Wednesday, June 9, 2010

Editorial: BP's Actions Need Fine Tuning

Testimony reveals BP has not contacted families of those killed. Claims are still slow. BP complains the Gulf disaster will drive oil production costs up.

You need to hire grief counselors for those in the BP family of employees that are affected by losing a loved one (Best accomplished using attorney, client, shield -nothing learned gets out; small, local law-firms).

FEMA is very good at claim processing, you will need an appeal process where senior management reviews those claims or parts of claims turned down (local feedback).

The PR concept, people lining up for a check, will not give the image, BP is a business treating those affected as associates, future and current customers.

Could not find your claims account on your income statement. Claims accounts are more than a tax shelter, they work the same as fire drills. When gas was over $4, a competitor testified, tax breaks and the like were not welcomed, do not help get more oil. From a business perspective, they decrease barriers to entry. The constant focus has left many firms with the idea your industry is hugely profitable.

Our President has insisted that BP's plans include redundant systems. No shortage of barges in your neighborhood. Most people want BP to recover the oil and turn it all into fuel for their cars. Burning would be a backup, redundant system.

by J John Swanko


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