Friday, June 11, 2010

The BP (NYSE:BP) Whistle Blower

It is being proven by a whistle blower that BP's (NYSE:BP) corruption goes deep and for many years. A former BP executive, Rick Lacey said that he's watched the oil company for years put profits everything ahead of everything else.

Lacey started his tell all novel in 2002 while still employed at BP as a financial analyst and accountant for almost eight years. His novel is titled "Involuntary Separation: Corporate Downsizing Gone Fatally Wrong." He isn't surprised at all at the massive oil spill and details the numerous missteps and shortcuts that BP took.

After helping BP lay off thousands of employees, he quit in 1988. One of BP's strategies was to contract to other smaller companies to decrease their liability in case of oil rig explosions and other potential accidents. "Prior to downsizing, BP drilled for its own oil," said Lacey. "So they would've been running the entire operation themselves and they would be responsible for the safety and liability for the spill."

That way BP could shift the blame to these other companies, even if they were to small to be able to pay for the oil cleanup and would have to file bankruptcy, he said. "If it was a smaller spill, they'd let the drillers go bankrupt." He said the only reason they're paying for this spill is because of the huge amount of public outrage BP would get if they did not.

We saw the scenario at the congressional hearings where each company was pointing their finger at the other, even President Obama was outraged at the companies lack of responsibilities.


  1. In a world were people allow Abortion on demand; this seems like nothing more than a smart business practice.

    They are not intentionally looking for a crappy sub contractor or to create an oil spill.

    This EX BP troll is just peddling his book to our liberal trash congress.

    Who cares.

  2. Your grandchildren

  3. And your grandchildren's children.

  4. >>Anonymous said...
    >>And your grandchildren's children.

    Your reply was a short-cut to thinking. I did not say they were good people, or that I had no feelings about the spill they created and are responsible for.

    Yes the oil spill is bad and yes BP is to blame.

    But looking at their risk averison practices has nothing to do with it. They are shrewd business owners; so what.

    On a big deal - deep water rig- like this or any like it; it does not matter who the sub-contract to, because it will come back to them for liabilty anyway.

    I spent years living on a sail boat in Port A Texas on the gulf and now enjoy real estate investments on the gulf; I understand. My children and I are going down to the coast this month and they are not ALLOWED to go in the water...

    I understand better than you do Anonymous.

    My who cares comment is for this troll whistleblower. What the hell is he blowing? A legitiment business function? That fool is trying to promote his new book; my guess is that he will run for congress next....wait and watch. If Obummer can get elected anyone can.

    Lets look at where the regulatory people and goverment dropped the ball on making sure the rigs were safe. (no matter who owns or runs them)

  5. 1. Involuntary Separation, Corporate Downsizing Gone Fatally Wrong, is a psychological thriller set in the BP headquarters building and written to start a national dialogue on the issue of corporate downsizing.
    2. The spill can be attributed to the change in priorities at BP as revealed in its changing mission statement. BP once claimed to exist for the benefit of its stakeholders which it broadly defined to include not only shareholders but employees, vendors, and customers.
    3. BP admits blame, accepts responsibility, and has expressed its willingness to pay for the cleanup.
    4. Restitution is fine but what about punishment? The only way to punish BP is to require that it divest itself of its American assets and leave the country. Rather than paying for the cleanup with profits earned from American consumers BP would be forced to pay with profits earned elsewhere. The profits earned from the assets BP leaves behind would accrue to the benefit of the US. The net result would be that the US is ahead by the cost of the cleanup which could reach $80 billion.
    5. I predict that there will not be a single BP station remaining in the US by the time the cleanup is complete whether we have the courage to expel BP or not.

  6. Outsourcing within a company is common.

    All sorts of services are being outsourced by companies nowadays such as cleaning, facilities, food services, security, data backup, server hosting, etc. Even the US army outsources its food services.

    So is any company that hires Sodexo, Aramark or Haliburton corrupt?

  7. >>>"to require that it divest itself of its American assets and leave the country"

    Now this is foolish. sorry- not being rude, but the lib-tard socialist Obummer sitting in office and his like would love this as the solution.

    25% of BP oil stake is in the Gulf and American assets. This is not a punishment of BP; this would hurt you and me. Like the jack asses protesting the BP gas stations around the country. BP is not hurt AT ALL by that. The American small business owner is.

    BP will fix this and there will be better rules and safe guards in place for the next time. Fines, bills, and restitutions will be made. The Gulf will heal, and all of this will pass.

    My pain is not for the stupid animals; it's for the family's that depend on the Gulf and Gulf Coast industries to make a living.

    B Hussain Obummer jumped the gun and shut down ALL drilling like the fool that he is and is not using this and will continue to use this to forward his selling off of the American nation.

    BP needs to stay, fix it, and grow in a more professional manner.

  8. I'm confused. It says: "Lacey started his tell all novel in 2002 while still emp;loyed at BP.." Then it states: "After helping BP lay off thousands of employees, he quit in 1988...." Huh?