Not just 1 bad decision, but 5 all in the name of saving time and money
I believe that the documents show that BP engineers rolled the dice and rolled snake eyes. Damm..no how many times I'ved seen this it still amazes me.
So what happens now...my guesses:
The final cost of the clean-up..which would include claims/lawsuits to all business affected by the oil spill...take the worse case amount and triple it. Which may be low ball if the oil escapes into the Atlantic. It'll be interesting to see whether BP can foot the entire bill. Worse case scenario would be seeing BP going to either bankruptcy or being sold to another company. That's going to be an issue in the UK since approximately 10% of dividends paid out in the UK is by BP
The BP CEO Tony Hayward's job as chairman is secure for now. No businessman is going to want the job of being punted into a middle of a crisis. Figure once everything is finished (give it 2 years max)...he'll be given a nice golden parachute and his successor starts with a relatively clean plate.
Figure BP is going to be like Exxon in the near future. A safety conscious company. Better late than never I suppose.
The Dept of Mineral Rights and Resources will have to be rebuilt from scratch. I'd say transfer everyone out save those who had conclusive clean records, promote those and bring in new folks
__________________
Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell
Quote:"Who cares, it's done, end of story, will probably be fine."Falls under the category of "Famous last words"
I believe that the documents show that BP engineers rolled the dice and rolled snake eyes. Damm..no how many times I'ved seen this it still amazes me.
So what happens now...my guesses:
The final cost of the clean-up..which would include claims/lawsuits to all business affected by the oil spill...take the worse case amount and triple it. Which may be low ball if the oil escapes into the Atlantic. It'll be interesting to see whether BP can foot the entire bill. Worse case scenario would be seeing BP going to either bankruptcy or being sold to another company. That's going to be an issue in the UK since approximately 10% of dividends paid out in the UK is by BP
The BP CEO Tony Hayward's job as chairman is secure for now. No businessman is going to want the job of being punted into a middle of a crisis. Figure once everything is finished (give it 2 years max)...he'll be given a nice golden parachute and his successor starts with a relatively clean plate.
Figure BP is going to be like Exxon in the near future. A safety conscious company. Better late than never I suppose.
The Dept of Mineral Rights and Resources will have to be rebuilt from scratch. I'd say transfer everyone out save those who had conclusive clean records, promote those and bring in new folks
__________________
Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell