LA blocks new fast-food outlets from poor areas
July 30, 2008 by Philip Dru · Leave a Comment
LOS ANGELES (AP) - City officials are putting South Los Angeles on a diet.
The City Council voted unanimously Tuesday to place a moratorium on new fast food restaurants in an impoverished swath of the city with a proliferation of such eateries and above average rates of obesity.
The yearlong moratorium is intended to give the city time to attract restaurants that serve healthier food. The action, which the mayor must still sign into law, is believed to be the first of its kind by a major city to protect public health.
“Our communities have an extreme shortage of quality foods,” City Councilman Bernard Parks said.
(AP) Customers enter a McDonald’s restaurant in Los Angeles on Monday, July 28, 2008.The City Council is…
Full Image
Representatives of fast-food chains said they support the goal of better diets but believe they are being unfairly targeted. They say they already offer healthier food items on their menus.
“It’s not where you eat, it’s what you eat,” said Andrew Puzder, president and chief executive of CKE Restaurants, parent company of Carl’s Jr. “We were willing to work with the city on that, but they obviously weren’t interested.”
The California Restaurant Association and its members will consider a legal challenge to the ordinance, spokesman Andrew Casana said.
Thirty percent of adults in South Los Angeles area are obese, compared to 19.1 percent for the metropolitan area and 14.1 percent for the affluent Westside, according to the Los Angeles County Department of Public Health.
Research has shown that people will change eating habits when different foods are offered, but cost is a key factor in poor communities, said Kelly D. Brownell, director of Yale University’s Rudd Center for Food Policy and Obesity.
“Cheap, unhealthy food and lack of access to healthy food is a recipe for obesity,” Brownell said. “Diets improve when healthy food establishments enter these neighborhoods.”
A report by the Community Health Councils found 73 percent of South Los Angeles restaurants were fast food, compared to 42 percent in West Los Angeles.
South Los Angeles resident Curtis English acknowledged that fast food is loaded with calories and cholesterol. But since he’s unemployed and does not have a car, it serves as a cheap, convenient staple for him.
On Monday, he ate breakfast and lunch - a sausage burrito and double cheeseburger, respectively - at a McDonald’s a few blocks from home for just $2.39.
“I don’t think there’s too many fast food places,” he said. “People like it.”
Others welcomed an opportunity to get different kinds of food into their neighborhood.
“They should open more healthy places,” Dorothy Meighan said outside a Kentucky Fried Chicken outlet. “There’s too much fried stuff.”
Councilwoman Jan Perry said that view repeatedly surfaced at the five community meetings she held during the past two years. Residents are tired of fast food, and many don’t have cars to drive to places with other choices, she said.
Los Angeles’ ban comes at a time when governments of all levels are increasingly viewing menus as a matter of public health. On Friday, California became the first state in the nation to bar trans fats, which lower levels of good cholesterol and increase bad cholesterol.
The moratorium, which can be extended up to a year, only affects standalone restaurants, not eateries located in malls or strip shopping centers. It defines fast-food restaurants as those that do not offer table service and provide a limited menu of pre-prepared or quickly heated food in disposable wrapping.
The definition exempts “fast-food casual” restaurants such as El Pollo Loco, Subway and Pastagina, which do not have drive-through windows or heat lamps and prepare fresh food to order.
The ordinance also makes it harder for existing fast-food restaurants to expand or remodel.
Rebeca Torres, a South Los Angeles mother of four, said she would welcome more dining choices, even if she had to pay a little more.
“They should have better things for children,” she said. “This fast food really fattens them up.”
AP | CHRISTINA HOAG | Wednesday, July 30, 2008
Italy deploys troops to fight crime
July 30, 2008 by Philip Dru · Leave a Comment
The Italian government launched on Tuesday a scheme that will deploy 3,000 troops in major Italian cities to help patrol the streets, local media reported.
