Why was a company making billions in profit

noise

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 09:59 AM
Original message

Why was a company making billions in profit

cutting corners to save a few bucks with the pollution of the entire Gulf at stake? This reminds me of those stories about companies that cut costs by not installing a 50 cent part which leads to several needless deaths. Was the CEO worried that if he complied with safety regulations that he might only make $20 million instead of $25 million?

Printer Friendly | Permalink | | Top

charlesg

(311 posts) Send PM | Profile | Ignore

Sun May-23-10 10:03 AM
Response to Original message

1. BP's corporate culture is based on cost cutting and profiteering

They have so much cash that they'd rather pay the fine, or pay somebody to shut up, than make changes.

Printer Friendly | Permalink | | Top

SharonAnn

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 11:01 AM
Response to Reply #1

4. Managers maximizing their individual bonuses by reducing cost, increasing profit.

And hey, if things go bad, the individuals won't have to pay for the cleanup.

Printer Friendly | Permalink | | Top

w4rma

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 10:04 AM
Response to Original message

2. Yes. Those safety costs really end up coming right out of the same pool of money that the executives

use for their own bonuses.

Printer Friendly | Permalink | | Top

Mika

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 10:15 AM
Response to Reply #2

3. Retirees demand dividends too. You see the ads. Investors rule. How else will they live?

W/o socialized infrastructure in the US what other way is there to retire or pay for it?

Its a systematic and cultural failure.

The so called American spirit of "rugged individualism" ~~will sink us~~ is sinking us like the Titanic.

Printer Friendly | Permalink | | Top

Trillo

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 11:53 AM
Response to Reply #3

8. I don't get some of your point about "individualism".

On the one hand you claim that third parties to the decision makers (investors) are skewing the outcome, on the otherhand you say rugged individualism is sinking us.

Either one human is in charge and making all decisions, and thus can be correctly considered individualism: or more than one human is in charge, negating individualism by definition.

Perhaps you mean that a corporation, made up of many individuals, is a single entity and thus qualifies as an individual under the same definition?

Printer Friendly | Permalink | | Top

glitch

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 11:07 AM
Response to Original message

5. Because greed is a mental disorder, they truly can't help themselves.

They need an intervention.

Printer Friendly | Permalink | | Top

HughMoran

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 11:08 AM
Response to Original message

6. Why do people look at Blackberries while driving, risking their own lives

& the lives of others?

Sometimes it takes an accident to wake people up. Make acoustic bops mandatory and stop all deep-sea drilling until safety can be guaranteed. If safety can't be guaranteed (which I don't think it can), then no more deep-sea drilling.

Printer Friendly | Permalink | | Top

stray cat

(1000+ posts) Send PM | Profile | Ignore

Sun May-23-10 11:48 AM
Response to Original message

7. Because we were buying the oil and Americans prefer cheaper oil to more expensive oil

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Fri May 03rd 2024, 03:28 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.