GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Will BP Declare Bankruptcy and/or Fold Soon?

Caligari · 06-10-2010, 11:21 AM

The writing is on the wall, BP is doomed

http://www.energyboom.com/policy/oil...culation-flies

Shares ended the day on the New York Stock Exchange at $29.20 which is down almost 50% from a share price of $59.48 on April 19th, one day before the disaster began to unfold in the Gulf of Mexico.

The sell-off began earlier today when longtime energy investment banker Mathew Simmons (and author of the must-read book, Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy) predicted in a Fortune Magazine article that,

"they [BP] have about a month before they declare Chapter 11. They're going to run out of cash from lawsuits, cleanup and other expenses."

06-10-2010, 11:21 AM
Caligari Confirmed User Industry Role: Join Date: Oct 2009 Location: At The Mountains Of Madness Posts: 5,414	The writing is on the wall, BP is doomed http://www.energyboom.com/policy/oil...culation-flies Shares ended the day on the New York Stock Exchange at $29.20 which is down almost 50% from a share price of $59.48 on April 19th, one day before the disaster began to unfold in the Gulf of Mexico. The sell-off began earlier today when longtime energy investment banker Mathew Simmons (and author of the must-read book, Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy) predicted in a Fortune Magazine article that, "they [BP] have about a month before they declare Chapter 11. They're going to run out of cash from lawsuits, cleanup and other expenses." __________________ ATTN Webmasters Cruel Bucks - LIVE Gonzo Does Not Pay ------------------------------------------------ Animal Rescue Click Here to Feed An Animal for Free