Aug
31
It’s the silly season: New Stories for Old
Tue, 08/31/2010 - 11:43
Last week Kristina Fiore, Staff Writer, MedPage Today reported on some research that had found that faced with restrictions on tobacco advertising in traditional venues, cigarette makers were using YouTube to reach the youth market.
The story was widely picked up by the broadcast media. Perfect story: a research story based on ‘bad’ cigarettes, those even worse cigarette manufacturers and unregulated YouTube – a ‘banker’ as stories go.
Kristina Fiore reports that a George Thomson, PhD, of the University of Otago in Wellington, New Zealand, and colleagues reported in online in Tobacco Control and published in national newspapers including the Sydney Morning Herald that almost three-quarters of 163 videos spotlighting brand-name cigarettes had pro-tobacco content, compared with less than 4% with anti-tobacco messages. The videos are "consistent with indirect marketing activity by tobacco companies or their proxies," they wrote.
She supported her story with quotes from Scott Tomar, PhD, a tobacco researcher at the University of Florida in Gainesville.
Nice story. You Tube's anonymity provides the perfect cover for exploitative companies wanting to access a young audience, and it's free advertising--possibly an irresistible combination for tobacco companies, which are increasingly constrained from utilizing more traditional advertising avenues.
But the story first appeared four years ago in November 2006 in New Zealand where it was widely reported. The research is four years old.
We’ve always said that research is the first and last resort of PR professionals - seems it applies to journalists too looking for copy during the silly season.
Aug
23
Promoting altruistic gestures – handle with care
Mon, 08/23/2010 - 10:13
Tony Blair’s charity donation: wiping the slate clean or cynical PR ploy?
Warren Buffett and Bill Gates — America's two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — persuaded 38 other billionaires to sign The Giving Pledge, and give away half their wealth to charity.
The media couldn’t fault the plan. Why? Because it’s promoting a giving culture, is not dependent on promoting anything in particular or any individual in particular.
Contrast this with the media reaction to the announcement last week by former UK PM, Tony Blair, whose legacy to history will be entering the UK into the Iraq and Afghan wars, that he will hand over the £4.6m advance and any profits (it’s actually unclear how all this is worked out which didn’t help the media reaction) from his autobiography (due out in two weeks) to the Royal British Legion to open a state-of-the-art sports centre for wounded servicemen.
The media was almost vitriolic of its condemnation: the The Daily Mail used the headline: ‘Blood Money’ Blair gives £5m book cash to troops’, while the Murdoch newspapers The London Times and the Australian ran with the heading: ‘Blair tries to turn page with a £5m donation’
Why? Because no matter how Tony Blair and his team dressed it up, it smacked of self promotion.
The Blair donation announcement last week took the publishing world by storm. Doom merchants had predicted that Mr Blair’s autobiography, entitled Tony Blair: A Journey (something biblical about this), would be a disaster.
At a stroke, the book that had languished in Amazon’s pre-order list, with just a few hundred copies sold, soared to seventh in the best-seller list two weeks before publication. Mr Blair, whatever his motivation, had effectively bought himself a best-seller.
Take a PR lesson from IBM: I was on an IBM press trip to look at banking solutions. Our coach, packed with international media, passed in front of La Scala opera house in Milan. The banners outside told a story: that year’s entire opera season was being sponsored by IBM. We were impressed. But consider this: if IBM had promoted this to us as a ‘Good Thing’, ‘aren’t we Good People’, we’d to-a-man have sniffed: just promoting themselves.
Lesson: handle charity donations with care. Altruistic gestures need to be seen as just that, Mr Blair – altruistic.
Aug
17
In the battle for online readership registrations, just what do we mean by readership?
Tue, 08/17/2010 - 10:07
Daniel Ambrose’s Mediapost blog makes a nice point.
Time Inc’s celeb magazine People is the world's most profitable magazine.
