xfdfx YOUR-WORLD-WITH-NEIL-03

<Show: YOUR WORLD WITH NEIL CAVUTO>

<Date: July 26, 2010>

<Time: 16:00:00>

<Tran: 072603cb.140>

<Type: INTERVIEW>

<Head: DiMassimo Goldstein - CEO Interview>

<Sect: Business>

<Byline: Neil Cavuto>

<Guest: Mark DiMassimo>

<Spec: Business; Advertising Agencies; DiMassimo Goldstein; SIC: 7311>

<Time: 16:35:00>

NEIL CAVUTO, HOST: All right, the Brit out, the Yank in. BP hunkering down, set to toss CEO Tony Hayward overboard, replacing him with one American Bob Dudley, the guy company insists is impeccably above-board in more P.R. ways than one.With me now is Mark DiMassimo. He is the founder of the DIGO Brands.

So, let's play this out here. What do you get bringing an American in? I know he's from Mississippi, so there's that added element, but this was a guy who was not in the chain of command to eventually take over. So, we know this was for a lot of other reasons.

MARK DIMASSIMO, CEO, DIMASSIMO GOLDSTEIN: I think you're exactly right.

BP, British Petroleum, CEO, king, King George. OK?

(LAUGHTER)

DIMASSIMO: This is the problem. BP from the beginning chose a strategy, which you see in their advertising, very well-developed, which is to localize the image. We're from the Gulf. We're taking -- we take this seriously because we live here. We have to do it.

And yet their front man was belaying this image every step of the way, clearly not an American, clearly not from the Gulf, real British accent, out on his yacht, saying he wants his life back after 15 people -- 11 people have died.

CAVUTO: Right.

Well, what do you get with an American?

DIMASSIMO: Well, first of all, there's the elimination of a negative. They -- they had this guy who had become, fairly or unfairly -- and, frankly, I think -- I'm just going to say, I think, under many circumstances, this would have been the best CEO, OK?

He's a terrific guy. He's a straight shooter.

CAVUTO: He's very well regarded. You're right.

DIMASSIMO: He's not political. OK? He may be a crisis manager, but he's not a great political manager. He -- he -- he said too many of the wrong things. President Obama was out there publicly saying, I would have fired the guy for any one of the things that he said.

Do you think he would? I don't know.

(CROSSTALK)

CAVUTO: ... find it interesting the administration was apprised of this? In other words, I almost wonder, was the administration having to write off on this? In other words, if they did not, then this wouldn't have happened?

DIMASSIMO: BP wants to know that its problem with the U.S. government is on the mend. So, they asked to make sure that their assumptions were on track. And I think that says an awful lot.

CAVUTO: That's a little Tony Soprano moment right there.

DIMASSIMO: Well, it's -- it's...

CAVUTO: I mean, we have got to check with the White House if they're OK with this?

(LAUGHTER)

DIMASSIMO: Look, I think what you hear is that government regulation of business is the largest factor that investors and that large corporations are trying to figure out right now, the unprecedented regulations.

CAVUTO: But if you're a Brit and you know -- it's the old British Petroleum -- it's BP now -- but now an American has taken over this company, you have got to be chafing, to say nothing of your pension money that has been wiped out in this. It's got to be bad.

DIMASSIMO: Well, you want the company to succeed. And so...

CAVUTO: And if he's the guy who can do it?

DIMASSIMO: Well, they have got -- look, they have everything else. They have the money to deal with this. They have focused not on politics, but on being the most effective, most successful exploration and selling company in the world and they have done a great job. So they have loads of money.

The biggest issue they have to deal with on the world stage is this problem. It's a P.R. problem and it's a political problem of massive proportions in the United States. And this guy was a problem.

CAVUTO: And this new guy hopefully less of one.

(LAUGHTER)

CAVUTO: All right, Mark, thank you very much. That's good stuff, very interesting stuff.

DIMASSIMO: Thank you, Neil.

CAVUTO: All right.

END

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