Another BP shareholder meeting, another load of Dudley
Bob Dudley, presiding over the British Petroleum shareholders meeting, read aloud the names of the eleven men who died on the Deepwater Horizon, and then spoke of , “working hard to earn back trust…through our actions, not just our words…”
– Oh, and he proceeded to mock an activist shareholder, Antonia Juhasz, who read a letter written by the father of one of the men killed, saying in response, “Many of your statements sound like they were prepared by a plaintiff’s attorney.”
Bob Dudley, presiding over the British Petroleum shareholders meeting outlined several of the changes British Petroleum has made to revamp its management structure and build safety into its everyday operations, thus hopefully making drilling safer.
– Oh, and shareholders proceeded to re-elect as director Sir William Castell, who as chairman of the company’s safety, ethics and environment assurance committee presided over the explosion of the Deepwater Horizon.
– And…Mr. Castell was also the individual at the meeting who tried to cut off Antonia Juhasz when she read, “This was no act of God — BP, Halliburton and Transocean could have prevented this…but it would have taken more time, more money, and you were too greedy to wait. You rolled the dice with my son’s life, and you lost.”
– And…shareholders then proceeded to award bonuses to various executives, including making Tony Hayward eligible for vested performance shares for 2010, worth up to 8 million pounds.
BP Chairman, Carl-Henric Svanberg, also presiding over the British Petroleum shareholders meeting, said a lot as he tried to reassure restless stockholders, “”Everything we have done since Deepwater Horizon has had one aim; to win back the trust of shareholders and communities the world over…” and, “BP remains a great company, with a great history and, I believe, a great future…” and, “I can assure you I will do everything I can to bring a prosperous future for this company.”
– Oh, and shareholders proceeded to authorize BP to continue making political donations…
– Because…donating to political figures is something BP will surely need to do, for though Mr. Svanberg is confident in the future of his great company, the future is not so assured for the “community,” for the Gulf Coast residents who have been so harmed by the actions of his company, and there still remain a few politicians who will need donations to forget this fact.
– And…even though Bob Dudley can say that 99% of fishing waters in the Gulf have reopened and the EPA nd FDA’s testing of seafood from said opened waters is safe to eat, the general public is still not so convinced, thus, nobody is buying the seafood.
– And…even though Bob Dudley can say he is determined to earn back the trust of communities, it is his company which unleashed a Ken Feinberg on the Gulf Coast who while doing his best to ensure BP remains solvent, is doing far less to guarantee the same for the Gulf Coast residents.
– And finally…though Bob Dudley can respectfully recite the names of eleven men to his company’s shareholders, many will debate just how much of it was media/political theater, and how much of it, considering the other activities that occurred at this meeting, was sincere feeling for both the grieving families, and for a region still trying to recover, a region that still hopes, one day soon, their reality might again sync up with the glowing reports from British Petroleum’s own public relations campaign.
– Oh, and have a nice day.