Three million, four hundred and fifty thousand readers pay to read People magazine every week, and over forty million (40.08) read it free every week. And we’re not talking about Internet readership.
So there are three and a half million People readers who don't want to miss an issue, they subscribe or buy People on the newsstand; then there are another 40 million readers who are somewhat less committed, probably don't read it cover to cover, and certainly not every issue.
So People achieves its profitability by giving away more content. How can they make money when they give away so much free? These casual readers are a significant part of what makes the People franchise so valuable. Advertisers want to reach them.
Virtually every print property has multiple readers per copy -- some far more than others. Most newspapers have more than two readers per copy, and lots of magazines have between three and six because weeklies and monthlies have time to accumulate additional readers while they sit on tables in the dentist’s, hairdresser’s, office for a week or a month or more. These secondary readers are likely to be highly engaged with an article, but not so frequently that they want to pay for a subscription or buy a single copy.
So print did not thrive because its readers pay for it. If the People model is anything to go by, most print readers don't pay. But both groups of readers because they are engaged, are valuable to advertisers. This is of course how Controlled Circulation magazines work – a targeted audience in an identifiable market, a readership registered for free issues - advertisers want to reach them.
What can we learn from this about making money in online publishing? The Internet allows us to discriminate between those people who care enough to pay, and those who don't, with metering systems.
Daniel Ambrose reckons that Murdoch's News Corp., like all top media companies, is evolving to a model that extracts the most money, often in the form of subscriptions, from the most avid, or needful customers, and makes some or all of the content available to others on a more casual basis.
After his purchase of the Wall Street Journal, Murdoch's company, News Corp., did not follow up widely speculated strategy to drop the pay wall, but kept it up on the WSJ site, meanwhile adding lots of free content to attract readers and increase the total advertising inventory - not too much, not too little, but just the right amount of free content.
Another example of this approach is a recent Time magazine announcement that it will limit access to magazine content in a variety of ways.
Daniel Ambrose’s point is this: the magazine and newspaper businesses evolved over 250 years to optimize by working out the right balance between circulation and advertising revenue, developing circulation sales strategies that were economically viable. Online publishing will work it out, once it has worked out which bits and how to merchandize content?
Meanwhile the Murdoch News Corp machines goes on: it has just reported a record year with net income at $2.5 billion. The London Sun, London Times, Wall Street Journal and the Aussie titles managed $115 million profit in quarter four (to June 30), up 20 per cent, and on the year $530 million, up 16 per cent.
Aug
10
The Disaster that never was? The oil goes and with it goes CEO Tony Hayward
Tue, 08/10/2010 - 10:37
The BP Oil Spill PR battle was won by the Greens, the anti-oil lobby, the anti-capitalist lobby and President Obama fighting for his popularity. Can BP get its street cred back? By throwing Hayward out with the oil, I think it just might.
“The warm, white sand stretches for miles as clean and flat as a freshly laundered bed sheet. The turquoise sea is so clear that I can see silvery fish playing around my toes as I take a cooling paddle. If there is any more pristine resort in which to spend a summer holiday than Pensacola Beach, on the Gulf Coast of Florida, I would like to find it.
“And yet, at a time of year when usually there is barely room to unfold a deckchair, the shore is eerily deserted. ....”
So writes David Jones in the UK's Daily Mail , August 6th just four days ago.
Why no tourists? Well no-one has come to Pensacola because it was supposed to be knee-deep in oil and awash with dead dolphins and oil-covered pelicans. We all saw the pictures and read it in the media...it must be true!
Grunwald takes a brave stand
All praise to goes to an article by respected Time magazine environmental writer Michael Grunwald on July 29 entitled ‘The BP Spill: Has the Damage been Exaggerated?’, who dared to voice the near-heretical proposition: that the effects of the Deepwater Horizon disaster on April 20 had been massively hyped.
