Will BP Declare Bankruptcy and/or Fold Soon?

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  • BFT3K
    Too lazy to set a custom title
    • Dec 2005
    • 10764
    #1

    Will BP Declare Bankruptcy and/or Fold Soon?

    The basic fines this spill will cost them will likely come to WELL OVER $10 BILLION DOLLARS, and that does not even include cleanup costs, health-related lawsuits, loss of income lawsuits, and on and on!

    You think they will pay up, or just fold?
    Tags: None
    • Coup
      🚨 PBBC International 🚨
      • Apr 2010
      • 9931
      #2
      if you think BP will actually pay a dime of any judgement awarded against them any time soon, you're dreaming.

      exxon hasn't paid anything towards the judgements from the exxon valdez yet.

        Comment

        • Amputate Your Head
          There can be only one
          • Aug 2001
          • 39075
          #3
          Let's hope they don't fold up. At least not until after they fork for their fuckup.
          SIG TOO BIG

            Comment

            • fatfoo
              ICQ:649699063
              • Mar 2003
              • 27763
              #4
              A lot of big companies out there are operating on a loss instead of a profit. It does not stop the companies from operating. The BP oil company will not shut down oil operations that are continuing (the ones with no spill).
              Send me an email: [email protected]

                Comment

                • DateDoc
                  Outside looking in.
                  • Feb 2005
                  • 14243
                  #5
                  I remember reading somewhere that BP, by law, is only accountable for up to $750 million unless it could be proven that the spill was due to negligence.

                    Comment

                    • $5 submissions
                      I help you SUCCEED
                      • Nov 2003
                      • 32195
                      #6
                      Get ready to buy more BP stock, boys! The book value of this bad boy is FUCKING SICK

                        Comment

                        • Amputate Your Head
                          There can be only one
                          • Aug 2001
                          • 39075
                          #7
                          Originally posted by DateDoc
                          I remember reading somewhere that BP, by law, is only accountable for up to $750 million unless it could be proven that the spill was due to negligence.
                          $75 million.
                          SIG TOO BIG

                            Comment

                            • DateDoc
                              Outside looking in.
                              • Feb 2005
                              • 14243
                              #8
                              Originally posted by Amputate Your Head
                              $75 million.
                              You are correct. They make that in about a week right?

                                Comment

                                • BIGTYMER
                                  Junior Achiever
                                  • Nov 2004
                                  • 17066
                                  #9
                                  They are not going to close.

                                    Comment

                                    • kane
                                      Too lazy to set a custom title
                                      • Aug 2001
                                      • 20684
                                      #10
                                      I doubt they are going anywhere anytime soon. At the worst if they end up actually paying for everything and paying all those who were damaged by their actions (which is doubtful) they might file for Chapter 11 and restructure. However, they made like 20 billion in profit last year so in the end all of this could end up just costing them 1-2 years of profit.

                                        Comment

                                        • over38
                                          Confirmed User
                                          • Aug 2002
                                          • 460
                                          #11
                                          4 th largest corp in the world:

                                          http://money.cnn.com/magazines/fortu...009/full_list/

                                          Market Cap: 114.33B

                                          so not likely
                                          Mainstream Blazing Fast SSD WordPress Hosting
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                                            Comment

                                            • epitome
                                              So Fucking Lame
                                              • Jun 2009
                                              • 12156
                                              #12
                                              I think DOJ opened up the criminal investigation this week in order to try to pin this on them.

                                                Comment

                                                • TrainWreckContent
                                                  Confirmed User
                                                  • Dec 2008
                                                  • 8152
                                                  #13
                                                  yeah by the time its all said and done the cost are going to be unreal if they dont have to pay it back then it will be a real shame....but if they go under who wil be the next big company to take their place? Texaco ??

                                                  Telegram @DanTrainwreck / Whatsapp TrainWreck / Email [email protected]

                                                    Comment

                                                    • xxweekxx
                                                      Confirmed User
                                                      • Oct 2002
                                                      • 6780
                                                      #14
                                                      $75 mil in a weeek? try more like a day... they made a few billion in a quarter.. BP is too rich. the DOJ investigation is just for show.. worst case they'l fine them like $50 million or some shit which BP spends more than on toilet paper a day...

