Another Disgusting Oil Spill!!

reefraff

reefraff

Active Member
They are meeting to discuss suspending the dividend. I suspect it will be cut but I would be a little surprised if they suspend it, their stock would take a serious hit. So would a whole lot of pensions.
 
meowzer

meowzer

Moderator
REALLY...How many people does BP employ all over the world? Them going out would be a very very bad thing I think........a lot of job losses....economical downfalls....I am sure there are more, but that's enough to think about for now
 
stdreb27

stdreb27

Active Member
Originally Posted by meowzer
http:///forum/post/3277784
REALLY...How many people does BP employ all over the world? Them going out would be a very very bad thing I think........a lot of job losses....economical downfalls....I am sure there are more, but that's enough to think about for now
The dividend is just a payment of profit to their shareholders (owners of the company) it doesn't mean they're going under. What really hurts speaking of jobs, is the Obama administration freezing all drilling in the gulf. That is a LOT of jobs...
 
meowzer

meowzer

Moderator
Originally Posted by stdreb27
http:///forum/post/3277797
The dividend is just a payment of profit to their shareholders (owners of the company) it doesn't mean they're going under. What really hurts speaking of jobs, is the Obama administration freezing all drilling in the gulf. That is a LOT of jobs...
I know that....There was something stated earlier about BP and someone wishing they would go bankrupt.....that's what I was referring to.....
 
mrdc

mrdc

Active Member
Guess you heard that the oil spill could be almost twice as big as originally estimated.
http://www.foxnews.com/us/2010/06/11...rk-worst-case/
I found this interesting since I haven't seen much on the size of fines.
Based on the maximum amount of oil possibly spilled to date, that would translate to a potential civil fine for simple discharge alone of $2.8 billion. If BP were found to have committed gross negligence or willful misconduct, the civil fine could be up to $4,300 per barrel, or up to $11.1 billion.
 
reefraff

reefraff

Active Member
Originally Posted by meowzer
http:///forum/post/3277784
REALLY...How many people does BP employ all over the world? Them going out would be a very very bad thing I think........a lot of job losses....economical downfalls....I am sure there are more, but that's enough to think about for now
They showed a graph showing the number of US pension plans with major holdings of BP stock. I guess we'll get to bail the unions out again if BP goes belly up.
What I heard last is there is talk of BP holding the dividends in an escrow account until they have paid the bulk of the claims which I think is bunk. Either you can afford the dividend or you can't.
 
stdreb27

stdreb27

Active Member
Originally Posted by meowzer
http:///forum/post/3277799
I know that....There was something stated earlier about BP and someone wishing they would go bankrupt.....that's what I was referring to.....
If a corp goes ch 11. Basically they still exist, they keep most of their stuff, just shed the liability to their debt holders...
Originally Posted by reefraff
http:///forum/post/3277832
What I heard last is there is talk of BP holding the dividends in an escrow account until they have paid the bulk of the claims which I think is bunk. Either you can afford the dividend or you can't.
Not when you don't know what the hell Obama is going to try and do to you... Think about it, you have the feds saying if you've lost 50k BP is gonna cut you a check for 50k.
Then you have the feds now saying that BP should pay for the lost wages on a federally imposed 6 month moratorium on drilling, for the entire gulf, that is billions of dollars...
If I was BP I'd be taking some serious thought into just leaving all together and leaving everything on the bottom of the ocean...
 
reefraff

reefraff

Active Member
Now the Democrats are talking about raising taxes on oil companies to increase the spill clean up fund. Hello? Guess how much of that fund the feds have paid out for this incident. Z E R O. Hopefully people will wake up to these underhanded tactics use to pass back door tax increases on we the people.
 
reefraff

reefraff

Active Member
Originally Posted by stdreb27
http:///forum/post/3277919
If a corp goes ch 11. Basically they still exist, they keep most of their stuff, just shed the liability to their debt holders...
Not when you don't know what the hell Obama is going to try and do to you... Think about it, you have the feds saying if you've lost 50k BP is gonna cut you a check for 50k.
Then you have the feds now saying that BP should pay for the lost wages on a federally imposed 6 month moratorium on drilling, for the entire gulf, that is billions of dollars...
If I was BP I'd be taking some serious thought into just leaving all together and leaving everything on the bottom of the ocean...
One thing thats gonna be interesting is that if BP makes the fishermen and tourist based businesses whole the financial liability should end right there. Of course we all know it wont. There will still be people claiming their businesses lost money because_______________ so it's hard to say how much BP will spend on lawyers and bogus settlements. If you live in the area a quick way to make some cash will be to file a claim for 10 or 15 grand. They will offer you 5 or maybe even 10 to go away because it will cost more than that to fight the claim in court.
 
stdreb27

stdreb27

Active Member
Originally Posted by reefraff
http:///forum/post/3277952
Now the Democrats are talking about raising taxes on oil companies to increase the spill clean up fund. Hello? Guess how much of that fund the feds have paid out for this incident. Z E R O. Hopefully people will wake up to these underhanded tactics use to pass back door tax increases on we the people.
I read an article the other days saying the dems were already double dipping into the oil cleanup fund to pay for some other social program...
 
reefraff

reefraff

Active Member
There is no such thing as a separate account. It all goes into one account which is more than 100% spent every year. People are just too dumb or lazy to figure out this is nothing but a numbers scam to allow backdoor tax increases.
 
stdreb27

stdreb27

Active Member
Originally Posted by reefraff
http:///forum/post/3277952
Now the Democrats are talking about raising taxes on oil companies to increase the spill clean up fund. Hello? Guess how much of that fund the feds have paid out for this incident. Z E R O. Hopefully people will wake up to these underhanded tactics use to pass back door tax increases on we the people.

Originally Posted by Darthtang AW
http:///forum/post/3277985
http://www.rollingstone.com/politics...RS_show_page=0
Interesting and very detailed. An article by one the most leftist pro Obama magazines there are.
Very long, but good info.
That has to be one of the most salacious magazines out there. It scares me to think that people actually belief the drivel they're peddling as legit news. If you believed what you'd read in the rolling stone, you'd be convinced hitler was a tyke compared to the crap Bush did.
 
darthtang aw

darthtang aw

Active Member
Originally Posted by stdreb27
http:///forum/post/3277987
That has to be one of the most salacious magazines out there. It scares me to think that people actually belief the drivel they're peddling as legit news. If you believed what you'd read in the rolling stone, you'd be convinced hitler was a tyke compared to the crap Bush did.
Read the article..............................
You might be surprised.
While it does bash the previous administration...It does point out where the current has screwed up as well and why this catastrophy is also their fault...all from the eyes of a lefty.
 
reefraff

reefraff

Active Member
When the stone starts writing negative stories about a left wing president it sends a bad signal to the Democrats.
 
aquaknight

aquaknight

Active Member
If anyone is up, check out the video feeds. I guess they are doing a bit of recon, 3 or so of the ROVs seem to be doing some surveying of various bits of rig parts at the bottom. Pretty interesting.
 
stdreb27

stdreb27

Active Member
Originally Posted by reefraff
http:///forum/post/3278147
When the stone starts writing negative stories about a left wing president it sends a bad signal to the Democrats.
well, in a sense that is true. I made it through 2 pages. But realistically, I can't believe a word is says... Even if they are bashing someone I like to bash...
 
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