The Wall Street Journal reports
that BP is frantically "seek[ing] to reassure shareholders." The Associated Press tallies
up the bills (the first is $69 million) headed BP's way, courtesy of the federal government. The New York Times declares
the oil spill isn't the company's only problem: its CEO is a piece of
work, as well. Public outrage, too, continues to
build. With all these problems, and a disaster still unfolding, could this energy giant actually be in serious
trouble? Here's the latest on the challenges facing British Petroleum:
- What About Charging BP? Law professor David Uhlmann
at The New York Times evaluates the possibility of bringing criminal
charges against the company. Certainly it's beginning to seem like
there was serious neglect and misconduct involved, he writes,"but only
those directly involved in misconduct can be charged with crimes, and
it is likely that executives of BP, Transocean and Halliburton played
no such personal role in the disaster." The question is "whether BP or
the other companies misled the government about the integrity of the
well, or the amount of oil gushing from it. This could be the basis for
charges of felony obstruction of justice against the companies and
- BP in Trouble: Will Britain Bail Out? "BP is in real trouble," declares Andreas Whittam Smith
at The Independent. They have "concentrated on North America," and
they've just screwed that market up pretty perfectly. "I would argue
that BP's success is a British interest," he writes. "We don't want to
lose BP." He suggests the British government "give some help, just as
it did with Rolls-Royce 40 years ago."
- 'What About Nuking BP?' Portfolio's Steve Rosenbush
has read about the possibility of nuking the oil well. He's got a
better idea. The Soviets may have perfected the art of sealing leaks
with nuclear bombs, but "it's a good bet that the Soviets would have
tied BP CEO Tony 'I Would Like My Life Back' Hayward to a missile, by
- PR-Wise, They've Nuked Themselves At Mother Jones, Josh Harkinson
interviews "crisis communication expert" Chris Lehane, who is
pessimistic about the PR results of this spill: " I think BP at this
point is in some deep, dark, and unspinnable place," he says. "As a
corporate entity, based on everything I’ve read and seen, they
obviously still have a profitable business model; the problem is going
to be their reputation." They need to invite the US government in to
help and then change their name. As for their hope of being the "green"
oil company? Farewell to that, he says.
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