Most Companies face the common dilemma of how to best minimize their Risks, while somehow, managing to make a Profit. It’s what makes ‘Starting a Business’ a Risky proposition for most folks — there are few “sure fire” deals in the Business World.
This little “constraint” is apparently not much of a factor, in the High Tech world of deepwater drilling, however. They have simply managed to ‘paper-over’ any Real Risks they incur for decades now. Oil CEO’s are accustom to seeing it, as an Easy Money Gig.
Their little “risk management” charade has been coming out lately, in the Congressional Inquiries been held by Henry Waxman.
“Rubber Stamp” may take on a whole new meaning, given the way these Exec’s seem to like to ‘copy each others Homework’ …