Psycho Talk: Is Pawlenty abandoning his own state?
Gov. Tim Pawlenty recently signed an executive order banning Minnesota cities and businesses from applying for federal grants made available since the health care law went into effect. As a result, the state could miss out on billions of dollars in federal funds.
BP replaces CEO Hayward after record loss Posted on 7/27/2010
BP's Chief Executive Officer Tony Hayward will be replaced by American Robert Dudley on Oct. 1.
BP said the decision to replace Hayward, was a mutual agreement.
$1.6 Million Payoff BP will pay him $1.6 million, a year's salary.
BP planned to recommend Hayward for a non-executive board position at its Russian joint venture.
BP Chairman Comments BP Chairman Carl-Henric Svanberg said, "The BP board is deeply saddened to lose a CEO whose success over some three years in driving the performance of the company was so widely and deservedly admired."
Record Quarterly Loss BP reported a record quarterly loss of nearly $17 billion in the last three months.
BP said the Gulf spill had cost the company $32.2 billion.