Italian Interior Minister Roberto Maroni and Defense Minister Ignazio La Russa unveiled the six-month pilot scheme, which will start on Monday.
They said the army, air force, navy and Carabinieri would work alongside police.
A total of 2,000 troops will be placed at the disposal of 16 mayors to guard black spots and immigration holding centers in cities including Rome, Milan and Naples.
Some units will watch “sensitive” sites in Rome, Milan and Naples — 51 in the capital, 20 in Milan and one in Naples.
The remaining 1,000 will patrol the streets of Bari, Catania, Milan, Naples, Padua, Palermo, Padua, Rome, Turin and Verona.
The last time Italy put soldiers on the streets was to fight a crime wave in Naples in 1997.
Troops were also deployed in Sicily after a Mafia bomb campaign in 1993-1994.
Xinhua | Tuesday, July 29, 2008
Jesse Ventura appears on Howard Stern a second time
July 30, 2008 by Philip Dru · Leave a Comment
Radio du Jour
July 30, 2008
Jesse Ventura talks to Howard Stern about his belief that the attacks of September 11, 2001 were a stage event orchestrated by the neocons.
PART ONE:
PART TWO:
Radio du Jour | Wednesday, July 30, 2008
Video | Michael Tsarion 2012 - The Future of Mankind
July 30, 2008 by Philip Dru · Leave a Comment
Behaviourism, Psycho-Analysis and Physiological Manipulation in Education: The Scientific Outlook Part 5
July 29, 2008 by Philip Dru · Leave a Comment
IntelStrike Blog Network
July 27, 2008
“Education in a scientific society may, I think, be best conceived after the analogy of the education provided by the Jesuits. The Jesuits provided one sort of education for the boys who were to become ordinary men of the world, and another for those who were to become members of the Society of Jesus. In like manner, the scientific rulers will provide one kind of education for ordinary men and women, and another for those who are to become holders of scientific power. Ordinary men and women will be expected to be docile, industrious, punctual, thoughtless, and contented. Of these qualities probably contentment will be considered the most important. In order to produce it, all the researches of psycho-analysis, behaviourism, and biochemistry will be brought into play.” - Bertrand Russell, 1931 (p243)
This article will examine the use of behaviourism, psycho-analysis and physiological manipulation as applied to education as discussed in Bertrand Russell’s 1931 book The Scientific Outlook [1].
Bertrand Arthur William Russell, 3rd Earl Russell (1872-1970) was a renowned British philosopher and mathematician who was an adamant internationalist and worked extensively on the education of young children. This included running an experimental school in the 1920’s with his second wife Dora Black. He was the founder of the Pugwash movement which used the spectre of Cold War nuclear annihilation to push for world government. Among many other prizes, Russell was awarded the Nobel Prize in Literature in 1950 and UNESCO’s (United Nations Educational, Scientific, and Cultural Organization) Kalinga prize for the popularization of science in 1957.
Part 1 of this series examined science as power-thought and the use of scientific technique to increase the power of an elite scientific minority over the unscientific masses. Part 2 examined the composition of the society of experts who would use scientific technique to dominate the masses. At the forefront of this society of experts is the expert “manipulator”, whom Lenin is the archetype. This society would also aim to conceal its power and influence behind political veils like democracy. Part 3 explored the application of scientific technique to education with an emphasis on the distinction between education for the “governing class” and “working class”. Part 4 looked at the use of education, the Press, radio and Hollywood as forms of propaganda.
Behaviourism and Psycho-Analysis
From The Scientific Outlook:
[Italicised text is original emphasis and bolded text is added by author.]
