how bain capital helped bp blow up the deepwater horizon
(was looking for an article of greg's on the whackjobs of the religious reich and found this)
How Bain Capital helped BP
blow up the Deepwater Horizon.
I almost fell off the barstool when I read that it was Bain Capital (Mitt Romney, former CEO), that told oil giant BP it was a good idea to cut costs. The cuts would lead to death, mayhem and the destruction of the Gulf Coast (not to mention BP’s poisoning of Alaska, Africa, Central Asia and Colombia).
In 2007, after BP's criminal negligence and penny-pinching led to the explosion at the BP oil refinery on the Gulf Coast, in Texas City, Texas, the company brought in industry pooh-bah James Baker, their lawyer and former Secretary of State, to write a report. Baker is Big Oil's BFF, but in this case, he was horrified, and told BP to get its act together and spend some real money on operating safety.
. . . . . .
That's what BP's CEO Tony Hayward did. In 2008, he hired Bain Capital to say the company would be better managed if it spent less money. Bain used consulting BS terms like reducing "complexity," but it all meant the same thing: cut, cut, cut.
After all, Bain's motto is, "We like to fire people." The oil company then fired 5,000 employees in response to the Bain report. To hell with safety. BP read Bain's recommendations
as the green light to chop funding. Of course, it was all done with Hayward's PR pronouncement that the company would now "focus like a laser on safety". (A laser, I'd note, is a thin beam surrounded by darkness.)
. . . .
http://www.gregpalast.com/how-bain-capital-helped-bpblow-up-the-deepwater-horizon/#more-6241
BP read Bain's recommendations as the green light to chop funding. Of course, it was all done with Hayward's PR pronouncement that the company would now "focus like a laser on safety". (A laser, I'd note, is a thin beam surrounded by darkness.)
= new reply since forum marked as read
Yet they hired the vultures at Bain Capital to tell them how to cut costs? 
