BHP OPTS FOR BALL RETENTION:
In the 1990s, diversified mining company BHP was doing so badly that its BHP acronym was downgraded to Broken Hearted People. The company was so diverse at that stage that it was even trying its hand in gold in West Africa and platinum on Zimbabwe’s Great Dyke. But its switch to a narrower oil and bulks focus coincided with Americans Paul Anderson and Chip Goodyear and then South Africans Brian Gilbertson and Marius Kloppers leading the show. This changed when Andrew Mackenzie, a BHP insider under Kloppers, received an internal pass and now ditto in the case of Mike Henry, also a BHP insider. Caution in uncertain times? Perhaps, but hopefully no future return to the Broken Hearted People acronym.
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