Not been careful with shareholder capital… Yah think?
6 replies (most recent on top)
@w6 where about in Mayfair was the office? I wonder if they irritated the lease, or are still hanging on to it? BL's financial incontinence will take many more years to recover from. I wonder what disastrous spending he is undertaking at his new employers' expense.
@v5 bp's history of London office management can be a case for business schools. In Bernard's CEO times he took a lease on a swanky Mayfair office for 100 desks (around the time when SJS was sold and leased back) - exec team only (with EA's and PA's). Talking about Ivory towers! This must have been terminated when Bernard was ousted. What was the costs of that, someone should ask? Southwark lease can be terminated too.
@p8 well that's a nice idea,.but havent they just signed a long term lease on the new London block? Some either way round they'll end up paying unnecessarily.
If CEO is really concerned about capital destruction, she should cancel closing of Sunbury office as there is a long term lease in place with a long term obligation to pay regardless of its occupation. Its a fantastic, low cost option, there is no need to move employees to Southwark and take yet another lease. Executive team can be based in Canary Wharf and take a tube to the office from their Central London houses. This would represent taking care of shareholder capital.
I think that was an understatement.
@OP a good example of holding up the mirror !