President Obama, who renamed the Deepwater Horizon spillage the BP oil spill, called it "the worst environmental disaster America has ever faced". Green Groups and the media weighed in. The big enemy oil and capitalism were the culprits.
Headlines were easy: "Catastrophe along the Gulf Coast”... "Disaster in the Gulf" "environmental catastrophe". Michael Grunwald points out that only “the obnoxious anti-environmentalist Rush Limbaugh has been a rare voice arguing that the spill — he calls it "the leak" — is anything less than an ecological calamity, scoffing at the avalanche of end-is-nigh eco-hype.”
“Well,” continues Grunwald bravely, “Limbaugh has a point. The Deepwater Horizon explosion was an awful tragedy for the 11 workers who died on the rig, and it's the biggest oil spill in U.S. history...but it does not seem to be inflicting severe environmental damage. He goes on to back up his comments with a catalogue of facts about the minimal effects on the wildlife, coastal waters and fishing – which, if you’re interested, you should read his article.
The green groups, the anti-capitalism, the anti-oil lobby, and President Obama desperate to restore his popularity, won the PR battle. These PR groups have a lot to answer for given the ongoing damage to tourism and industry, despite the dispersal of the oil.
It remains to be seen if BP can re-build its brand.
The PR opportunity
I have written about BP’s management of the disaster which hasn’t been that bad – BP took it on the chin, led from the top, but Tony Hayward turned out to be a bit of a poisoned chalice with the now infamous Hayward gaffes.
But the gaffes in themselves played into BP’s hands: by identifying the disaster with the man Hayward, you get rid of the man, you get rid of a lot of the damage and have the opportunity to start to rebrand.
Lucky for BP that the oil went at the same time –or maybe BP timed Hayward’s departure meticulously to coincide with the oil dispersal - because they alone knew the extent of the plugging of the leak and the success of the clean up operation.
The perfect PR strategy was to get rid of the CEO whose name has been synonymous with the oil disaster, as the disaster was about to disappear.
The approach has form: the Townsend Thoresen ferry boat, the Herald of Free Enterprise, went down in icy waters killing 193 people - that year the Townsend Thoresen ferryline rebranded to P&O European Ferries; Union Carbide Corporation was responsible for the world’s worst industrial catastrophe at Bhopal in India - the Bhopal plant was sold to McLeod Russel (India) Ltd and UCC is now a subsidiary of Dow Chemical Company; the Exxon Shipping company responsible for that ‘other’ huge oil spillage, is now the Exxon Mobil Corporation and the infamous oil tanker the Exxon Valdez is now renamed the Dong Fang Ocean.
As BP posts losses of $16.9bn (£10.9bn) for April to June, after setting aside $32.2bn for costs linked to the Gulf of Mexico oil spill, the oil is gone and Hayward with it. Let’s see if BP and its new American CEO Robert Dudley can survive the waiting takeover bids and resuscitate its brand. It certainly has the opportunity.
Jul
19
Murdoch takes a stand in the price war for content – and it could be the right one
Mon, 07/19/2010 - 12:10
It’s always been said that publishing is a profession for gentlemen. Law and banking have always been more lucrative.
Publishing, in particular in the newspaper business, has always been more about gaining influence than making money. Then the internet came along, and publishers mistakenly thought they were part of a twenty-plus-billion-dollar online industry. No, that’s Google’s territory.
Publishers began by giving free access to their content online – apart from media mogul Murdoch whose London Times and Sunday Times blocked Google News from aggregating content from its website. But who benefited?
Try this list on (in no particular order and courtesy of Ari Rosenberg in MediaPost): Ad Servers, Ad Networks, Rich-Media Vendors, Behavioral Targeting Companies, Online Agencies, Data Mining Companies, Analytics and Research Companies, Malware, Search/Portals, Content Aggregators, Yield Optimizers.
Not a publisher in sight!
