Price fixing, environmental violations, exploding factories... Not a good couple of years for oil giant, BP. The nearly $400 million fine and related guilty plea on some environmental charges, will allow BP put to rest both a Federal price fixing probe as well as investigations of an Alaskan oil spill and Texas refinery explosion that left 14 dead. In addition to the fine, as a condition of their settlement, BP will also remain on probation for three years.

Got off easy if you ask me...

-- MDT

Labels: BP, Clean Air Act, oil, price fixing

The Daily Caveat is a simple man and not one routinely given over to reading CondeNast. But darn it if their Portfolio online imprint (currently in oh-so Web2.0 BETA) hasn't been worming its way to my attention over the last week or so. A few examples:

Lets start with the quick piece on the HP spying lawsuits, a topic discussed in this space only yesterday. As an amusing corollary, there's also this somewhat tongue in cheek guide to surviving corporate spying.

And there is this very interesting story on a couple of hedge fund managers who are currently suing their former law firm, Akin Gump, for what they've come to see as seriously bad advice on what does and does not constitute illegal trading.

For something a little more lo-fi, check out this piece on a Tennessee investiation into graveyard swindlers, Quest Minerals & Exploration who perpetrated "history’s first large-scale white-collar grave robbery." Yea, you'll want to give it a read.

Personally, I'll read anything called Blackmail, Sex & Corporate Secrets which takes as its subject, Lord John Browne, Baron of Madingley and the former CEO of British Petroleum. So there you go...four arguments for a subscription.

-- MDT

Labels: Akin Gump, BP, CondeNast Portfolio, hedge fund, HP, John Browne, Quest Minerals