“As a technique for acquiring power, behaviourism is, I think, superior to psycho-analysis: it embodies the methods which have always been adopted by those who train animals or drill soldiers; it utilizes the force of habit, the strength of which has always been recognized; and, as we saw when we were considering Pavlov, it makes it possible both to cause and to cure neurasthenia and hysteria. The conflicts which appear in psycho-analysis as emotional re-appear in behaviourism as conflicts between habits, or between a habit and a reflex. If a child were severely beaten every time it sneezed, it is probable that a phantasy world would in time build itself up in his mind around the conception of sneezing; he would dream of Heaven as a place where the spirits of the blest sneeze unceasingly, or on the contrary he might think of Hell as a place of punishment for those who live in open sternutation. In this sort of way the problems brought to the fore by psycho-analysis can, I think, be dealt with on behaviourist lines. At the same time it should be admitted that these problems, whose importance is very great, would probably not have come to the fore but for the psycho-analytic approach. For the practical purposes of educational technique, I think it will be found that the educator should behave as a psycho-analyst when he is concerned with matters touching powerful instincts, but as a behaviourist in matters which a child views as emotionally unimportant. For example, affection for parents should be viewed in the psycho-analytic manner, but brushing teeth in the behaviourist manner.” - 182
“The most important applications of psycho-analytic theory are to education. These applications are as yet in an experimental stage, and owing to the hostility of the authorities they can only be made on a very small scale. It is, however, already evident that moral and emotional education has hitherto been conducted on wrong lines, and has produced maladjustments which have been sources of cruelty, timidity, stupidity, and other unfortunate mental characteristics. I think it possible that psycho-analytic theory may be absorbed into something more scientific, but I do not doubt that something of what psycho-analysis has to suggest in regard to education will be found permanently valid and of immense importance.” - 181
Physiological Manipulation
“So far, no experiments have been made to test the effect of X-rays on the human embryo. I imagine that such experiments would be illegal, in common with many others that might make valuable additions to our knowledge. Sooner or later, however, probably in Russia, such experiments will be made. If science continues to advance as fast as it has done recently, we may hope, before the end of the present century, to discover ways of beneficially influencing the human embryo, not only as regards those acquired characters which cannot be inherited because they do not affect the chromosomes, but also as regards the chromosomes themselves. It is likely that this result will only be achieved after a number of unsuccessful experiments leading to the birth of idiots and monstrosities. But would this be too high a price to pay for the discovery of a method by which, within one generation, the whole human race could be rendered intelligent? Perhaps by a suitable choice of chemicals to be injected into the uterus it may become possible to turn a child into a mathematician, a poet, a biologist, or even a politician, and to ensure that all his posterity shall do likewise unless prevented by counter-irritant chemicals.” - 172
“So far we have been considering those ways of influencing the mental life which proceed by mental means as in psycho-analysis, or by means of the conditioned reflex as in behaviourism. There are, however, other methods which may in time prove of immense importance. These are the methods which operate through physiological means, such as the administering of drugs. The curing of cretinism by means of iodine is so far the most remarkable of these methods. In Switzerland all salt for human consumption is obliged by law to be iodized, and this measure has been found adequate as a preventive of cretinism. The work of Cannon and others concerning the influence of the ductless glands upon the emotions has become widely known, and it is clear that by administering artificially the substances which the ductless glands provide, a profound effect can be produced upon temperament and character. The effects of alcohol, opium, and various other drugs have long been familiar, but these effects are on the balance harmful unless the drug is taken with unusual moderation. There is, however, no a priori reason why drugs should not be discovered which have a wholly beneficial effect. I have never myself observed any but good effects to flow from the drinking of tea, at any rate if it is China tea. It is possible also that psychological marvels may become possible through pre-natal treatment. One of the most eminent philosophers of our day regards his superiority to his brothers, perhaps humorously, as due to the fact that shortly before his birth his mother was in a carriage which rolled down the Simplon in an accident. I do not suggest that this method should be adopted in the hope of turning us all into philosophers, but perhaps in time we shall discover some more peaceable means of endowing the foetus with intelligence. Education used to begin at eight years old with the learning of the Latin declensions; now, under the influence of psycho-analysis, it begins at birth. It is to be expected that with the advance of experimental embryology the important part of education will be found to be pre-natal. This is already the case with fishes and newts, but in regard to them the scientist is not hampered by education authorities.
