Just released on the BBC and elsewhere in the last hour: UBS shares opened sharply lower after an announcement from the Swiss bank that says unauthorised trading by a member of staff at its investment bank has resulted in a loss worth an estimated $2bn (£1.3bn). The bank said it was still investigating the matter, [...]
Posts Tagged ‘risk’
Breaking news – UBS disaster
Posted: September 15, 2011 in Business ManagementTags: bank loss, banking scandal, BBC, Claude Zehnder, illegal trading, risk, rogue trading, Swiss banking, USB, ZKB
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BP: now it’s the $10 billion F*** Up – at least
Posted: September 15, 2011 in Business ManagementTags: $10 billon f*** up, BP, British Petroleum, damaging a brand, Financial Times, Gulf disaster, Gulf oil spill, Haliburton, oil spill, oil spill damages, risk, risk management
A while ago, I posted about the “Five billion dollar f*** up” resulting from middle managers in BP not paying appropriate attention to safety and compliance matters, resulting in losses of at least five billion dollars in damages already paid out to victims of the Gulf oil spill, to try and point out how decisions [...]
The 5 Billion Dollar F*** Up
Posted: August 24, 2011 in Business Management, Political musingsTags: BP, British Petroleum, business, compensation, Gulf disaster, Gulf oil spill, management oversight, oil spill, risk, risk management
It was just your average “Nah, that’ll do, we can fix that later, stop fussing, that’ll do” moment that any middle manager could have had, really. BP Plc. so far has paid a mind-bending $5 billion to people who were affected by the 4.8 million litre oil spill in the Gulf of Mexico after the [...]
Hard Lessons
Posted: August 15, 2011 in Business ManagementTags: business ethics, doing the right thing, employee empowerment, management, management risk, responsibility, risk
What can the collapse of a stage for a rock concert in Indiana tell us about our organisational responsibilities? The answer is, quite a lot. Imagine you are the cop who happens to be on duty at a local police station when the phone rings. It’s the local weather bureau, and a severe thunderstorm warning [...]