                                                      BP aint going nowhere. too big to fail
                                                      _________________
                                                      I am the best

                                                        Comment

                                                        • Rochard
                                                          Jägermeister Test Pilot
                                                          • Dec 2001
                                                          • 75733
                                                          #15
                                                          They made four billion dollars last quarter alone. I'm guessing they can stay afloat for a little while.

                                                          But I also think this is just the very beginning of this problem.
                                                          Herschel Savage
                                                          Brooklyn, NY

                                                            Comment

                                                            • mynameisjim
                                                              Confirmed User
                                                              • Aug 2007
                                                              • 2985
                                                              #16
                                                              I don't know. America is pretty pissed about the wall street thing and now this. I think politicians can get a lot of mileage from both sides if they go after BP hard. Not saying it will happen, but the environment is there.

                                                              BTW, BP makes 66 million a day. I happen to come across that because I kept hearing them talk about how hard it is to work underwater. So I looked at the cost to build the Mars rover which I assume is pretty difficult as well. The Mars Rover was a robotic vehicle that was sent to the surface of Mars. It cost 804 million to design, build, launch, and operate.

                                                              So in 12 days BP makes enough money to fund a rocketship to Mars..lol. But yet they can't seem to spend any money on a fail-safe device that doesn't fail.. But maybe space travel to Mars is much easier than drilling for oil.
                                                              jim (at) amateursconvert . com Amateurs Convert

                                                                Comment

                                                                • Spunky
                                                                  I need a beer
                                                                  • Jun 2002
                                                                  • 133987
                                                                  #17
                                                                  They will chalk it up as the cost of doing business and carry on

                                                                    Comment

                                                                    • theking
                                                                      Nice Kitty
                                                                      • Sep 2002
                                                                      • 21053
                                                                      #18
                                                                      Originally posted by Coup
                                                                      if you think BP will actually pay a dime of any judgement awarded against them any time soon, you're dreaming.

                                                                      exxon hasn't paid anything towards the judgements from the exxon valdez yet.
                                                                      Yes they have...paid in full...as per the last judgement...but they fought in the courts for years and paid a substantially reduced amount from what the original judgement was.
                                                                      When you're running down my country hoss...you're walking on the fighting side of me!

                                                                      FOR THE LYING LOWLIFE POSTING AS PATHFINDER...http://gfy.com/fucking-around-and-pr...athfinder.html

                                                                        Comment

                                                                        • PornMD
                                                                          Mainstream Businessman
                                                                          • Jan 2007
                                                                          • 9291
                                                                          #19
                                                                          Originally posted by theking
                                                                          Yes they have...paid in full...as per the last judgement...but they fought in the courts for years and paid a substantially reduced amount from what the original judgement was.
                                                                          But wasn't that judgment pretty recently, like a year or two ago? 20 years after the spill actually happened?

                                                                          FWIW BP has already gone on record to say that they will in fact pay out more than $75 million, probably because they understand how ridiculous only $75 million would be and surely they want to avoid some politicians doing some positioning and going after them hard. I wouldn't be surprised if Obama decides to do that given his approval rating going down down down.
                                                                          Want to crush it in mainstream with Facebook ads? Hit me up.

                                                                            Comment

                                                                            • Zorgman
                                                                              Confirmed User
                                                                              • Aug 2002
                                                                              • 6103
                                                                              #20
                                                                              I read somewhere BP made 6 billion profit for a 1/4 period. 10 billion in fines is nothing for them.
                                                                              ---

                                                                                Comment

                                                                                • theking
                                                                                  Nice Kitty
                                                                                  • Sep 2002
                                                                                  • 21053
                                                                                  #21
                                                                                  Originally posted by PornMD
                                                                                  But wasn't that judgment pretty recently, like a year or two ago? 20 years after the spill actually happened?
                                                                                  There were two judgements brought againts them...a compensatory judgement..which was ridiculouly low and which they paid with little argument but a second judgement was for punititve damages that was very high and they lost...but they appealed the amount of the judgement and won the appeal for a greatly reduced amount...and yes I beleive it was actually within the past 12 months or so. All if the people involved in the class action suit have now been paid all they will ever receive. I think the highest amount paid to an individual was around $500,000.00 but he said he did not actually see a penny of that amount go into his pocket as it all went to pay creditors from the loss of his business and debts accrued over the years because of the loss of his business...due to the spill. He is old now and lives of his SS.
                                                                                  Last edited by theking; 06-01-2010, 09:02 PM.
                                                                                  When you're running down my country hoss...you're walking on the fighting side of me!

