Check this out...
About time Bloomberg tells the truth about BP and shuts up the BP bashing once and for all !
The real tragedy of BP's GOM mess is who president monkey needlessly and unwarrantedly bashed this company almost into bankruptcy. Did they take risks? sure, but when push came to shove, CAM didn't do its job and htey should be facing criminal indictment for it. Of course, we wont go there because they are a US concern. The open abuse of power by this 'President' to politicize an issue to distract the public is unprecedented.
Haven't you forgoten that CAM produced this Blowout preventor (BOP) over ten years ago, and it was altered and serviced at BP's behest by third parties, (BP went cheap again) and used for purposes that it was not originally designed?
Try to make a claim against your automobile dealer for a ten year old car that was used and serviced under similar circumstance and see how far you get?
From your own link:
What BP has not been able to do is erase the memory of the spill. The U.S. Justice Dept. is considering manslaughter charges against some BP managers stemming from the deaths caused by the blowout, according to three people familiar with the matter.
That would be a setback to Dudley's efforts to burnish BP's reputation and revive its stock price, off 29 percent since the Apr. 20 disaster. And the company still has enemies aplenty on Capitol Hill. U.S. Representative Steve Scalise (R-La.), blames BP for the loss of 12,000 jobs thanks to the drilling moratorium that until recently halted new deepwater exploration.
BP "hurts the rest of the industry in ways that aren't fair," says Scalise.
It is a puff piece written by the British. Businessweek has been a trash publication for the past 3 years.
Look at how the article downplays the recent Russian fiasco. That makes everything else in the article not believable. There is no mention of being run out of Libya either or all the money they have lost on the Libya adventure.
There is also no mention about how BP under performs its peers every day in the market. Oil goes up and BP goes down every day.
Sorry but only someone highly unintelligent would consider this article to be the truth about BP.
This article really downplays and spins the recent Russian fiasco, which calls into question the credibility of everything else the author says.
BP ignored its commitments in an existing shareholder agreement and went ahead making a big splash about its deal with Rosneft, without thinking through how the Russian partners in TNK-BP will respond, despite plenty of warnings from past experiences that these guys play real hardball. This is not the sort of behavior and judgement by a senior management team that promotes any confidence at all among partners, governments, investors, etc...
well then.. I'm assuming someone as highly intelligent as yourself has already sold his shares so why even bother posting on the BP board? Is it to educate the rest of us with your immense knowledge?.. oh please do share !
It is a good write up. GOM was a double tragedy: firstly for the locality and the people who died, but secondly for BP who were doing so well under Heyward. OK, Heyward didn’t put everything right when he picked up the mess that Browne left him, but he did a good job all the same in the time he had.
westwocr, Come on!
Heyward was one of Brownie's brown nosing "turtles" until Browne was forced out by Heyward after Sir Brownie got caught lying to a British Court about his personal sex life.