Watching TV last night (April 7) found out that Anadarko Petroleum Corporation was fined $5.15 b
(that is 5 thousand-one-hundred and fifty million dollars!) for a settlement on agreement with the feds in relation to misbehavior of one of their companies Tronox that did a lot of environmental pollution and personal damage. Tronox (http://en.wikipedia.org/wiki/Tronox) is a global chemical company that used to process plutonium for nuclear reactors. The plant that is now closed in Oklahoma had allowed radioactive products to get into the environment and some workers to be contaminated. As the announcement about the settlement of $5.15 b came out the stock on Anadarko went up 14.5%! (http://www.forbes.com/sites/christopherhelman/2014/04/03/anadarko-erases-silkwood-uncertainty-with-5-billion-tronox-settlement/ )
Good news for Anadarko indeed, as it was estimated that the settlement was supposed to be in the $14 b range http://www.fool.com/investing/general/2014/04/08/is-there-too-much-optimism-about-anadarko-petroleu.aspx.
This is a great lesson for the general public, pollution and misbehavior pays, and pays good if it is a lot of damage, the more damage the better!
How do you think we will end up after a few years of increasing power of transnational corporations?
No comments:
Post a Comment