Post Mortem PetroPlus

Now it has been a full half year since the last time I wrote about PetroPlus. In the mean time, various pieces of the "empire" have been sold off, the Swiss refinery has been leased for 6 months, etc.

For me, the whole thing was a planned gimmick - a way that the PetroPlus management could get out of a bind (a company that did not have a chance of surviving the next 6 months, not to mention the next 6 years). They managed to duck the personnel bullet in every location, the environmentla headaches, and most if not all of the other social and legal responsibilities as well.

Even to the apparent theft in the main office in Zug - theoretically and curiously, only the board room furniture was stolen, but I strongly suspect that some incriminating documents disappeared at the same time, and that "theft" was never reported.

I don't know what has happened to all the executives involved in the debacle, but I suspect that they all came out "smelling like a rose." I seriously doubt that a single one of them was or will be called to stand for the responsibility that is supposed to go with corporate governance.

Shame on you people. You have made a mockery of the entire idea of clean business practices.