Discussion in 'Wall St. News' started by Debaser82, Jul 25, 2010.
He finally got his life back!
This is why CEO's negotiate such huge compensation packages. One little mistake, and they get kicked to the curb. BP has 80,000 employees and $265 Billion in revenue. Proportionally, this is like a fry cook being fired for burning a meal.
Not exactly a "little" mistake when 11 people are dead and millions of galleons of oil came flooding out.
The problem with his so called leadership is that they were not willing to spend a few $ million more costs on safety and not rushing to instead make in the short term a tiny bit more profit.
This shows why companies need to be proactive especially when there is no easy solution if something goes wrong, and you end up cutting your stock by 50% and losing $ billions on cleanup.
I heard Exxon with another oil company is spending a $ billion to come up with a capping solution if some type of leak happens in the future. That shows real leadership.
It's usually more cost-efficient to skimp upfront. The old Ford Pinto required like 15 cents of alterations per car to keep the gas tank from exploding on impact, but it adds-up with a lot of cars. Cheaper to let a few people fry and settle later.
Too bad Exxon didn't show real leadership and come up with a way of containing spills after the Valdez. How many years has it been...?
why doesnt any media ever talk about him selling 1/3 of his shares for 80 million dollars right before the explosion. I think they had problems with well & tried to resolve issues which led to disaster. Something just doesnt add up
Mr. Bean can now get back to making movies. :eek:
It appears Mr. Bean's next movie will be titled: Mr. Bean Invades Russia - "Putin" on the Ritz :eek:
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