Posted by Dale Buss on December 15, 2011 09:04 AM
American Airlines cuts flights, says not related to bankrupcy filing.
Avon looks to a new CEO to reinvigorate culture.
Chevron and Transocean encounter government suit over oil spill in Brazil.
Clint Eastwood signs on for E! reality show with his family.
Facebook tests coupon ads; embraces clean power following Greenpeace pressure.
First Solar scales back as demand for solar panels slumps.
Ford promises its new hybrids will leap ahead of Prius in fuel efficiency.
Groupon gets faint IPO support from its underwriters.Continue reading...
brands under fire
Posted by Shirley Brady on April 20, 2011 08:30 PM
Earlier today we noted BP's contrite actions (a 20-minute video, a Wall Street Journal piece with CEO Bob Dudley's byline, a homepage donning of a hairshirt) on the one-year anniversary of the Deepwater Horizon disaster, aka the worst offshore oil spill in US history.
Tonight comes news of how it's really marking the one-year anniversary: by suing rig-owner Transocean for a whopping $40 billion in damages. According to Yahoo, BP's suit — filed in federal court in New Orleans — shifts the blame by accusing Transocean "of causing last year's deadly blowout in the Gulf of Mexico."
BP blames Transocean because "every single safety system and device and well control procedure on the Deepwater Horizon rig failed." Similarly being sued by BP in a separate filing today for causing or contributing to the disaster: Cameron International, with the charge that its "blowout preventer " failed to prevent a blowout.
According to the BBC, BP's legal team is arguing that both companies "should help it pay for tens of billions of dollars in liabilities resulting from the spill, which include clean-up and compensation costs." Today is the deadline for companies to file claims against one another, as well as the last day for parties to sign onto a class action suit against BP and Transocean.
Update: Make that more than $80 billion — and add Halliburton to the list.
Posted by Shirley Brady on April 14, 2011 12:30 PM
A year after the Deepwater Horizon oil rig blew up (along with its reputation), BP clearly has a long way to go to rebuild trust.
As might be expected, the oil giant's executives were confronted by protesters (one smeared with a black, oil-like substance) and heated accusations at the company's first annual general meeting since the Gulf of Mexico disaster.Continue reading...
Posted by Dale Buss on April 6, 2011 09:00 AM
Aflac casting call for duck role inspires American Idol-type passions.
Apple asks Toyota to pull Scion-branded ad campaign for jailbroken iPhones.
Berkshire Hathaway and Warren Buffett are dogged by conflict-of-interest charges.
Blockbuster sells to Dish Network at auction for $320M.
BMW has a huge “green” advantage over rival Daimler, says analyst.
BP prepares to face investors’ wrath as Transocean executives to donate safety bonuses to families of Gulf blast victims.Continue reading...