Yeah, WHEN it AFFECTS their STOCK PRICE!
"Fear pushes BP shares to 14-year low; Market value has been halved since oil well disaster" by Jane Wardell and Mark Williams, Associated Press | June 10, 2010
BP stock sank to its lowest point in 14 years yesterday as investors feared the company would be overwhelmed by the costs of the oil spill in the Gulf of Mexico, perhaps forcing it to cut its robust dividend to pay for the disaster....
The company has lost half its market value in seven weeks, a stunning $95 billion....
How much you worth, 'murkn?
Scott Hanold, an analyst with RBC Capital Markets, noted the cost to insure the debt of all three companies shot up yesterday, a sign investors are increasingly worried about the companies’ ability to pay off what they owe.
Estimates for the total cost of the spill grow with every barrel that BP’s failed well belches into the Gulf and with each oil-covered pelican or turtle that washes up on a devastated beach....
Cutting the dividend would have a big impact in Britain. BP accounts for about an eighth of dividend payments from companies in that country’s blue-chip stock index, providing crucial income for retirees. In addition, about 40 percent of BP’s shareholders are based in the United States....
Yeah, don't be too hard on the environmental criminals because rich people hold stock in them.
I don't know what pension they are talking about do you, American?
BP, which earned more than $16 billion last year, has already spent more than $1 billion dealing with the disaster....
Fadel Gheit, energy analyst with Oppenheimer & Co., and other analysts say investors are overlooking the fact that BP has deep enough pockets to pay for the spill, fines, and damages. It can also borrow another $15 billion, he said....
Matt Simmons, chairman emeritus of the energy investment banking company Simmons International, said the oil spill will mean the end of BP as evidence mounts that the spill is far worse than first thought.
“There’s no way the company can survive this,’’ he said.Not as long as that oil is gushing from down below.
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Related: Worries about BP trigger another slide
I guess that is why Gulf Coast residents are having trouble getting paid:
"In La., anger mounts over BP claims process; Business owners cite long delays, small payments" by Brian Skoloff and Ray Henry, Associated Press | June 10, 2010
GRAND ISLE, La. — Gulf Coast fishermen, businesses, and property owners who have filed damage claims with
With NO END in SIGHT!!!!
The containment effort played out as BP stock plunged to its lowest level in 14 years amid fears that the company might be forced to suspend dividends and find itself overwhelmed by the cleanup costs, penalties, damage claims, and lawsuits generated by the biggest oil spill in US history.
Shrimpers, oystermen, seafood businesses, out-of-work drilling crews, and the tourism industry all are lining up to get paid back the billions of dollars washed away by the disaster, and tempers have flared as locals direct outrage at BP over what they see as a tangle of red tape....
What HAS NOT WASHED AWAY is the OIL!!!
Some locals see dark parallels to what happened after Hurricane Katrina, when they had to wait years to get reimbursed for losses....
This is WORSE!!!
The HURRICANE BLEW OVER and LIFE RESUMED!
This is KILLING EVERYTHING in it's PATH!!!
"Coast Guard pressures BP to step up containment effort; Ala. beaches take hit as waves of brown surf roll in" by Jay Reeves and Ray Henry, Associated Press | June 13, 2010
ORANGE BEACH, Ala. — Gulf states affected by the disaster also are putting the squeeze on BP, seeking to protect their interests amid talk of the possibility that BP may eventually file for bankruptcy.
The attorney general in Florida and the state treasurer in Louisiana want BP to put a total of $7.5 billion in escrow accounts to compensate the states and their residents for damages.
That's about HALF of what they made for PROFIT last year, right?
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