'/> Uncommon Hours: To whom was Tony Hayward really playing?
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Friday, June 4, 2010

To whom was Tony Hayward really playing?

BP CEO Tony Hayward kept it short at his Thursday press conference, promising to “restore the shoreline to its original state.”

“We will be here for a very long time,” he added. “We realize this is just the beginning.”

But he wasn’t in front of the cameras for a very long time. He took just a few questions, and then he was gone.

What was the point? a reasonable person might ask.

But reasonable people might think he was addressing the public at his press conference.

Nooo…not so much the public.

BP shareholders, maybe?

As David Pettit, a senior lawyer with Natural Resources Defense Council, points out in today’s New York Times, “They have tried to control the message, including controlling facts, because they have a direct financial interest in this.”

Indeed, check out this chart of BP stock on Thursday. The rally follows Hayward’s press conference.

Stock chart courtesy of BigCharts.

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