Greg Palast Releases Breaking Story About Bain Advising BP To Cut Costs (Ironically Website Is Down)

Earlier I came across an article describing how Mitt Romney's company, Bain Capital, had been an advisor to BP shortly before the Deep Water Horizon disaster. Previous to Bain's role as consultants, BP had hired two other consulting firms: Booz Allen Hamilton, and Baker. Both suggested that BP increased spending costs on safety immediately, and get their act together before something catostrophic occured. But, in the end, the CEO sought after a consulting firm that would tell him exactly what he wanted to hear.

Bain told them to cut costs, so they fired thousands of people, and made cuts that jepordized safety. Shortly after we witnessed one of the worst oil spill disasters in history. We are still feeling the effects...

I almost fell off the barstool when I read that it was Bain Capital (Mitt Romney, former CEO), that told oil giant BP it was a good idea to cut costs. The cuts would lead to death, mayhem and the destruction of the Gulf Coast (not to mention BP’s poisoning of Alaska, Africa, Central Asia and Colombia).

In 2007, after BP’s criminal negligence and penny-pinching led to the explosion at the BP oil refinery on the Gulf Coast, in Texas City, Texas, the company brought in industry pooh-bah James Baker, their lawyer and former Secretary of State, to write a report. Baker is Big Oil’s BFF, but in this case, he was horrified, and told BP to get its act together and spend some real money on operating safety.

BP didn’t like Baker’s recommendation nor did it like another report by its own consulting firm, Booz Allen Hamilton which advised the company to …get its act together and spend money on safety.

When two respected industry voices agree that you’d better start spending and thinking while you’re operating in a deadly business, a corporation’s CEO has only one choice: find a consulting house of ill repute to contradict the others and tell you what you want to hear.

That’s what BP’s CEO Tony Hayward did. In 2008, he hired Bain Capital to say the company would be better managed if it spent less money. Bain used consulting BS terms like reducing “complexity,” but it all meant the same thing: cut, cut, cut…

(Source)

(Partial Mirror)


Mysteriously, when trying to access the website: www.gregpalast.com..., I'm getting 404'd. Earlier it was accessible, but shortly after the website was sporadically availible (dos attack?), and now it's down.

Could the on going Romney campaign have anything to do with this?

Funny, I'm getting a 500, Internal Server Error message.

Besides, Romney didn't work there then, so who cares?

I'm not clear by your posted article. Was Mitt Romney at the helm at the time this advice was given? Is he in any way responsible for this?

Originally posted by MsAphrodite
I'm not clear by your posted article. Was Mitt Romney at the helm at the time this advice was given? Is he in any way responsible for this?

Does it matter if he was at the Helm?


I can't verify it either way seeing as the website is mysteriously down.

reply to post by v1rtu0s0


I guess it doesn't matter if you like 6 ways to Kevin Bacon conspiracies. Reaching much with this???

Originally posted by MsAphrodite
reply to post by v1rtu0s0

 

I guess it doesn't matter if you like 6 ways to Kevin Bacon conspiracies. Reaching much with this???

There's no reason for the website to be having strange issues.

I'm guessing you've never heard of Greg Palast....

reply to post by v1rtu0s0


No I do not know who he is.

I just fail to get the Romney connection. It is an interesting story in itself, but if Romney was not at the helm he cannot be blamed for what happened.

Looks like the server over at Palast's website is getting mobbed.

"Error establishing a database connection"

Strange how you got to it and create the topic ?

Strange how it went down after you posted the topic ?

Yes very strange indeed.

here is a site that has the story.

disinfo.com

Hmmm.

Yes, very strange indeed.

reply to post by xuenchen


Well, I came across it earlier, and didn't get around to posting until now.


When I went back to the site it was not accessible, and earlier it was begining to have issues as well.

It looks like Romney left Bain permanently in 2001.

Romney took two leaves of absence from Bain Capital during the first half of the decade. From January 1991 to December 1992,[47][25] Romney served as the CEO of Bain & Company where he led the successful turnaround of the consulting firm. In November 1993, he took a leave of absence for his unsuccessful 1994 run for the U.S. Senate seat from Massachusetts; he returned the day after the election in November 1994.[48][25][49] Romney took a final leave of absence from Bain Capital in February 1999 when he became the head of the Salt Lake Organizing Committee for the 2002 Winter Olympics.[50] Although he had left open the possibility of returning to Bain after the Olympics, Romney made his crossover to politics permanent with an announcement in August 2001.[50] Romney negotiated a retirement agreement with Bain Capital that allowed him to receive a passive profit share and interest in Bain Capital investment funds in exchange for his ownership in the management company.[51][52]

Bain Capital

reply to post by xuenchen


Either way, he maintains close ties. The bigger story is what Bain is doing, and not nessasarily about Romney, unless it's referring to the company he keeps.

reply to post by xuenchen

It looks like Romney left Bain permanently in 2001.

Oh they still have close ties, they've pumped millions into his campaign coffers.

Trying to connect the story to Romney is a bit of a stretch that takes away from the real meat of the issue. Romney was not in charge of Bain in 08. But this is indeed a very good story worth following and will likley be brought up in connection to Romney/Bain talk in the coming months.

Anyone remember the name of the BP exe. who flew too the platform,,
just before it blew?

reply to post by v1rtu0s0

Either way, he maintains close ties. The bigger story is what Bain is doing, and not nessasarily about Romney, unless it's referring to the company he keeps.

Originally posted by Blackmarketeer
reply to post by xuenchen

 

It looks like Romney left Bain permanently in 2001.

Oh they still have close ties, they've pumped millions into his campaign coffers.

no argument from me.

in fact, Romney may very well still have some active benefit packages and/or investment interests.

dig for that and you may have more ammo.

Wouldn't that be wonderful. Maybe we can still have President Paul afterall!

Originally posted by v1rtu0s0
reply to post by xuenchen

 

Either way, he maintains close ties. The bigger story is what Bain is doing, and not nessasarily about Romney, unless it's referring to the company he keeps.

If he maintained close ties how come Bain capitol donated more money to Obama's campaign. Jonathan Lavine is a top Obama bundler and a managing director at Bain Capital. so apparently your wrong.

see thats what the Elite don't get,,it's not about Bain Capital,,or Obama's campaing donations,,,

its about the Engineers on the platform who told ececutives that if u do what u want us too to do,,it will explode,,period.

and they were told,, push the button,, so they did,,and friends died,, who did not need too,, its called,, listen too the people who know,,please,,
but were overriden.
How many engineer's died,,and who got away in the Helecopter.?

Dear Lord!
What has the world come to when James Baker and Booz Allen Hamilton look like the good guys?
You may remember it was Baker that got the 2000 election before the Supreme Court so they could appoint/annoint Baby Bush.
This article shows how Bain operates and the general mindset of those in charge.
Words can't convey the disgust and loathing I feel for Tony Hayward.
BP shouldn't be allowed to operate anywhere on US soil or territorial waters.

Greg Palast is one of the great investigative journalists and frankly I'm surprised he doesn't get more attention around here.