Saturday, June 19, 2010

On Robert Dudley

Here's our new man in charge of the oil spill in the Gulf. Couldn't find too much about him other than he has an MIM? degree from Thunderbird School of Global Management and an MA from Southern Methodist. I thought "Thunderbird"? Sounded like internet diploma mill to me or something you'd find on a bubble gum wrapper. It's difficult to find out much about him since he worked for Amoco in Russia on a joint venture. I guess however the four billionaire Russian investors who have a major stake in TNK (that's the russian half) were trying to regain control. It gets complicated but the gist of it goes like this: "TNK-BP is of enormous importance to BP, representing 24% of production and 19% of total reserves in 2007. In 2008, TNK-BP chief executive in Russia, Robert Dudley, was expelled from the country, as part of the power-broking between the two owners."
Can you say scapegoat?

BP had a 96% stake in TNK before Dudley do right was removed and now an agreement for a 50/50 split was reached. To me this looks nothing more than a corporate power struggle but if Dudley gives us the same BS as Hayward did then we'll know that his competence can be called into question.

In researching this I find a very interesting pattern. Corporations who once did business solely in the U.S. have conveniently moved their operations, first from Houston, Texas then to the Bahamas and now to Switzerland. And you may remember that the Swiss were about to open up their banking records so that the IRS could have a peek at all the tax cheaters. Looks like they've changed their minds and that won't be happening any time soon. But then I'll leave this for another post.


an average patriot said...

Sounds like Budweiser or Disney college. I got my degree from Budweiser College at Disney world.

Seriously he will be scapegoated again and the ass Tony halfwit who was getting his life back today watching his yacht race around the Isle of Wight will reemerge unscathed to F up again!

Tim said...

Thunder Bird wine, we used to call it t-bird.
Back to reality... I don't know where you found thoses tid bits, but kudos.

They are a slimy lot.

S.W. Anderson said...

Interesting stuff. I was less than impressed with managing director Dudley when I saw him on CNN denying there were any underwater oil plumes -- days after news stories appeared about university groups working in the Gulf confirming their existence, tracking and measuring them.

What's that saying, "Don't p--s down my leg and tell me it's raining"?

The Blog Fodder said...

Thunderbird is one of THE top management schools in the USA. Friend of mine went there.

As to TNK-BP - doing business in Russia is not necessarily a good thing. If it turns out profitable they tend to find all sorts of ways to squeeze you out. Taxes and environmental regulations being the top two. If it is only one person, a bullet does well but that was more in the '90's.

Kind of a bum deal for the Gulf if you are correct that from here on in, the oil will continue to gush, and no stopping it.

Anonymous said...

You need to do some basic homework before making useless comments on your blog. Thunderbird is one of the most prestigous international mgt. programs in the world.