Wednesday, May 5, 2010
Pitch black seagulls, dirty sand
With BP's shares down more than a third and its default insurance costs running at five times their normal level it is fair to say the market has not liked what it has seen so far in the wake of the Deepwater Horizon explosion six weeks ago. On Friday, in an attempt to calm market fears Tony Hayward, BP's chief executive, along with chairman Carl-Hendric Svanberg and chief financial officer Byron Grote, held their first call with investors and analysts since the spill began.
In the course of just over an hour, most of it spent on a question and answer session, the three men attempted to present a picture of a company under pressure, but with the financial and technical wherewithal to meet the immense challenges it faces.
Harry Wilson, " BP's Tony Hayward: I'm a Brit. I can take it," The Telegraph, June 4, 2009
BP's CEO, Tom Hayward, is the worst kind of manipulative, entitled culprit. This isn't a matter of demonizing Big Oil any more than it already demonizes itself, but Hayward's rollbacks of any BP projects that were even remotely green is well known. The only green BP, or Tony Hayward, gives a flying crap about is money.
Clinton Fein "Green Screen," Annoy.com, May 26, 2010
"Greenwashing (green whitewash) is the practice of companies disingenuously spinning their products and policies as environmentally friendly, such as by presenting cost cuts as reductions in use of resources. It is a deceptive use of green PR or green marketing. The term green sheen has similarly been used to describe organizations that attempt to show that they are adopting practices beneficial to the environment."
Wikipedia" May 26, 2010
For Tony Hayward, who has led BP for the last three years, the accident threatens to overshadow all of the efforts he has made to burnish the tattered reputation of the company after a refinery explosion in Texas in 2005 and a pipeline leak in Alaska in 2006.
As Mr. Hayward said to fellow executives in his London office recently, “What the hell did we do to deserve this?”
Clifford Krauss, " Oil Spill’s Blow to BP’s Image May Eclipse Costs," The New York Times, April 29, 2010
Although there have been warnings of the threat to fishing and to the fragile ecosystem of the Mississippi delta, Tony Hayward, chief executive of BP, which leased the well, thought the impact would be limited.
"I think the environmental impact of this disaster is likely to have been very, very modest," he told Sky News. "It's impossible to say and we will mount, as part of the aftermath, a very detailed environmental assessment."
Harvey Morris, " Fears rise over course of BP oil spill in gulf," Financial Times, May 19, 2010
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