                                                                                  FOR THE LYING LOWLIFE POSTING AS PATHFINDER...http://gfy.com/fucking-around-and-pr...athfinder.html

                                                                                    Comment

                                                                                    • theking
                                                                                      Nice Kitty
                                                                                      • Sep 2002
                                                                                      • 21053
                                                                                      #22
                                                                                      In all probability BP will have to pay out billions...but most of the individuals that suffer losses because of the blowout...will probably not be made whole again. Some will fare better than others when they receive money from BP...just as in the Exxon payout.
                                                                                      Last edited by theking; 06-01-2010, 09:07 PM.
                                                                                      When you're running down my country hoss...you're walking on the fighting side of me!

                                                                                      FOR THE LYING LOWLIFE POSTING AS PATHFINDER...http://gfy.com/fucking-around-and-pr...athfinder.html

                                                                                        Comment

                                                                                        • fl_prn_str
                                                                                          Confirmed User
                                                                                          • Aug 2004
                                                                                          • 5736
                                                                                          #23
                                                                                          They will be sold to another Oil company with a clause in the fine print indemnifying of any assistance in said event.

                                                                                            Comment

                                                                                            • SomeCreep
                                                                                              :glugglug
                                                                                              • Mar 2003
                                                                                              • 26118
                                                                                              #24
                                                                                              If they're unable to stop the oil leak, they will go bankrupt. However, at this point, it is more likely that they will succeed in stopping the leak eventually and over time will recover from both the financial and political damage which has been done to their company.

                                                                                              Webair Hosting

                                                                                              I use and recommend Webair for hosting.

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                                                                                                • $5 submissions
                                                                                                  I help you SUCCEED
                                                                                                  • Nov 2003
                                                                                                  • 32195
                                                                                                  #25
                                                                                                  Interesting how oil extraction technology has greatly outevolved oil slick/oil cleanup technology/management procedures.

                                                                                                    Comment

                                                                                                    • borked
                                                                                                      Totally Borked
                                                                                                      • Feb 2005
                                                                                                      • 6284
                                                                                                      #26
                                                                                                      They were saying to raise the 75 million $ limit to $10billion, but as BP only had a 64% stake in the well, they'd be limited to ~$6.5 billion in damages. For a company that's worth hundreds of billions, it's a drop in the oily [ocean]

                                                                                                      just to put things in perspective...


                                                                                                      For coding work - hit me up on andy // borkedcoder // com
                                                                                                      (consider figuring out the email as test #1)


                                                                                                      All models are wrong, but some are useful. George E.P. Box. p202

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                                                                                                        • SleazyDream
                                                                                                          I'm here for SPORT
                                                                                                          • Jul 2001
                                                                                                          • 41470
                                                                                                          #27
                                                                                                          when you said BP i thought you meant boneprone LOL
                                                                                                          This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

                                                                                                          Now read without the word dog.

                                                                                                            Comment

                                                                                                            • Theo
                                                                                                              HAL 9000
                                                                                                              • May 2001
                                                                                                              • 34515
                                                                                                              #28
                                                                                                              Bp4l

                                                                                                              __________

                                                                                                                Comment

                                                                                                                • roly
                                                                                                                  Confirmed User
                                                                                                                  • Aug 2002
                                                                                                                  • 1844
                                                                                                                  #29
                                                                                                                  Originally posted by DateDoc
                                                                                                                  You are correct. They make that in about a week right?
                                                                                                                  more like in a day. their annual profits for 2008 was $25.8billion.

                                                                                                                    Comment

                                                                                                                    • roly
                                                                                                                      Confirmed User
                                                                                                                      • Aug 2002
                                                                                                                      • 1844
                                                                                                                      #30
                                                                                                                      Originally posted by mynameisjim
                                                                                                                      I don't know. America is pretty pissed about the wall street thing and now this. I think politicians can get a lot of mileage from both sides if they go after BP hard. Not saying it will happen, but the environment is there.

