(Wall Street Journal) — The U.S. Justice Department filed a civil oil-spill lawsuit Wednesday against a BP PLC unit and several other companies, the federal government’s first major legal action in the Gulf of Mexico disaster. The other defendants are subsidiaries of Transocean Ltd., which owned and operated the Deepwater Horizon oil rig; Anadarko Petroleum […]
(Businessweek) — Last year, Mary Metoyer’s New Orleans flooring company took in just $80,000 in revenue, one-third of her annual revenue before Hurricane Katrina struck. Her customer base of landlords and homeowners had started to return, but many were then hurt financially by the BP (BP) oil spill. When the bank she went to for a […]
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What people will do for a tax write-off is stunning.
CEOs must recognize “the inextricably intertwined roles of symbolism and substance in the office of CEO today,” said Jeffrey Sonnenfeld, a senior associate dean at the Yale School of Management. Sonnenfeld was referring to Tony Hayward, the BP CEO who has been strongly criticized for his apathetic handling of the oil spill disaster. Since he […]
(Wall Street Journal) — Bob Dudley, BP PLC’s lead executive in the Gulf of Mexico, spotted his U.S. government counterpart, retired Adm. Thad Allen, at the New Orleans hotel where both were staying earlier this month. Wanting to say good night after a long day, Mr. Dudley instead got fresh orders. Read More…
Officials say if this lasts, first step of many.
(Black America Web) — The oil has stopped. For now. After 85 days and up to 184 million gallons, BP finally gained control over one of America’s biggest environmental catastrophes Thursday by placing a carefully fitted cap over a runaway geyser that has been gushing crude into the Gulf of Mexico since early spring. Read […]
(Genesis Communication Network) — Former high-level BP contractor and Army Special Operations soldier Adam Dillon told a New Orleans television station that British Petroleum is not interested in cleaning up the oil spill because the company is run by “cutthroat individuals” who only care about money. Dillon was fired by BP “after taking photos that he […]
(BusinessWeek) — BP Plc plans to start testing today on a new cap over its leaking Gulf of Mexico well to determine whether it can stop the largest U.S. oil spill in history while continuing work on a permanent plug. Starting about noon local time, a 40-foot (12-meter) stack of valves secured atop the well yesterday […]
(Daily Beast) — As oil continues to gush into the Gulf, the oil giant’s embattled CEO, Tony Hayward, is on an around-the-world tour to save his company and his reputation, but Tom Bower reports that he’s likely to be gone soon. Read More…