Ari Rosenberg is right in his MediaPost blog: Publishers must convince advertisers that they can deliver consumer engagement before anything positive can happen. So why are publishers struggling to define the consumer engagement they deliver online? It's because their content is not directly paid for. When content is purchased, engagement is a given.
Agreed. The dividing lines in the battle for content – free or paid – are beginning to become clearer. Last week on the Spin Bin, we explained why it’s not Google’s fault – Google is all too aware how news works, and would agree with Rosenberg when he says:
“Great content should be purchased. Inferior content should be voted off the island. The difference between the two can be found by measuring the commitment consumers make to embrace it. By lowering the level of commitment required online, publishers have lowered their own value.”
The Financial Times already has a paywall up and is claiming success, and now we have Murdoch with his London Times and Sunday Times taking a stand.
Rupert Murdoch is brave enough to stand his ground. His business rationale probably goes something like this: We’re sure to be left with far fewer impressions than we have now, but enough people paying online to provide the sales staff with an online engagement story that will drive higher value and prices, while embarrassing much larger free sites.
It will be just like selling a paid-circulation magazine versus a free-sheet. Each has its own content, market and margins…Remember them?
Jul
12
Will Murdoch Foxify Sky News?
Mon, 07/12/2010 - 13:07
My old left wing Editor used to read the right wing Daily Telegraph religiously every day so he could get more and more angry about the reporting.
All newspapers have a political tendency, some greater than others, but in the US, TV news channels do too.
The debate is hotting up in the UK. Recent moves by Rupert Murdoch to acquire the 61 per cent of Sky TV he does not already own have raised the question: Does Rupert Murdoch want to turn Sky News into Fox News?
Stephen Glover sums it up nicely last week in the Independent. At the moment Sky News is pretty even-handed, constrained as it is by Britain's television impartiality laws – although many right wingers would say that the BBC has a partiality for the left.
Most pundits have assumed that Murdoch’s chief motivation is financial: Sky is expected to make enormous profits over the next few years, and Murdoch would like to be the sole beneficiary.
But there is another theory: that he wants to make even more money by turning Sky News – a loss leader with a small audience – into a more profitable British Fox. This is what Polly Toynbee suggested in the Guardian last week.
There is some evidence. Last August, Murdoch’s son James delivered a lecture at the Edinburgh Festival in which he attacked the power of the regulator Ofcom and impartiality laws. In January, John Ryley, head of Sky News, said that the impartiality laws should be scrapped.
It is rumoured that the Media Mogul and David Cameron had made a Faustian pact, and the Murdoch-owned Sun Newspaper did indeed desert New Labour and embrace the Tories last autumn.
Regardless of the removal of impartiality laws, gaining control of Fox News would certainly give Murdoch the licence to move Sky News into a channel with ‘attitude’, as Stephen Glover describes it.
It amuses me that left wing Polly Toynbee, writing in the left of centre Guardian, is horrified that TV might go the same way.
When President Obama declared war on Fox News last year for its right wing bias, it was the more level headed Campbell-Brown of CNN who explained why right wing Fox News had the right to exist just as left wing MSNBC: “Some of us, like my colleagues here at CNN, are still trying to do journalism. I believe that journalists do have a crucial role to play in challenging our leaders no matter what their political persuasion, and in holding them accountable.
“Opinionated cable news hosts have a valid but very different role. They either cheerlead or criticise and in doing so they connect with those who agree with them. They validate the opinions of those on the left and on the right. They provoke one another, fight with one another, and yes, they entertain us. In a polarised country, that gets big ratings.
“I’m not critical of what my friends at Fox News and MSNBC do. But it is apples and oranges when compared to what we at CNN do. And we should all just acknowledge that.”
I’ve always assumed we read newspapers to confirm our prejudices rather than gather the truth. If newspapers, why not television?
Jul
5
Viral marketing: Does it work?
