"Maritime news: BP CEO Hayward goes yachting at posh JP Morgan race, while partner in damaged oil well jumps ship, says “BP’s behavior and actions likely represent gross negligence or willful misconduct.”"
AP: BP Chief Executive Tony Hayward, centre, sits aboard his yacht Bob, during the JP Morgan Asset Management Round the Island Race, Saturday June 19, 2010.
The most out-of-touch CEO on the planet, BP CEO Tony Hayward got his “life back” for a day at “glitzy yacht race.” Some reports said he merely attended the event, but AP reports (with photo above) that he was aship while his company — and its oil — runs aground.
Why oh why hasn’t Hayward been fired yet??? I suppose it’s because the guy who could fire him, Board Chair Carl-Henric “We care about the small people” Svanberg is equally tone deaf.
While Hayward was yachting, BP’s “main partner in the damaged exploration well,” Anadarko Petroleum, was fleeing BP like … well, like the kind of creatures who are known to flee a sinking ship. In a damning statement, chief executive, Jim Hackett said:
“The mounting evidence clearly demonstrates that this tragedy was preventable and the direct result of BP’s reckless decisions and actions. Frankly, we are shocked by the publicly available information that has been disclosed in recent investigations and during this week’s testimony that, among other things, indicates BP operated unsafely and failed to monitor and react to several critical warning signs during the drilling of the Macondo well. BP’s behavior and actions likely represent gross negligence or willful misconduct and thus affect the obligations of the parties under the operating agreement.“
Is there no honor among oil companies? Not when real money is at stake, as the WashPost reports today:
Hackett’s comments have huge financial implications. As a 25 percent partner in the well, Anadarko would ordinarily be responsible for a quarter of all cleanup and damage costs. But, Hackett said, “BP’s behavior and actions likely represent gross negligence or willful misconduct and thus affect the obligations of the parties under the operating agreement.” He said Anadarko would donate to charity and civic groups any proceeds it receives from the sale of oil collected during the cleanup.
What a guy! Looks like there’s one oil company CEO talking to public relations experts.
It seems increasingly likely that BP will be found guilty of gross negligence or worse:
- The three causes of BP’s Titanic oil disaster: Recklessness, Arrogance, and Hubris
- Stupak stunner: Oil well’s blowout preventer had leaks, dead battery, design flaws, “How can a device that has 260 failure modes be considered fail-safe?”
- Is BP the Goldman Sachs of Big Oil? CEO Hayward says to fellow executives: “What the hell did we do to deserve this?”
- E-mail from BP engineer called Deepwater Horizon rig a ‘nightmare well’ six days before explosion
- Time to fire BP CEO Tony Hayward