The power of psychological technique to mould the mentality of the individual is still in its infancy, and is not yet fully realized. There can, I think, be little doubt that it will increase enormously in the near future. Science has given us, in succession, power over inanimate nature, power over plants and animals, and finally power over human beings. Each power involves its own kinds of dangers, and perhaps the dangers involved in power over human beings are the greatest, but that is a matter that we will consider at a later stage.” - 183
“Whether men will be happy in the Paradise I do not know. Perhaps biochemistry will show us how to make any man happy, provided he has the necessaries of life; perhaps dangerous sports will be organized for those whom boredom would otherwise turn into anarchists; perhaps sport will take over the cruelty which will have been banished from politics; perhaps football will be replaced by play battles in the air in which death will be the penalty of defeat, they will not mind having to seek it in a trivial cause: to fall through the air before a million spectators may come to be thought a glorious death even if it may be that in some such way a safety valve can be provided for the anarchic and violent forces in human nature; or again, it may be that by wise education and suitable diet men may be cured of all their unruly impulses, and all life may become as quiet as a Sunday school.” 214
Bertrand Russell would later write in a similar book entitled The Impact of Science on Society (1952) [2] that:
“It is to be expected that advances in physiology and psychology will give governments much more control over individual mentality than they now have even in totalitarian countries. Fichte laid it down that education should aim at destroying free will, so that, after pupils have left school, they shall be incapable, throughout the rest of their lives, of thinking or acting otherwise than as their schoolmasters would have wished. But in his day this was an unattainable ideal: what he regarded as the best system in existence produced Karl Marx. In future such failures are not likely to occur where there is dictatorship. Diet, injections, and injunctions will combine, from a very early age, to produce the sort of character and the sort of beliefs that the authorities consider desirable, and any serious criticism of the powers that be will become psychologically impossible. Even if all are miserable, all will believe themselves happy, because the government will tell them that they are so.” - 61
Conclusion
Part 6 will examine the application of scientific technique to the reproduction of human beings including the separate breeding techniques to be applied to the “governing class” compared with the “working class”. Changes to Freedom and equality in the scientific society will be examined in part 7. Part 8 will examine changes to free trade and labour in the scientific society. Finally, Part 9 will describe two examples of artificially designed societies, including the creation of a new religion specifically for that new planned society.
[1] Bertrand Russell, The Scientific Outlook (1931). First Edition.
[2] Bertrand Russell, The Impact of Science on Society (1952). ISBN0-415-10906-X.
Related Articles
The Scientific Outlook Part 1: Scientific Technique and Power
The Scientific Outlook Part 2: The Rule of the Scientific Expert
The Scientific Outlook Part 3: Scientific Technique and Education
The Scientific Outlook Part 4: Propaganda: From the Class Room to Hollywood
The Scientific Outlook Part 6: Scientific Technique and Human Reproduction (August 3)
The Scientific Outlook Part 7: Freedom and Equality in a Scientific Society (August 10)
The Scientific Outlook Part 8: Free Trade and Labour in a Scientific Society (August 17)
Four Part Series on Bertrand Russell’s The Impact of Science on Society
More articles by Brent Jessop can be found at his site Knowledge Driven Revolution.com
IntelStrike Blog Network | Brent Jessop | Sunday, July 27, 2008
Bennigan’s Restaurants Shut Down Nationwide
July 29, 2008 by Philip Dru · Leave a Comment
Independent Franchise Locations Remain Open
CHICAGO (CBS) - Customers showing up for lunch at Bennigan’s restaurants in Chicago and across the country found quite a surprise Tuesday morning, when all the corporate-owned locations had signs on display reading “closed for business.”
As CBS 2’s Joanie Lum reports, Bennigan’s Grill and Tavern closed all of its corporate-owned locations nationwide after filing for bankruptcy. Independent franchises remain open for business as usual.
