BP going bankrupt! stocks down 15%!!

[Big Fitz]

Wow oh wow! Rolling Stone turns and eviscerates the President over his incompetence as a leader or even DELEGATOR of leadership.

The Spill, The Scandal and the President

Gotta love quotes like this:

It's tempting to believe that the Gulf spill, like so many disasters inherited by Obama, was the fault of the Texas oilman who preceded him in office. But, though George W. Bush paved the way for the catastrophe, it was Obama who gave BP the green light to drill. "Bush owns eight years of the mess," says Rep. Darrell Issa, a Republican from California. "But after more than a year on the job, Salazar owns it too."

Huh... I guess it IS P-BO's disaster. No blame shifting for you, P-BO. You had ample time to stop it.

 

[peter]

nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook

Blu isn't getting the standard business procedure called "pass the costs on to the consumer". we all are going to pay with higher oil prices and probably taxes to boot.

we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?

If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...

 

[blu]

75mil is civil only to the gov. there will be numerous class action law suits and criminal charges are already being filed. I also just read a report on nola.com that the oil spill is now known to be twice as big as they first thought

 

[Colin]

What a self-destructive display of schadenfreude.

If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill. There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it. BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.

A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.

Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground

It's the shareholders who will take haircut.

well, fuck those shareholders right. I mean let's go get BP.

Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and pension funds and 40% by UK shareholders and pension funds. You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners.

Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.

 

[peter]

75mil is civil only to the gov. there will be numerous class action law suits and criminal charges are already being filed. I also just read a report on nola.com that the oil spill is now known to be twice as big as they first thought

Still bad news coming ... This disaster will be hot theme long after everything would be cleaned.

 

[California Girl]

A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.

Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground

It's the shareholders who will take haircut.

well, fuck those shareholders right. I mean let's go get BP.

Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and pension funds and 40% by UK shareholders and pension funds. You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners.

Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.

Indeed.... destroying BP might look good to the drooling hordes but, for anyone capable of critical thinking, it is not only a very bad thing - it is the worst possible outcome. BP employ 10,000 Brits and 29,000 Americans. They invest billions in renewable energy. They provide an income (via their shares) to some of the poorest in both countries. Those people rely on their pensions and the drooling hordes, with their pathetic hysterical rantings, have already cost those pensioners money that they cannot afford to lose. And they are no more guilty of any wrongdoing than the people whose jobs have been lost because of the spill.

Americans should be ashamed of themselves. But many clearly are not smart enough to be.

 

[Gatekeeper]

Could this be an authentic BP picture?

COMPANY RULES?

http://i50.tinypic.com/oqw4ep.jpg

Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.

 

[PatekPhilippe]

Blu isn't getting the standard business procedure called "pass the costs on to the consumer". we all are going to pay with higher oil prices and probably taxes to boot.

we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?

If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...

BP is providing jobs to the people doing the clean-up...there's no fricken way Obama could send down people to set up something like that...there would be too much fighting over the goddam money by bureaucrats....right now BP is a useful idiot and they have lots of cash.

 

[PatekPhilippe]

Could this be an authentic BP picture?

COMPANY RULES?

http://i50.tinypic.com/oqw4ep.jpg

Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.

Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.

 

[PatekPhilippe]

A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.

Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground

It's the shareholders who will take haircut.

well, fuck those shareholders right. I mean let's go get BP.

Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and pension funds and 40% by UK shareholders and pension funds. You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners.

Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.

LMAO...Sanjaya isn't the sharpest tool in the shed apparently.

 

[Gatekeeper]

Could this be an authentic BP picture?

COMPANY RULES?

http://i50.tinypic.com/oqw4ep.jpg

Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.

Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.

I know, I have seen people over the years do just that and pump 10 gallons on the concrete.
Total idiots.

 

[PatekPhilippe]

Could this be an authentic BP picture?

COMPANY RULES?

http://i50.tinypic.com/oqw4ep.jpg

Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.

Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.

