“And if you don’t understand that his primary responsibility is to his board and to the shreholders then please refrain from further discussions about what is appropriate or not for a publicly listed corporation.”
They don’t exist in a vacuum, DIBS. And that’s what you are suggesting. That companies exist in some only “Financial realm”. They exist in the real world and real people are effected. I hear this same argument from Wall Street types. “You just don’t understand”. But I do. And it’s an abuse. And these abuses need to stop. I know you’ll claim it’s unfair because that is your view. Narrow, I think.
Frankly, I hope it does send a shiver down their spines. If companies are cutting corners and acting improperly, then that should be penalized. This is BP’s penalty.
I was STUNNED to hear the stats yesterday about how many violations Shell, Conoco, etc. had – low single digit numbers or close when compared to BP who had a huge number.
“760 citations for “egregiously willful” safety violations” — Fast Company
Something has to show these companies that they cannot put workers and the environment at risk in order to make money for shareholders.
“The US is about 1/3 of BPs business. they could elect to spin this off to shreholders now and be done with it….all perfectly legal. The share price would probably skyrocket.”
DIBS I would be very careful about coming to conclusions like that. There is an awful lot of uninformed speculation out there. I have absolutely no idea whether what you say is a sound conclusion. I just haven’t looked into it and have no special knowledge of this situation. But I would strongly caution you against making trading decisions on this kind of simplified view of a highly complex legal analysis.
If you want a treat, take a look at some of the British press today and their treatment of President Obama, from both sides of the political spectrum. Many a pension in the UK depends upons BP’s dividen, and they are livid at the way the company is being treated by our political leadership.
President Obama is finished in the UK, among other places.
“Being put forth in front of the yahoos in DC is the cost of doing business. Hayward is well compensated for his time.”
Exactly, delepp! You screw up, you go get spanked by Congress!
“And if you don’t understand that his primary responsibility is to his board and to the shreholders then please refrain from further discussions about what is appropriate or not for a publicly listed corporation.”
They don’t exist in a vacuum, DIBS. And that’s what you are suggesting. That companies exist in some only “Financial realm”. They exist in the real world and real people are effected. I hear this same argument from Wall Street types. “You just don’t understand”. But I do. And it’s an abuse. And these abuses need to stop. I know you’ll claim it’s unfair because that is your view. Narrow, I think.
OK…off to the steakhouse for lunch…back around 2:15 or so.
we wuz robbed
Manufacturing shipments have increased 15% compared with the previous post recession increase of 11%.
What is the probability that BP will make it to 2011 as a stand alone company? Numbers I’m seeing are not good.
Being put forth in front of the yahoos in DC is the cost of doing business. Hayward is well compensated for his time.
Imagine if this spill was in the North sea, costa del sol, not sure govt reaction would be any different.
Frankly, I hope it does send a shiver down their spines. If companies are cutting corners and acting improperly, then that should be penalized. This is BP’s penalty.
I was STUNNED to hear the stats yesterday about how many violations Shell, Conoco, etc. had – low single digit numbers or close when compared to BP who had a huge number.
“760 citations for “egregiously willful” safety violations” — Fast Company
Something has to show these companies that they cannot put workers and the environment at risk in order to make money for shareholders.
I don’t think the escrow is wrong. It’s the way the US government went about it that is wrong.
It sends a very bad signal to private enterprise.
All of us agree that BP has and will take responsibility.
It’s the nuances of how the US government is proceeding that is wrong here.
“The US is about 1/3 of BPs business. they could elect to spin this off to shreholders now and be done with it….all perfectly legal. The share price would probably skyrocket.”
DIBS I would be very careful about coming to conclusions like that. There is an awful lot of uninformed speculation out there. I have absolutely no idea whether what you say is a sound conclusion. I just haven’t looked into it and have no special knowledge of this situation. But I would strongly caution you against making trading decisions on this kind of simplified view of a highly complex legal analysis.
DIBS and all;
If you want a treat, take a look at some of the British press today and their treatment of President Obama, from both sides of the political spectrum. Many a pension in the UK depends upons BP’s dividen, and they are livid at the way the company is being treated by our political leadership.
President Obama is finished in the UK, among other places.