Monday, May 23, 2011

Chevron Accuses Everyone But Is Blind to Its Own Wrongdoings

Chevron has been acting as if it is above the law from the very beginning of the pollution lawsuit in Ecuador. The oil giant has tried every possible move to avoid paying for the cleanup of its own toxic mess in the Ecuadorian rain forest. Some of Chevron's doings have been unjust and very often illegal. A perfect example would be Diego Borja admitting Chevron tried to manipulate the evidence.

Chevron seems to think blatant lies and manipulation are acceptable as long as it works in Chevron's favor, but the oil giant is very quick to accuse others of wrongdoing even when there's no reason to. Chevron accused Ecuadorian plaintiffs of illegally communicating with court appointed experts. But, there are two facts that Chevron chose to completely ignore. One- such meetings are completely acceptable. Two- Chevron's officials have met with with technical experts as well and Chevron did not find it inappropriate then. What makes Chevron look even more foolish is that after requesting the court to appoint an expert to conduct tests at some of the oil sites in Ecuador, Chevron refused to pay the expert after he found contamination at those sites.

Thursday, May 19, 2011

Chevron's Shareholders Getting Worried

A few days before Chevron's annual shareholder meeting, a new report has been released on Chevron's liability risks. The authors, Simon Billenness and Sanford Lewis- corporate governance experts, point out that the 18 billion dollar liability for the contamination of the Ecuadorian rainforest exposed company's lack of proper risk management and put Chevron at risk of irreparable harm to its value and reputation.Chevron's board of directors has been avoiding shareholders' questions about the financial risks related to the pollution lawsuit in Ecuador and has given misleading statements to the investors. This is very typical of Chevron- refusing to answer to anyone's questions and going by its own rules.

Read more about the report here.

Wednesday, May 18, 2011

Criminals On Chevron's Payroll

Have you ever wondered what Chevron is spending its money on, other than huge bonuses and salaries for its top executives? Well, today's post on Chevron Pit answers this question. Apparently some of Chevron's profits goes to the self-proclaimed “dirty tricks” operative Diego Borja and his partner, a drug felon named Wayne Hansen. They don't even need to do any actual work for Chevron, just a few illegal operations like trying to set up the Ecuadorian judge who was presiding over the pollution lawsuit. If you want to find out what being Chevron's dirty operative will get you, go here.