Mon, 07/05/2010 - 10:54
Only if it’s ‘disruptive’ AND part of an ongoing conversation about your brand
Everyone accepts and understands that a video that is truly viral is an exceptional thing that happens very rarely among the hundreds of millions of clips that are online. Virals can only become popular with support if they are ultra engaging.
This week on the Spin Bin blog we looked how Apple products are viral in themselves – they attack an accepted model of reality: the iPhone blends the mental models "mobile phone" and "computer"; the iPad blends "book reader" and "computer". For Apple, a viral marketing campaign would probably to more harm than good, so they rightly stick to traditional marketing.
Successful innovative products are always viral because they disrupt or transcend and accumulate meaning as they are being shared. Their distribution will be contagious, and by being passed on by advocates, they become a cultural meme that is more powerful than anything your marketing dollars could ever buy.
Which brings us to the value of viral marketing.
If they ever really existed, the days when brands thought they could just produce a piece of video, upload it to YouTube, and then sit back and wait for it to become a hit, are now long gone. "Until marketers understand the consumer's active agency and the social mechanisms shaping their circulation of content, they are doomed to insult and alienate the very people they are hoping to attract," comments Henry Jenkins, professor of communication, journalism and cinematic arts at USC Annenberg School for Communications & Journalism.
Online video, however, is more important than ever. As brands have become more sophisticated in their approach, they have understood that getting one million-plus views is not the most important thing. What matters is reaching key target audiences, however large or small they may be, with relevant and interesting content.
In his article “Don’t interrupt, Disrupt!”, Tim Leberecht argues that something that ‘wows’ their model of reality, that compels the viewer to email it to all their friends or post it to Facebook, is what makes viral marketing work. Witness the viral success of the picture of the plane on the Hudson River rather than in the air.

But viral marketing must form part of an ongoing conversation between the brand and the consumer, otherwise only the ‘wow’ gets communicated, not the brand – we all remember the campaign for the ‘Flash’ floor cleaner that sold innovative squeegee mops rather than ‘Flash’; the same applies to virals.
This conversation is crucial to today's advertising, as it not only leads to brand awareness, but to building long-term, mutually beneficial relationships with consumers, which should be on the top priority list of every marketer.
BTW: GoViral has introduced detailed measurement of campaigns that, for the first time, enable brands to define what a successful online video campaign is - by assigning a VAR (Viral Action Rate, the number of online social actions carried out per 1,000 views) to each viral video. They have developed a new reporting technology that uses a video player embedded into publisher sites to track user engagement with the content they are viewing.
GoViral produces a Top Ten each month. The usual B2C’s perform well – sportswear, automotive and entertainment; the jury’s still out on B2B.
Jun
29
People dealing with the media must learn the rules of engagement
Tue, 06/29/2010 - 10:15
General McChrystal: there is no such thing as ‘off the record’
Dianne Abbot: ‘no comment’ means your story’s true
First: the General – you’re never ‘off the record’
Whether McChrystal or his aides were right to say what it is alleged they did, or right to accept the ‘live-in’ interview with Rolling Stone magazine, or whether Obama was right to fire the General, is beside the point that I am going to make: the General should have known the first rule of PR engagement – never say anything to a journalist you are not prepared to see in print. You’re always 'on the record'.
General McChrystal found that engaging with the media can be more life threatening than engaging with the Taliban.
Some might say, McChrystal thought he was ‘off the record’ for some of the time. So let’s define ‘off the record’ for a journalist: ‘off the record’ briefings ironically enable someone or somebody to put ‘on the record’ (ie into the public domain or into the mindset of journalists), something they wish to be known but without attribution to any individual or entity; in other words, to all intents and purposes, they’re ‘on the record’.
General McChrystal was never ‘off the record’ with the reporter Michael Hastings, author of the Rolling Stone piece, a journalist with form: he’s a former correspondent for Newsweek and freelancer for The Washington Post.
