Nigel Paine – It’s clearly not a good way to go

I think once upon a time, companies aspired to that General Motors, what’s good for General Motors is good for America, and the result has been a disaster, a complete disaster. They destroyed everything they touched, look what they did to Detroit, so I think people were a bit more cynical and not willing to buy that kind of line, but I think that companies can focus on the impact they have on their environment, their community, their people and do things that are useful, and work with governments. They have massive leverage, and to be out of work when it’s in their interest, but not just their interests, that where it’s mutually beneficial, even the gain is – most of the gain is somewhere else, like you could argue with Starbucks and the degrees, most of the gain will be somewhere else, it won’t be just for Starbucks and its profitability.

So I just think that the all seeing, all doing, or controlling all powerful company is not the way it’s going to end up, it’s not where it’s going to end up, and there have been some companies like BP, for example, which is a very chastened, very different company than it was, it was before the disaster, before the Gulf disaster. So I suspect that BP’s relationship, whether it’s local communities – its sense of itself has changed dramatically over the last two or three years, and I think probably for the better, for the better for the world, because it was an arrogant company. It thought it could do what it likes and would pursue speed and profitability above everything else, and the result is being – it destroyed its own value, you know, it lost a third of its value. So in their pursuit of only speed and profit, they actually ended up destroying a third of the company, you know, it’s a very interesting logic, you know, it’s clearly not a good way to go.

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