Tuesday, June 01, 2010
There must be an awful feeling in a CEO who knows that his company might face extinction because of a crisis. That feeling may well be present in the CEO of BP today. The market has given up on the company until it plugs the wild well. Then, it will be wary as billions in lawsuits work through the courts. About the only message that BP can send now is one of survival. That is, the company will grind through this and remain independent. The rest of the world is skeptical -- and should be. BP has become the negative example for the rest of the industry and its reputation is in ruins for decades to come. Perhaps it would be best if the company disappears -- or perhaps, changes its name.