By publishing “THE RUNAWAY GENERAL” article with sharply disparaging comments by General McChrystal and his aides about the president and other White House officials, Rolling Stone magazine plunged Obama’s administration into crisis mode, provided the hammer blow for General McChrystal, got Afhganistan onto the front pages of the US media where dying oil-covered birds were winning headlines over a thousand+ dead soldiers, but above all, did wonders for Rolling Stone magazine - now known across the globe as an outspoken magazine and not a pop group, with assertive editorial about Wall Street, BP and now McChrystal.
FYI: The 1.5-million circulation Rolling Stone magazine is primarily known for such recent cover subjects as Jay-Z, Mick Jagger, Black Eyed Peas and Eric Clapton. The average reader is 30 years old and the cover of the current issue is not devoted to "The Runaway General" story inside, but to Lady Gaga, wielding a pair of automatic weapons attached to her bra. So still room to develop as a competitor to Newsweek.
Second: Dianne Abbott – 'no (racist) comment'?
Let me define ‘No Comment’ for the lovely Dianne Abbott, one of the wanabees for the leadership of the British Labour Party.
‘No comment’ means to a journalist: this is true, but you can’t attach my name to it. I’d deny it otherwise, wouldn’t I?
Dianne Abbott proved the point last week. Under fire from Andrew Neil on the BBC’s The Week, Ms Abbott was floundering when the real killer question struck: Andrew Neil asked her whether she thought that West Indian mothers were better than mothers of other ethnicities (speed to 1.40secs in on the video where Andrew Neil tackles her on her comment that ‘West Indian mothers will go to the wall for their children’, implying, as Andrew Neil suggested, that they’re better mums.)
Tackled repeatedly for the straight ‘yes’ or ‘no’ answer, all she would say was that she had nothing to say, and had said all she was going to say on the subject. In other words, ‘no comment’. In other words, ‘yes’.
I don’t think on this performance she’ll make it to the next round in the Labour Party leadership elections.
Footnote: You never have a journalist as a friend when it comes to filing scoop copy
Rolling Stone founder, Jann Wenner, ended an interview in 2008 with Barack Obama - whose campaign he financially supported - by saying: "Good luck. We are following you daily with great hope and admiration." But that didn’t stop him plunging Obama’s administration into crisis mode.
Dianne Abbott had sat on the sofa with Andrew Neil since the show began in 2008, chatting, joshing and evaluating politicians lives and policies with him, but that didn’t stop the attack dog Neil going for the jugular in the first of his interviews with the prospective leaders of the Labour Party.
Jun
21
Haywood's biggest gaffe yet: yachting with his son
Mon, 06/21/2010 - 12:50
BP boss looks more and more like a technology guy promoted above his capability – BP should be following this guy like a GPS tracking device
Tony Haywood does look more and more like a technology guy that has been promoted beyond his capability.
We all know world class footballers don't make the best managers, and brilliant pupils don't make the best teachers. So too with CEO's – a different skillset is required.
The seven-and-a-half hour grilling of BP boss Tony Hayward last Thursday by the US Congress, gave every impression of being a showtrial for media headlines rather than achieving anything positive for the disaster in the Gulf – lots of posturing, accusations and chest beating soundbytes.
Haywood was monumentally unimpressive – just not up to the job. His stonewalling was infuriating both to the posturing US Congress and to the hungry media. The share price held up the next day, but the media were not convinced.
Then came possibly Haywood's biggest gaffe to date proving conclusively that he is not going to have a second career in PR – and possibly not as a CEO. He went yacht racing with his son.
Someone at BP should be following Haywood like a GPS tracking device. Anyone could have anticipated the photo opp of Haywood racing a yacht (a sport for the rich), cutting through clear blue water – no oil here. A 'banker' for the media, Chief of Staff Rahm Emanuel was on the money: “Well, to quote Tony Hayward, he’s got his life back, as he would say…And I think we can all conclude that Tony Hayward is not going to have a second career in PR consulting.”
