I meant to post last week, but got behind on things, but I put BP on our Walk of Shame for the week. This still feels very timely though, as the crisis continues to wear on. I am not an expert on the industry, but it has come across as blundering and occasionally even lackadaisical response to this disaster (which will have environmental as well as economic ramifications for a heck of a lot of people). I was also floored by some of CEO Tony Hayward's comments on the situation that have been reported by the media. I'm pretty sure most of us would like to think that there are contingency plans for such disasters, that folks actually know what to do when they occur, and BP has not given a very comforting impression over the last month that it has much of a clue how to proceed at all. [more]
Today on Fool.com, I covered some interesting say-on-pay votes that took place recently at Motorola and Occidental Petroleum. Apparently some companies' shareholders are starting to voice their opinion that enough's enough, already.
... Clown noses! For my corporate governance piece today on Fool.com, I took a look at John and Lewis Gilbert, who were corporate gadflies ahead of their time, paving the way for many of the corporate governance pushes today. (Thanks to TMF Brich for the tip on these guys and their interesting legacy.) [more]
I put the Greek Tragedy on this week's Weekly Walk of Shame. And what horrifying footage to wake up to this morning, when I turned on the TV. Awful. Of course, this walk of shame is also that we shouldn't ignore the similarities in terms of the core problem, as it's arguably right here at home too. Our own government's out-of-control spending was shameful and unsustainable several years ago and it has only continued as folks like Krugman pooh-poohed "deficit hysteria" not so long ago, if I recall correctly. I still feel there's something (a lot of things) to be pretty hysterical about in this regard. (Not to mention we may be stunting private industry with some of the recent government actions, and still hinging misguided hopes that consumers will take on more debt to spend again when they never really dug themselves out of the original debt hole to begin with...) [more]
Recycle, reuse, renew. I'm covering green initiatives and innovations at the beginning of every month (or I guess the beginning-ish of every month). I believe a lot of new innovations in the name of sustainability could be very good for public companies. Of course, given the tragic occurrence in the Gulf, we also know that the opposite is true; BP has a major environmental disaster and a major public relations clean-up to contend with at the moment. Tough times all around on that front. [more]