                                                                                                                      BTW, BP makes 66 million a day. I happen to come across that because I kept hearing them talk about how hard it is to work underwater. So I looked at the cost to build the Mars rover which I assume is pretty difficult as well. The Mars Rover was a robotic vehicle that was sent to the surface of Mars. It cost 804 million to design, build, launch, and operate.

                                                                                                                      So in 12 days BP makes enough money to fund a rocketship to Mars..lol. But yet they can't seem to spend any money on a fail-safe device that doesn't fail.. But maybe space travel to Mars is much easier than drilling for oil.
                                                                                                                      the deep sea has been less explored than the moon. so there both very challenging environments.

                                                                                                                        Comment

                                                                                                                        • roly
                                                                                                                          Confirmed User
                                                                                                                          • Aug 2002
                                                                                                                          • 1844
                                                                                                                          #31
                                                                                                                          Originally posted by PornMD
                                                                                                                          But wasn't that judgment pretty recently, like a year or two ago? 20 years after the spill actually happened?

                                                                                                                          FWIW BP has already gone on record to say that they will in fact pay out more than $75 million, probably because they understand how ridiculous only $75 million would be and surely they want to avoid some politicians doing some positioning and going after them hard. I wouldn't be surprised if Obama decides to do that given his approval rating going down down down.
                                                                                                                          they've allready paid out 10x the $75million already and that's just a drop in the ocean. (excuse the pun)

                                                                                                                            Comment

                                                                                                                            • Adraco
                                                                                                                              Confirmed User
                                                                                                                              • May 2009
                                                                                                                              • 3745
                                                                                                                              #32
                                                                                                                              Originally posted by BFT3K
                                                                                                                              The basic fines this spill will cost them will likely come to WELL OVER $10 BILLION DOLLARS, and that does not even include cleanup costs, health-related lawsuits, loss of income lawsuits, and on and on!

                                                                                                                              You think they will pay up, or just fold?
                                                                                                                              Originally posted by Amputate Your Head
                                                                                                                              Let's hope they don't fold up. At least not until after they fork for their fuckup.
                                                                                                                              They will stop the leak, clean it up and continue business as usual. True, it's going to cost them a lot, but they have an amazing balance sheet and proven earnings behind them to cover this is full. It will be a major dent in the company history, but they will survive.

                                                                                                                              Originally posted by Coup
                                                                                                                              if you think BP will actually pay a dime of any judgement awarded against them any time soon, you're dreaming.

                                                                                                                              exxon hasn't paid anything towards the judgements from the exxon valdez yet.
                                                                                                                              Stop the communist bullshit propaganda and ty to check some facts next time. But I know, communists usually don't like the fact but prefer to live in their dreamworld since the real world don't function they way they want it to. See below, thanks to theking for his addition:
                                                                                                                              Originally posted by theking
                                                                                                                              Yes they have...paid in full...as per the last judgement...but they fought in the courts for years and paid a substantially reduced amount from what the original judgement was.
                                                                                                                              Originally posted by Rochard
                                                                                                                              They made four billion dollars last quarter alone. I'm guessing they can stay afloat for a little while.

                                                                                                                              But I also think this is just the very beginning of this problem.
                                                                                                                              Please check things before you post, don't spread around numbers when you obviously have no clue. BP made around 6 billion US Dollars in profit during the first quarter of this year, as noted by Zorgman

                                                                                                                              Originally posted by Zorgman
                                                                                                                              I read somewhere BP made 6 billion profit for a 1/4 period. 10 billion in fines is nothing for them.
                                                                                                                              BP will fix this, cover the costs and then continue doing business, because their business is a very stable one and also very profitable. It might take them 2-3 years to recover their costs and then they're back to being profitable again. In the offshore industry, this is of course huge sums of money, but after all, it's all a cost of doing business.
                                                                                                                              ----------------------------------------------------------------------------------
                                                                                                                              The truth is not affected by the beliefs, or doubts, of the majority.

