[quote=Allan from Fallbrook] You don’t see true risk management and risk analysis any more. What you do see is, “how do I keep myself and my company out of court and cover my ass?” risk management. That, combined with the need to squeeze as much production out of these facilities and make them cash-flow properly, has landed us where we are today. Aided and abetted by loose and/or fairly non-existent regulations, we are now seeing accidents occurring on a much more regular basis. Whether its the Tesoro refinery in Washington State, or the Massey Energy mine in West Virginia, we’re now reaping what we’ve sowed. [/quote]
Very astute observation, Allan. I’m curious as to what they are teaching in today’s business administration curriculum. For several years, I watched the changes in the way companies handle risk management, and came to the realization that they don’t. They simply gamble, which seems to be the widely-accepted business credo. I think back to what I learned in my undergrad finance and management classes, and either age keeps me from accurately remembering curriculum content, or there’s simply no trace of the business practices taught in the 70s. I have no issue with progress – in fact , I heartily endorse it – but I cannot equate “gambling” with “management”.
And speaking of Massey, they should be a semester’s worth of study in themselves. If I wasn’t so repelled by Don Blankenship and his actions, I would probably be shaking my head in wonder and awe at what this guy has managed to pull off…with the complete cooperation of our leaders in Washington.
