Kaminsky's Call: Tony Hayward Needs to End Speculation
What could BP's CEO, Tony Hayward, learn from watching The Strategy Session?
Plenty. He'd learn the value of having an open dialogue with shareholders, and that's why my "Call-to-Action" is to have Mr. Hayward appear on our show.
BP investors can't take it anymore. The company is making a serious mistake by being so secretive about the true nature of it capital needs. Delaying its bond offering is only raising more questions and further alienating its investor base.
I'd ask Mr. Hayward why the company seems so reluctant to raise capital. I'd ask him to put an end to the constant speculation that surrounds management's decision to retain Goldman and Blackstone as its bankers. I'd ask him about the prospect of the company actually running out of cash. I'd ask him why management can't seem to level with the public about anything, be it the company's finances, or the true nature of the spill itself.
I promise Mr. Hayward the interview will be quick, although not necessarily painless. I promise not to interrupt.
And I promise that if he answers those questions honestly, he will have taken the first major step in repairing BP's broken relationship with the investors.
What does he have to lose?
The ball's in your court, Mr. Hayward.
Programming note: "The Strategy Session," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC.
Gary Kaminsky does not hold any equity positions.
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