                                                                                                                                Comment

                                                                                                                                • Coup
                                                                                                                                  🚨 PBBC International 🚨
                                                                                                                                  • Apr 2010
                                                                                                                                  • 9931
                                                                                                                                  #33
                                                                                                                                  Originally posted by Adraco

                                                                                                                                  Stop the communist bullshit propaganda and ty to check some facts next time. But I know, communists usually don't like the fact but prefer to live in their dreamworld since the real world don't function they way they want it to. See below, thanks to theking for his addition:
                                                                                                                                  .
                                                                                                                                  Oh, well, they are stand up top notch bros for finally standing up 20 years after the fact.


                                                                                                                                  those are 20 years all those that suffered wont be getting back. Good luck gulf residents. this is mostly likely what you're in for.

                                                                                                                                  http://vimeo.com/3213063
                                                                                                                                  Last edited by Coup; 06-02-2010, 02:30 AM.

                                                                                                                                    Comment

                                                                                                                                    • Adraco
                                                                                                                                      Confirmed User
                                                                                                                                      • May 2009
                                                                                                                                      • 3745
                                                                                                                                      #34
                                                                                                                                      Originally posted by Coup
                                                                                                                                      Oh, well, they are stand up top notch bros for finally standing up 20 years after the fact.


                                                                                                                                      those are 20 years all those that suffered wont be getting back. Good luck gulf residents. this is mostly likely what you're in for.

                                                                                                                                      http://vimeo.com/3213063

                                                                                                                                      Look who's talking!

                                                                                                                                      Someone who celbrates Lenin in his signature, one of history's largest mass murderers, must be a really trustworthy guy!

                                                                                                                                      There's always a risk in doing business. Not saying that the victims of Exxon Valdez shouldn't have been paid earlier, but everyone knows that it's not risk free to live by the ocean, it's always a risk in doing business. That's why you are rewarded when successful with far more money than you put in, because you took that risk. Risk and reward. And sometimes the risk option comes into play, that's the backside of it. For those moments, you should have saved some profits and made sure to have proper insurance.

                                                                                                                                      But I know, you cummunists are not much for risk/reward because usually the dumb losers end up with all the risk and very little reward. I'm a winner, both educational and economical as well as social, of course I wouldn't trade the current system for one where I would have to share or loose out just to help "level the play field". The ones of opposite minds, usually belong on the wrong side of the winners/loosers line.

                                                                                                                                      Hope you enjoy your day, I will entertain myself with some golf! a sport for us who can.
                                                                                                                                      ----------------------------------------------------------------------------------
                                                                                                                                      The truth is not affected by the beliefs, or doubts, of the majority.

                                                                                                                                        Comment

                                                                                                                                        • idtapdat
                                                                                                                                          Confirmed User
                                                                                                                                          • Mar 2008
                                                                                                                                          • 1161
                                                                                                                                          #35
                                                                                                                                          there's no money in oil.
                                                                                                                                          icq - 473556037

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                                                                                                                                            • Roby
                                                                                                                                              Confirmed User
                                                                                                                                              • Nov 2004
                                                                                                                                              • 8035
                                                                                                                                              #36
                                                                                                                                              it is time to buy stocks of BP
                                                                                                                                              PicsForDesign - images for your Promo Work for Designers and Artists

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                                                                                                                                                • Sands
                                                                                                                                                  Confirmed User
                                                                                                                                                  • Feb 2007
                                                                                                                                                  • 3134
                                                                                                                                                  #37
                                                                                                                                                  I think the real question here is when should I buy BP stock? Someone ICQ me with friendly advice and I'll send cock pics in return.

                                                                                                                                                    Comment

                                                                                                                                                    • BFT3K
                                                                                                                                                      Too lazy to set a custom title
                                                                                                                                                      • Dec 2005
                                                                                                                                                      • 10764
                                                                                                                                                      #38
                                                                                                                                                      I wouldn't buy BP stock right now - no way!

                                                                                                                                                        Comment

                                                                                                                                                        • ottopottomouse
                                                                                                                                                          She is ugly, bad luck.
                                                                                                                                                          • Jan 2010
                                                                                                                                                          • 13177
                                                                                                                                                          #39
                                                                                                                                                          Originally posted by Sands
                                                                                                                                                          I think the real question here is when should I buy BP stock? Someone ICQ me with friendly advice and I'll send cock pics in return.