(Saturday too, President Obama and Vice President Biden went golfing, according to Noel Sheppard of the Newbusters blog, and reported in The Hill, but golf's OK – we all do that, and no clean water in sight.)
Meanwhile, the media opportunity created by the concerted attack by the US Congress and The White House didn't go amiss on US oil and gas exploration company Anadarko. It has a 25 per cent stake in the Macondo oil well that is spilling into the Gulf of Mexico (BP and Mitsui own the rest).
Its Chairman and Chief Executive, Jim Hackett, issued a statement refusing to take any responsibility for its share of the clean-up costs and financial liabilities resulting from the Gulf of Mexico oil spill. According to the WSJ, BP PLC (BP) said on Sunday that it hasn't decided whether to sue Anadarko Petroleum Corp. (APC) for shirking responsibility for its share of the liabilities resulting from the Gulf of Mexico oil spill. You're never in this together when you're as big as BP.
Jun
14
BP: managing the internet better than the oil spillage?
Mon, 06/14/2010 - 12:03
Should BP stop taking it all on the chin and remind the US that we're in this together
BP is buying terms such as "oil spill", "Deepwater Horizon" and "Gulf of Mexico" from Google and Yahoo! in a bid to moderate the flow of criticism against it on social networking sites such as Twitter and Facebook. When a user types these words into search engines, the results prominently feature a "sponsoredlink" to BP's official page on its response to the spill, the Times of London reports.
Critics call BP's move unethical: "What it effectively does is that it bumps down other legitimate news and opinion pieces that are addressing the spill...and [BP is] paying big money for that," Maureen Mackey, a writer for the Fiscal Times, an online news site, told the Times. BP officials said the strategy was aimed at helping those most affected by the spill, by providing accurate information on the correct forms to fill in and key people to contact.
From BP's point of view what it is doing is perfectly legal, it is just trying to control the message agenda from its point of view in the best way it can when faced with the barrage of social media sites.
The criticism comes as President Obama, finding himself on the back foot of late because of his lack of leadership over the BP oil spillage amongst other things, stepped up his attacks on BP.
President Obama followed his “nickel and dime” soundbyte discussed last week, with a surprise announcement that he would have fired BP CEO Tony Haywood by now.
Such forceful language was broadcast a day after an ABC News-Washington Post poll found that more Americans rated the government's response as negative than they did for the response to Hurricane Katrina in 2005.
Obama hasn't even spoken to Hayward: "I have not spoken to him directly," Obama said. "Here's the reason. Because my experience is, when you talk to a guy like a BP CEO, he's going to say all the right things to me. I'm not interested in words. I'm interested in actions.”
Is this the statesman-like approach you would expect from the President of the United States trying to sort out a disaster, or one that has a pre-conceived dislike for big business?
(BTW, according to reports on Sunday 13th June, President Barack Obama will meet with top BP executives, including CEO Tony Hayward and BP Chairman Carl-Henric Svanberg, this Wednesday at the White House, according to U.S. Coast Guard Adm. Thad Allen.)
Whether BP will pay its dividend as its share price plunges, Obama would do well to remember that BP does have a business to support, shareholders and pension funds to service, and an oil-guzzling US population whose appetite for oil is seemingly insatiable.
(However, the President has said, in an interview with US website Politico, that he will make a bold push for a new energy law as the Deepwater Horizon oil spill will have the same impact on the US psyche as the 9/11 terror attacks – shaping the way “we think about the environment and energy for many years to come.”)
I watched last week's press conference with the White House press secretary and detected that the US business media felt that Obama had gone over the top with his knee-jerk soundbytes of last week and were of a mind that destroying BP was not the solution to the oil spillage.
Maybe Mr Haywood should start not taking everything on the chin, and remind President Obama at the meeting that it was the drilling rig was leased from Transocean and casing from Halliburton that blew...all licensed by the US MMS Agency. We're in this together.