What do you think of the Bennigan’s shutdown? Send us your comments.
The corporate-owned locations comprise about half the entire chain. The two locations in downtown Chicago, at 225 N. Michigan Ave. and 150 S. Michigan Ave., are both among them, and the doors to both were locked Tuesday morning.
Inside, neon signs remained lit, but the “closed for business” signs shooed passersby away. Managers said the mass-shutdown went into effect at midnight Monday night, and there was no warning.
Managers of Bennigan’s location in Calumet City, and locations in Miami, Dallas and New Jersey also all confirmed to CBS 2 and our sister stations that their restaurants had shut down.
Bennigan’s spokeswoman Leah Templeton said Bennigan’s and Steak & Ale restaurants - both of which are owned by Plano, Texas-based Metromedia Restaurant Group - have filed for bankruptcy, along with the holding company S&A Restaurant Corp.
But not all stores that use the Bennigan’s and Steak & Ale names have filed for Chapert 7 bankruptcy, Templeton said in a statement. Franchise locations are not named as debtors in the bankruptcy filing and thus are not affected, she said.
The statement said a trustee would determine “future decisions regarding the affairs of the debtor companies.”
CBS 2 Legal Analyst Irv Miller explains that Chapter 7 bankruptcy means the company is being liquidated, as opposed to Chapter 11 bankruptcy, in which a company tries to reorganize and remain in business.
Miller said a Chapter 7 filing usually means a company has “major league debt,” and it is unlikely that employees would get their last paycheck. He said someone could conceivably buy the assets and reopen the full Bennigan’s chain, but that would only be after a long, drawn out court process.
The bankruptcy filing does not affect other two restaurant chains owned by Metromedia, Ponderosa and Bonanza Steakhouse, Templeton said in the statement.
One of the Bennigan’s restaurants on Michigan Avenue is located a stone’s throw from Millennium Park and the Cultural Center, the other across the street from the Art Institute. Both were popular with downtown diners, who were astounded by the development.
“I am really shocked, because there was no indication that anything was wrong,” regular customer Donna Wimes said outside the North Michigan Avenue location. “The food was good; they always seemed to generate a crowd.”
“We average going out about once a month to Bennigan’s, and then occasionally, some of my friends from work and I would come here,” said Edna Sherwood. “So they had reasonable prices and good food, so it’s definitely a surprise.”
Given the state of the economy, customer Bob Perkins said such mass-shutdowns as these are to be expected.
“The cost of food is just too high, and it’s all related, with gas prices and the economy itself,” Perkins said. “Until somebody takes a stand and does something, you’re going to keep seeing this.”
One young woman showed up at the North Michigan Avenue Bennigan’s for her very first day of work Tuesday morning, only to find the restaurant closed. She declined to be interviewed.
Alphonso Prince, manager of the Bennigan’s at 1250 Torrence Ave. in Calumet City, said he was notified of the shutdown at 12:10 a.m. from his area director, who was crying on the telephone. He said there was no forewarning about the shutdown.
“I’m angry,” Prince said. “I’m hurt; I’m devastated.”
“No blast of e-mails, nothing to say, ‘Sorry, we just can’t do it anymore,’” Prince continued, “just a phone call from my area director who doesn’t know anything, because she just found out. She’d been with the company for 21 years.”
Prince called Bennigan’s shutdown “totally unprofessional.”
He said he contacted his staff around 1 a.m., and many thought the news was a practical joke. He also had to tell a newly-hired employee she could not come to work.
Franchise Locations Remain Open
But franchise-owned restaurants said they remained open for business as usual, according to a published report in the Times Of Northwest Indiana.
Franchise owner Larry Briski told the newspaper his locations at the Railcats Stadium in Gary, Ind., and in Highland, Hobart, Elkhart, and Angola, Ind., were all open for business as usual. The newspaper reported that the franchise operators knew about the corporate-owned closures.