                                                                                                                                                          Can't see them folding myself unless all their current profits were just imaginary numbers.
                                                                                                                                                          ↑ see post ↑
                                                                                                                                                          13101

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                                                                                                                                                            • JP-pornshooter
                                                                                                                                                              Confirmed User
                                                                                                                                                              • Sep 2006
                                                                                                                                                              • 4007
                                                                                                                                                              #40
                                                                                                                                                              for BP it is all about damage control at the moment.
                                                                                                                                                              from what i hear they are already making payments to local business not able to bring in business due this spill, and they said they will pay any valid claim.. its gonna be expensive, alot more than just the spill and clean up itself.
                                                                                                                                                              tourism and commercial fishing just to name a few are hit hard and will have valid claims.
                                                                                                                                                              "Obscenity is whatever gives the Judge an erection." -- Author Unknown

                                                                                                                                                                Comment

                                                                                                                                                                • IllTestYourGirls
                                                                                                                                                                  Ah My Balls
                                                                                                                                                                  • Feb 2007
                                                                                                                                                                  • 14311
                                                                                                                                                                  #41
                                                                                                                                                                  They will pay and keep on going. If the ocean was privately owned they would go under. But government regulations and rules will keep them afloat.

                                                                                                                                                                  Originally posted by borked
                                                                                                                                                                  just to put things in perspective...

                                                                                                                                                                  Cool graph if true.

                                                                                                                                                                    Comment

                                                                                                                                                                    • Tom_PM
                                                                                                                                                                      Porn Meister
                                                                                                                                                                      • Feb 2005
                                                                                                                                                                      • 16443
                                                                                                                                                                      #42
                                                                                                                                                                      They could laugh at how cheap all this is going to be. Dont feel bad for them, they dont even notice.
                                                                                                                                                                      43-922-863 Shut up and play your guitar.

                                                                                                                                                                        Comment

                                                                                                                                                                        • borked
                                                                                                                                                                          Totally Borked
                                                                                                                                                                          • Feb 2005
                                                                                                                                                                          • 6284
                                                                                                                                                                          #43
                                                                                                                                                                          Originally posted by IllTestYourGirls
                                                                                                                                                                          Cool graph if true.
                                                                                                                                                                          It came from a BBC report, so it must have some element of validity behind it. Funny thing is though that that massive Kuwait shit absolutely never hit the media at the time, and even before now. Amazing how propaganda turns everyone into sheep

                                                                                                                                                                          For coding work - hit me up on andy // borkedcoder // com
                                                                                                                                                                          (consider figuring out the email as test #1)


                                                                                                                                                                          All models are wrong, but some are useful. George E.P. Box. p202

                                                                                                                                                                            Comment

                                                                                                                                                                            • roly
                                                                                                                                                                              Confirmed User
                                                                                                                                                                              • Aug 2002
                                                                                                                                                                              • 1844
                                                                                                                                                                              #44
                                                                                                                                                                              Originally posted by JP-pornshooter
                                                                                                                                                                              for BP it is all about damage control at the moment.
                                                                                                                                                                              from what i hear they are already making payments to local business not able to bring in business due this spill, and they said they will pay any valid claim.. its gonna be expensive, alot more than just the spill and clean up itself.
                                                                                                                                                                              tourism and commercial fishing just to name a few are hit hard and will have valid claims.
                                                                                                                                                                              i just read that the total revenue of the gulf of mexico commercial fishing industry for the whole of 2008 was $660million, which although a big figure, when compared to BP's annual profits, its a figure they could swallow fairly easy. obviosuly there's a lot more than just paying off the fishermen though.

                                                                                                                                                                                Comment

                                                                                                                                                                                • BFT3K
                                                                                                                                                                                  Too lazy to set a custom title
                                                                                                                                                                                  • Dec 2005
                                                                                                                                                                                  • 10764
                                                                                                                                                                                  #45
                                                                                                                                                                                  Originally posted by roly
                                                                                                                                                                                  i just read that the total revenue of the gulf of mexico commercial fishing industry for the whole of 2008 was $660million, which although a big figure, when compared to BP's annual profits, its a figure they could swallow fairly easy. obviosuly there's a lot more than just paying off the fishermen though.
                                                                                                                                                                                  The bigger cost will be the fines imposed for each barrel of oil spilled, plus the overall cleanup for same...