I know, I have seen people over the years do just that and pump 10 gallons on the concrete.
Total idiots.

I've never seen it in person but I do know this. Benzene is considered HAZMAT and requires a special type of clean up...that costs money and the stations pass that on to the insurance companies of said dumb asses.

 

[NYcarbineer]

nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook

nope they have billions and that will be enough to cover damages for a long time

nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..

If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry.

...which leftwing radical said that??

 

[Immanuel]

nope they have billions and that will be enough to cover damages for a long time

nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..

If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry.

...which leftwing radical said that??

Don't know who said that, but I agree with it.

That does not change the fact that hoping that BP fails because of this disaster, is not all that smart. If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.

Responsibility for this? I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it. I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.

I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.

Regardless, we need to have BP around long enough to clean this frigging mess up. Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess. If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up. No one else is going to do it.

Immie

 

[Big Fitz]

Blu isn't getting the standard business procedure called "pass the costs on to the consumer". we all are going to pay with higher oil prices and probably taxes to boot.

we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?

If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...

Read the rolling stone article about how slow the GOVERNMENT has been to do anything. Plus nobody in the government is CAPABLE of doing anything except threaten those who can. And if Sean Hannity's reports are accurate, why have not all the booms and skimmers been deployed yet to this day??? Why did the P-BO admin refuse Dutch Shell's help and STILL isn't accepting much help.

Makes one wonder if this is being made deliberately worse, but really I just think they're that incompetent. Possibly the worst inner circle of a president since Carter, if not Hoover.

 

[NYcarbineer]

nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..

If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry.

...which leftwing radical said that??

Don't know who said that, but I agree with it.

That does not change the fact that hoping that BP fails because of this disaster, is not all that smart. If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.

Responsibility for this? I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it. I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.

I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.

Regardless, we need to have BP around long enough to clean this frigging mess up. Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess. If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up. No one else is going to do it.

Immie

Shareholders are normally last in line for assets if a company goes under.

P.S. Sarah Palin said that.

 

[Immanuel]

If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry.

...which leftwing radical said that??

Don't know who said that, but I agree with it.

That does not change the fact that hoping that BP fails because of this disaster, is not all that smart. If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.

Responsibility for this? I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it. I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.

I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.

Regardless, we need to have BP around long enough to clean this frigging mess up. Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess. If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up. No one else is going to do it.

Immie

Shareholders are normally last in line for assets if a company goes under.

P.S. Sarah Palin said that.

No kidding about the shareholders.

Problem is that if BP assets are sold for pennies on the dollar which is what will happen there would not be enough to pay for the clean-up and I don't give a damn about shareholders receiving anything if the company should go belly up. The clean-up of this disaster is first and foremost in importance.

As to Sarah Palin being your "left-winger" that said that, it doesn't matter either. In this case, she's right. BP should be held accountable, problem is we can't wait for the courts to hold them accountable. This crap needs to be cleaned up sooner rather than later.

Immie

 

[Mini 14]

The reality is that BP would walk away from the US and adopt a new strategy without American revenues before they would declare bankruptcy. The truth is that the Federal government can now only force BP to provide whatever relief BP is willing to provide on their own.

BP isn't going anywhere anytime soon. At some point they will reach their financial tipping point, and they will walk away from this disaster, leaving us to carry the load.

Which is why our government should have long ago gotten more involved in this mess, taken charge, and kicked BP to the curb.

Obama may still be looking for an ass to kick, but those of us watching the oil roll onto our shores already know where it is.

And its coming back down Monday and Tuesday for another photo-op and rhetoric tour.

 

[editec]

Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com

777 people are going to be very unhappy about that.

Why 777 people you ask?

Because those 777 people own 94.83 % of the share value of that corporation.


source

 

[CurveLight]

What a self-destructive display of schadenfreude.

If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill. There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it. BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.

Considering BP's track record on safety and envrionment it would be a great thing if they went under. You dumbfucks act like BP makes the fucking oil.