Daily Archives: March 4, 2011

Sheila McNulty

Wonder what has been going on over at Dynegy since the company announced last week that its second effort to sell itself had collapsed and the US power producer’s top management was leaving?

My guess is that a lot of soul-searching has shareholders wishing they had accepted at least one of the buyout proposals they had been offered over the past few months. The company’s share price has been trending down since that second deal unravelled. And now Standard & Poor’s, the ratings agency, has cut its ratings on Dynegy. Here is what analyst Swami Venkataraman had to say:

BP will not pay bonuses for last year to any of the executive directors involved in the disastrous Gulf of Mexico spill, but the UK oil group has awarded partial pay-outs to two directors for meeting specific divisional targets.

Bob Dudley, chief executive, his predecessor Tony Hayward and Andy Inglis, the former head of exploration and production who left the company last October, have all been denied an annual bonus for 2010 and no director will receive shares under the long-term remuneration plan running from 2008 to 2010, BP disclosed in its annual report.

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