BP Losses Hit $100 Billion

Posted by Shirley Brady on June 25, 2010 09:00 AM

BP shares this morning hit a 14-year low, dragging European markets with them. Its market losses: $100 billion.

Having spent $2.35 billion to date on the Gulf oil disaster, the company says a relief well to plug the leak is on track.

Instances of cleanup contractor fraud surface, as suicidal contractor's woes are revealed.

Company's planned Liberty drilling project in Alaska is also under fire as U.S. deep water drilling debate continues

The Tate Gallery in London is bracing for protests as BP-sponsored exhibit opens and BP holds fast to cultural sponsorships.

Lawsuits, meanwhile, are piling up.

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World Cup Daily

World Cup: Nike vs. Adidas Heats Up

Posted by Shirley Brady on June 24, 2010 02:15 PM

Nike is leveraging the success of its 2010 World Cup Write the Future ambush marketing effort with a campaign extension that promotes HIV/AIDS awareness in partnership with (RED), above. The pro-social message, which stars soccer icon Didier Drogba, is particularly apt in Africa as "ground zero" for the global AIDS crisis.

It's also letting fans "Write Your Headline, Write the Future" in an interactive extension of its World Cup campaign. Johannesburg's 30-story Life Center is serving as a digital billboard (check it out after the jump) that projects a mix of soccer stars with social networkers' personal messages sent via #NikeFuture on Twitter, Facebook, QQ in China and Mxit in South Africa.

Adidas CEO Herbert Hainer isn't too worried; he expects the brand's official World Cup sponsorship to blow past projections, having already garnered almost $2 billion in sales.Continue reading...

Shell Ads: "We're the Good Guys"

Posted by Shirley Brady on June 24, 2010 12:30 PM

Shell Oil hopes to distance itself from BP with "aggressive" campaign, dubbed Let's Go, that includes energygalaxy.com and shell.us/letsgo, plus print and TV ads (more after the jump).

BP, meanwhile, is pursuing "risky" drilling in Alaska; based spill contingency plans on faulty U.S. data, reports the Wall Street Journal; reinstalled the cap on its damaged containment unit; rejected 900+ crowdsourced ideas from respected members of InnoCentive community; and dismissed rumors it may shed its Latin American assets. BP's new Gulf Spill chief Bob Dudley also held his first press conference in a bid to offset criticism of the company.

Bloomberg Businessweek argues that America can't turn its back on BP, as U.S. executive pay czar Ken Feinberg announces he is stepping down from that role to focus on administering BP claims.Continue reading...

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charm offensive

Goldman Sachs Buffs Tarnished Brand

Posted by Barry Silverstein on June 23, 2010 03:30 PM

Big bank Goldman Sachs is trying to repair its reputation, damaged by charges of civil fraud and a criminal investigation — never mind an embarrassment of riches in the firm's report of over $13 billion of net earnings in 2009.

So it may come as no surprise that Goldman Sachs is reportedly considering everything from an ad campaign to an appearance on The Oprah Show by CEO Lloyd Blankfein.

The Wall Street Journal reports that Fiona Laffan, head of media relations in Europe, the Middle East and Africa for Goldman Sachs, publicly stated that "mistrust and hatred of bankers, not just those at Goldman Sachs, remained near an all-time high and that the bank, as an industry leader, needed to do a better job of explaining what it did and how."

Goldman Sachs has already gone on the offensive.Continue reading...

BP Watch: Cap Removed Post-Accident

Posted by Shirley Brady on June 23, 2010 01:45 PM

On Bob Dudley's first day running its cleanup operations, BP was forced to remove containment cap following an accident involving an underwater robot. MSNBC's live video feed shows the oil gushing unfettered while crews work to repair the damage.

New York State pension fund joins class action investor lawsuit, while UBS, Aviva and other investors see opportunity.

BP is allocating $500 million to academic research on the spill's impact.

Environmentalists are alarmed about sea turtles' fate, while concerns are also being raised about cleanup workers' health.Continue reading...

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brand news

In the News: BP's Dudley Aims to Do Right in the Gulf

Posted by Shirley Brady on June 23, 2010 08:00 AM

BP today puts U.S. managing director Robert Dudley, above, in charge of its Gulf spill operations, reporting to embattled CEO Tony Hayward.

An analyst tells the New York Times, “He’s not only a good ol’ boy, but he’s from Mississippi and he doesn’t have a British accent,” a reference to Hayward.

Spirit Airlines, meanwhile, is being criticized for ad campaign that spoofs the BP oil spill.

More brands in the news after the jump.Continue reading...

brand news

In the News: Apple, Facebook Add Location Features

Posted by Shirley Brady on June 22, 2010 08:00 AM

Apple releases iOS 4 and targeted ads as it starts collecting and sharing iPhone users' locations. Facebook also plans to add geolocation feature "soon."

Amazon cuts Kindle price as Barnes & Noble discounts Nook e-reader.

AT&T looks to repair image through customer care-based social networking.

BP CEO Tony Hayward is expected to visit Russia to shore up company's interests.

Coca-Cola, Heineken and Diageo support U.K. pub-rating website.

Foursquare teams up with C-SPAN for political education.Continue reading...

brand news

In the News: BP Brand Dinged $1B?

Posted by Shirley Brady on June 21, 2010 06:30 PM

Criticism of BP has shifted in full force to CEO Tony Hayward, who has cancelled a planned speech tomorrow in London, and was criticized by the White House for taking time off to go yachting on the weekend.

The damage, to date, to BP's brand? An estimated $1 billion, according to reputation management firm General Sentiment. Adweek, meanwhile, calls BP's social media marketing "aggressive," while Brand Republic reiterates the need for more "brand humility" at BP and beyond.

In other brand news, Bavaria Beer's so-called ringleaders of the orange dress-clad ambush marketing stunt at the World Cup appear in court tomorrow.Continue reading...

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