There is also a franchise location in Elgin, Ill., but the vast majority of Chicago area locations are corporate-owned, and thus, have closed.
The Wall Street Journal reported recently that the Metromedia Restaurant Group violated several terms of a lending agreement with GE Capital Solutions. The company prepared a bankruptcy filing, the newspaper reported.
Bennigan’s was founded in 1976. The restaurant has locations in 32 states.
The Bennigan’s Web site did not mention the closings Tuesday, and still advertised a Jameson barbecue menu and other special promotions.
CBS | Tuesday, July 29, 2008
War On Terror Imagineer Richard Perle Mulls Iraq Oil Business
July 29, 2008 by Philip Dru · Leave a Comment
Perle Linked to Kurdish Oil Plan
Influential former Pentagon official Richard Perle has been exploring going into the oil business in Iraq and Kazakhstan, according to people with knowledge of the matter and documents outlining possible deals.
Mr. Perle, one of a group of security experts who began pushing the case for toppling Iraqi dictator Saddam Hussein about a decade ago, has been discussing a possible deal with officials of northern Iraq’s Kurdistan regional government, including its Washington envoy, according to these people and the documents.
It would involve a tract called K18, near the Kurdish city of Erbil, according to documents describing the plan. A …
WSJ | Susan Schmidt and Glenn R. Simpson | Tuesday, July 29, 2008
Zhang Ziyi puzzled by China protesters: “I don’t see why people are so negative.”
July 29, 2008 by Philip Dru · Leave a Comment
Editor’s Note: ”The foundation of all mental illness is the unwillingness to experience legitimate suffering.” –Carl Jung
“Crouching Tiger, Hidden Dragon” star Zhang Ziyi has told Vogue magazine that she is puzzled by the protests against China’s human rights record before the Beijing Olympics.
Activists have criticized China’s rule in Tibet and its alleged failure to do more to help stop mass killings in the Sudanese region of Darfur. Protests marred several international legs of the Olympic torch relay.
The actress served as a torch bearer for the Chinese leg of the relay.
“I don’t see why people are so negative. The games are about friendship,” Zhang was quoted as saying in the current issue of Vogue. “I’m Chinese and I’m proud of my country.”
Zhang’s manager didn’t immediately respond to an e-mail from The Associated Press seeking comment.
Zhang’s film credits also include “Rush Hour 2,” “House of Flying Daggers” and “Memoirs of a Geisha.”
AP | Tuesday, July 29, 2008
UK Retailers suffer worst month in 25 years
July 29, 2008 by Philip Dru · Leave a Comment
Britain’s retailers have suffered their grimmest month in a quarter of a century as deep price cuts in the summer sales failed to entice wary consumers into the shops, the CBI said today.
The monthly snapshot of the high street from the employers’ organisation found that 61% of businesses said activity was lower in July than a year earlier while only 25% said it was higher.
The CBI said the resulting balance of -36 points was the weakest since it began its distributive trades survey in 1983 and that retailers expected another dismal month in August.
Andy Clarke, chairman of the CBI distributive trades panel, and retail director of Asda, said: “It is turning out to be a very grim summer for many retailers. Pressure from higher fuel and food prices is prompting many people to rein in their spending, proving that value retailing has never been more important.
“The faltering housing market has really depressed sales of home furnishings and white goods this month and the high street is still struggling, but supermarkets are faring better.
“The retail sector will have to focus more than ever on providing good value to customers if they want to keep the sun shining this summer.”
Faced with consumer belt-tightening, the shops and stores surveyed by the CBI had been expecting July to be a poor month for business, but the negative expectations balance of -32 was far worse than the -7 points anticipated. In a potential blow to the rest of the economy, retailers said that they were slashing orders with their suppliers.
