settlements paid on exercised stock appreciation rights  —   (261) Derivatives instruments gain  (6,583)  (2,266) Cash settlements received on matured derivative contracts, net  7,216   2,056  Bad debt expense and other  1,140   30  Other operating loss, net  83   37  Operational expenses associated with equipment and other  1,418   (62) Change in operating assets and liabilities:       Trade receivables  8,255   4,404  Accounts with joint venture owners  8,642   12,354  Other receivables  1,333   219  Crude oil inventory  291   10  Prepayments and other  (1,153)  (1,979) Value added tax and other receivables  (919)  664  Accounts payable  (9,318)  (2,154) Foreign income taxes receivable/payable  (6,875)  (122) Accrued liabilities and other  (3,285)  4,092  Net cash provided by continuing operating activities  19,437   33,724  Net cash used in discontinued operating activities  (376)  (4,673) Net cash provided by operating activities  19,061   29,051  CASH FLOWS FROM INVESTING ACTIVITIES:     Property and equipment expenditures  (22,317)  (3,382) Net cash used in continuing investing activities  (22,317)  (3,382) Net cash used in discontinued investing activities  —   —  Net cash used in investing activities  (22,317)  (3,382) CASH FLOWS FROM FINANCING ACTIVITIES:     Proceeds from the issuances of common stock  —   133  Treasury shares  (990)  (2,425) Net cash used in continuing financing activities  (990)  (2,292) Net cash used in discontinued financing activities  —   —  Net cash used in financing activities  (990)  (2,292) NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH  (4,246)  23,377  CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD  59,124   46,655  CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $54,878  $70,032  VAALCO ENERGY, INC AND SUBSIDIARIES Selected Financial and Operating Statistics (Unaudited)                   Three Months Ended Nine Months Ended September 30,   September 30, 2020 September 30, 2019 June 30, 2020 2020 2019 NRI SALES DATA                Crude oil (MBbls)  412  279  631  1,337  933 NRI PRODUCTION DATA                Crude oil (MBbls)  405  283  492  1,347  932 Average daily production volumes (BOPD)  4,405  3,081  5,410  4,918  3,412 REALIZED DERIVATIVE INSTRUMENTS GAIN (LOSS)                Realized derivative instruments gain (loss), net, in thousands $0.00 $493 $6,498 $7,216 $2,056 Realized derivative instruments gain (loss), net (Per Bbls)  0.00  1.77  10.30  5.40  2.20                  AVERAGE SALES PRICES:                Crude oil (Per Bbls) $43.63 $61.26 $28.31 $39.90 $65.00 COSTS AND EXPENSES (Per Bbl of sales):                Production expense $21.81 $35.25 $19.22 $23.08 $29.88 Production expense, excluding workovers*  22.21  34.01  19.31  21.10  29.36 Depreciation, depletion and amortization  5.37  5.41  4.44  6.07  5.33 General and administrative expense**  5.29  16.98  4.78  4.45  12.76 Property and equipment expenditures, cash basis (in thousands) $2,220 $2,219 $8,117 $22,317 $3,382 *Workover costs excluded from the three months ended September 30, 2020 and 2019 and June 30, 2020 are $(0.2) million, $0.3 million and $(0.1) million, respectively.

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