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BP has tons of cash to pay out through Lobbyists, make cutesy commercials to tell the public they are "Green" and friendly, pay out extraordinary bonuses...but not enough to put in a back-up shut off valve to avoid catastrophe...because it was too "expensive". If that is not a WTF moment, I have no idea what is.
Just like at Massey...they gamble with lives to save a few dollars, and bring about disaster...which in turn costs them exponentially more. The stupidity is mind boggling.
How many millions would have been saved, and those miners going home to their families, if some fans would have been placed in the mines as required? I have read various reports from several hundred thousand to about $500,000 to put those fans in and comply with safety regulations. because some jerks decided that "cost" was too much, Massey is now going to pay huge Federal/state fines, have OSHA, the EPA and lawyers breathing down their necks as well as the DOJ...and they have offered a few million to each family as compensation. All of this, because they did not want to spend, say, even a million dollars. 29 people died, so a company could save money, which in turn, cost them far more than what they saved...it is stupid on ice!
BP...I have heard varying estimates for a working shut off valve and a back-up valve...all far below what they are now going to pay out....and they cannot replace the 11 people killed because of their own inaction. Once again, to "save money", they have brought about great disaster, which will far exceed the relatively small amount they would have paid to do this in the "correct" manner.
People at the top of these corporations are paid immense sums of money, and can't get it "right"...in most cases, I wouldn't allow these people withing a mile of a decision making process.
As long as cash can flow, there will be immense problems...and little recourse for those of us that feel the brunt of these incredibly stupid decisions. Shareholders need to step up to the plate as well. Because of these idiotic decisions, that were implemented to "save money", they have lost small fortunes in their portfolios, then given the old mantra, "it's the price of doing business". The whole idea behind a Board of Directors is to make money for the company...what will be lost in clean-up, fines, lawsuits and decreased sales was not worth skimping on what was essentially...the right thing to do in the first place.
I am absolutely amazed at the level of stupidity that these "MBA" types have reached. How come virtually all of us "little people" realize that the best way to deal with potential catastrophe is to avoid it...we "get it", it's an easy concept. Even the MBA that made it all the way to the WH didn't have the brains to wipe his ass after he took a dump...is there something in that degree that brings out the stupidity?
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