                                                                                                                                                                                  http://www.reuters.com/article/idUSN2514399520100525

                                                                                                                                                                                  http://www.examiner.com/x-33986-Poli...r-gallon-fines
                                                                                                                                                                                  Last edited by BFT3K; 06-02-2010, 11:30 AM.

                                                                                                                                                                                    Comment

                                                                                                                                                                                    • BFT3K
                                                                                                                                                                                      Too lazy to set a custom title
                                                                                                                                                                                      • Dec 2005
                                                                                                                                                                                      • 10764
                                                                                                                                                                                      #46
                                                                                                                                                                                      The news referenced BP and the possibility of bankruptcy a few times recently. Maybe just for shock value?

                                                                                                                                                                                        Comment

                                                                                                                                                                                        • JP-pornshooter
                                                                                                                                                                                          Confirmed User
                                                                                                                                                                                          • Sep 2006
                                                                                                                                                                                          • 4007
                                                                                                                                                                                          #47
                                                                                                                                                                                          Originally posted by BFT3K
                                                                                                                                                                                          The news referenced BP and the possibility of bankruptcy a few times recently. Maybe just for shock value?
                                                                                                                                                                                          there is a lot of pressure on BP right now, the stock is tanking and they are getting sued left and right..
                                                                                                                                                                                          "Obscenity is whatever gives the Judge an erection." -- Author Unknown

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                                                                                                                                                                                            • Sands
                                                                                                                                                                                              Confirmed User
                                                                                                                                                                                              • Feb 2007
                                                                                                                                                                                              • 3134
                                                                                                                                                                                              #48
                                                                                                                                                                                              Originally posted by Sands
                                                                                                                                                                                              I think the real question here is when should I buy BP stock? Someone ICQ me with friendly advice and I'll send cock pics in return.
                                                                                                                                                                                              I'm still here sitting on a stack of cock pics.

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                                                                                                                                                                                                • roly
                                                                                                                                                                                                  Confirmed User
                                                                                                                                                                                                  • Aug 2002
                                                                                                                                                                                                  • 1844
                                                                                                                                                                                                  #49
                                                                                                                                                                                                  Originally posted by JP-pornshooter
                                                                                                                                                                                                  there is a lot of pressure on BP right now, the stock is tanking and they are getting sued left and right..
                                                                                                                                                                                                  obama has just banned all drilling in the gulf for 6 months, and has said that bp should pay the unemployment benefit of the oil workers of other companies laid off.

                                                                                                                                                                                                  i think that's one step too far, the drilling could continue, its the US governemnt that has decided to suspend it.
                                                                                                                                                                                                  Last edited by roly; 06-10-2010, 09:51 AM.

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                                                                                                                                                                                                    • GregE
                                                                                                                                                                                                      Confirmed User
                                                                                                                                                                                                      • Jul 2004
                                                                                                                                                                                                      • 2704
                                                                                                                                                                                                      #50
                                                                                                                                                                                                      Originally posted by roly
                                                                                                                                                                                                      i just read that the total revenue of the gulf of mexico commercial fishing industry for the whole of 2008 was $660million, which although a big figure, when compared to BP's annual profits, its a figure they could swallow fairly easy. obviosuly there's a lot more than just paying off the fishermen though.
                                                                                                                                                                                                      Let's say that when all is said and done roughly half of the gulf (just a guess) is deemed unsafe for fishing. In that case, the number might be more like $400 million (allowing for inflation and such). Thing is, you then need to factor in how many years it'll take the fishing industry to rebound. Depending on who you listen to, we could be talking about multiplying that number by 10 or maybe even 30.

                                                                                                                                                                                                      And then (as you suggested) there's more. A lot more. There will be claims for diminished tourism, diminished property values, a substantially reduced local tax base, illnesses and on and on and on.

                                                                                                                                                                                                      BP will probably survive, but they'll do so by fighting the vast majority of these claims tooth and nail for the next twenty years or more.
                                                                                                                                                                                                      Last edited by GregE; 06-10-2010, 10:23 AM.

                                                                                                                                                                                                      50/50 lifetime payout - EXCLUSIVE CONTENT - CCBill
                                                                                                                                                                                                      CLiCK here for your Bun Beating Dollars.

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