Skip to content

Update 1: Talk About..

May 4, 2010

Hat-tip Propublica I hear Oppenheimer’s analyst Fadel Gheit, has a couple of related points..

1. In the year before the accident, BP aggressively cut costs. A reorganization stripped 5,000 jobs from its payroll, saving BP more than $4 billion on operations..

2. On April 27 BP told investors that its quarterly earnings were up more than 100 percent over the last year, beating expectations by a large margin.

Remember the date — the 27th — during which time (concurrently) BP boasted how their improved performance had both impressed S&P investment rating agency and superceded the industry’s growth expectations. We can guess how the folks most influenced by the performance word were those oblivious to field foulups (Prudho Bay.. anyone.!)

Technorati Tags: , , , , , , , , , ,

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: