This is a serious gem. Not just because it's almost too gem-like to be believed, but because the subject matter is extremely serious. As the New York Times reports:
"Despite the April 20 Deepwater Horizon disaster, BP has no plans to leave the Gulf of Mexico or stop drilling for oil in other deep ocean waters."
"Although BP, based in London, could have raised the funds by selling valuable deepwater assets, it decided to dispose of onshore assets instead. Analysts say the choice shows that BP is committed to deepwater drilling."
Someone explain to me just how the company is managing to continue its total lack of regard for even the most basic forms of risk management in its core business operations. Calling Congress: this is yours to clean up now.
And before we adjourn this painful gem of the day, here's the two real zingers The Times delivers:
"The Deepwater Horizon accident has gravely damaged BP’s reputation. Even if the company can contain the political damage, its growth will be stunted by its need to save cash to pay for the spill."
“BP will probably end up a more humble company,” said Brian Youngberg, an energy analyst at Edward Jones, a brokerage firm based in St. Louis.
Memo to Jad Mouad: Please stop reading Marketing Magazine. This is Beyond Reputation.
Memo to Brian Youngberg: You're fired.