The reluctance to spend displayed in today’s report confirms poor recent trading reports from individual retailers such as Marks & Spencer and John Lewis. Only supermarkets and sellers of footwear and leather goods bucked the downward trend. The CBI said sales of big-ticket items were especially weak, with every respondent selling durable household goods and furniture and carpets reporting that sales were down on a year ago. Clothing retailers also suffered.
Howard Archer, economist with Global Insight, said: “The CBI’s July distributive trades survey is a real shocker, pointing to consumer spending starting off the third quarter very much on the back foot. Indeed, evidence is mounting that consumers are now reining in their spending appreciably in the face of seriously squeezed purchasing power and other significant pressures.”
Guardian | Larry Elliott | Tuesday, July 29, 2008
BP 2Q profits soar; battle for TNK-BP persists
July 29, 2008 by Philip Dru · Leave a Comment
BP PLC reported a 28 percent rise in second-quarter profit on Tuesday, exceeding analyst expectations, as crude oil soared to record levels and natural gas also made big gains.
BP, Europe’s second biggest oil producer behind Royal Dutch Shell PLC, posted profit of $9.47 billion for the three months ending June 30, up from $7.38 billion in the same period a year ago. Revenue jumped 49 percent to $110.98 billion as the price of a barrel of oil rose by around 35 percent over the quarter.
Profit would have been even higher without changes imposed by accounting rules, prompting unions to renew calls for a windfall tax on the profits of both BP and Shell.
“These are another set of exceptionally strong numbers, echoing the first quarter performance,” said Hargreaves Lansdown stockbroker David Hunter. “Given the tailwind of historically high energy prices, this is somewhat to be expected, although such a strong successive quarterly performance could signal a marked turnaround in the group’s fortunes.”
BP Chief Executive Tony Hayward has made operational improvements his priority since he took over the top job over a year ago.
Hayward, who replaced John Browne, has focused on bringing new production and refining capacity on line to improve earnings, which have lagged behind rivals such as Exxon Mobil Corp. and Shell.
The company’s closely watched replacement cost profit jumped 5.5 percent to $6.85 billion, from $6.49 billion.
The replacement cost figure is viewed by many analysts as the best measure of an oil company’s underlying performance because it excludes changes in the value of crude inventories, measuring the amount it would cost to replace assets at current prices.
BP makes the bulk of its profits in its upstream business, which incorporates exploration for and production of oil. Pretax profits in that division rose 52 percent to $10.8 billion.
In contrast, the downstream business, which includes refining oil and selling it at BP’s 24,000 gas stations worldwide, it made a profit of just $539 million, a significant drop from the $2.7 billion it made in the same period a year earlier.
BP’s shares rose 2.7 percent to 533.75 pence ($10.62) on the London Stock Exchange, with analysts suggesting the increase was tempered by problems surrounding the company’s Russian joint venture TNK-BP.
The unit’s American CEO Robert Dudley left Russia last week after being called in for questioning by prosecutors.
His departure followed months of pressure on the TNK-BP, which is under attack from its Russian shareholders and the Russian government. The business’ profit nearly doubled to $1.35 billion pounds over the quarter.
Charles Stanley analyst Tony Shepard said BP’s operational improvements “should start to come into focus for investors and more than outweigh the disappointing events surrounding TNK-BP.”
The strong results were less popular with union leaders, after the company earlier this year announced plans to lay off 5,000 of its 97,000 employees. Unions also point out that the huge profits come as consumers face the worst economic conditions in years, including higher energy prices to light and heat their homes.
“It is high time our government moved to stop the fuel corporates picking the pockets of the poor and needy,” said Tony Woodley, a spokesman for the Unite, Britain’s biggest union. “A windfall tax now would ensure the money was there to help the old and vulnerable through these tough times.”
BP, however, argues that it makes less than 1 pence in profit on every liter of petrol it sells at its 1,300 filling stations across Britain. It adds that it paid $14.5 billion in taxes worldwide last year.
AP | JANE WARDELL | Tuesday, July 29, 2008


