Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1373763 Comments:2390
Post Fri Jun 01, 2012 8:48 am by mcgowanjm Re: 2012 Bilderberger Meeting
Post Fri Jun 01, 2012 8:48 am by mcgowanjm The problem with being rich and powerful is that you become disconnected from reality.
No one is there(see Jeff Zuckerberg for details) to tell you different. Yes men is all you see.
You don't know your policies have failed until the guards are no longer at their posts. And then it's too late.
The enemy is at the gates.....The Non Linear is at hand.....
The market was anxious going in to the NFP print but once the dismal data point hit, things deteriorated rapidly.
Being “in” produces pleasurable effects in our brains, and being “out” produces real, physical pain. Further, our brains have evolved to make us want to seek status in our tribes, and to prefer immediate gratification over distant, theoretical considerations that might limit our consumption. (For an excellent, evergreen essay on this subject, see Nate Hagens’ post on The Oil Drum, “Fleeing Vesuvius.”)
The mere threat of being on the outs with one’s tribe can be enough to make us avoid thinking independently and rationally about issues like peak oil and climate change.
In 2003, Browne struck an $8 billion deal with a group of billionaires to form TNK-BP, the biggest single investment in post-Soviet Russia. Successful Move TNK-BP was Browne’s most successful move, giving BP the biggest Russian presence among the world’s largest oil companies.
Difficult Relationship While profitable, the investors in the TNK-BP venture have had a difficult relationship.
In 2008, Dudley, who was then CEO of TNK-BP, was forced to step down and left Russia after a dispute over company strategy. Last year, the billionaires took BP to arbitration after they cut TNK-BP out of a deal to explore Russia’s Arctic with state-run OAO Rosneft.
One of the Russian shareholders, Mikhail Fridman, resigned as CEO this week, casting renewed doubt on the future of the business. The board hasn’t met this year because shareholders can’t agree on a third independent director.
“It seems rather that BP’s hand has been forced,” said Colin McLean, CEO at SVM Asset Management. “I don’t think this is happening at BP’s choosing. As long as they don’t get a bad price, it draws a line under what doesn’t appear to have been handled well before.”
