Thursday, June 03, 2010
Where Are the BP Boycotts?
After the Wall Street Journal articles exposing BP's failings and the opening of a criminal probe into the oil disaster in the Gulf of Mexico, I would expect people would be screaming for a boycott of BP. Sometimes we forget our role as consumers in driving the conduct of corporations. Much of the managment and finance talk speaks to the power of the shareholders, and this is why we've seen the sell off in BP stock. But just as the stockholders are a source of financing for BP, the customers are the source of revenue. We need to let BP know that we cannot support their lack of concern for safety and their inability to plan for disaster. The CEO can have his "life back" when he gets fired.