BP going bankrupt! stocks down 15%!!

Discussion in 'Stock Market' started by blu, Jun 9, 2010.

  1. blu
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    blu Senior Member

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  2. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    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.
     
  3. ConHog
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    ConHog BANNED

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    No shit I was thinking the exact same thing . More proof that people are stupid.

    Kind of like idiots who say, well I'm going to buy a new car but it damn sure aint gonna be a GM since they took government money :lol: moron the more cars GM sells the faster they can pay us back LOL
     
  4. sangha
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    sangha Senior Member

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    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.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Well, I'm still not going to buy a GM car. I never like them before they turned into bailoutees.
     
  6. ConHog
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    ConHog BANNED

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    well, fuck those shareholders right. I mean let's go get BP.:cuckoo:
     
  7. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    If BP's stock price is dropping that much, Id consider investing.

    Seriously, how exactly are they supposed to clean up the oil spill if they have no money people? I know you guys like punishing people arbitrarily but think about this alittle.
     
  8. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's the same type of attitude displayed by people who clamor to raise taxes on The Rich, only to find that once The Rich have less money to invest, there are less decent jobs for the "clarmorers".
     
  9. sangha
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    sangha Senior Member

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    I shed no tears for BP shareholders (of which I'm one) losing money
     
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  10. ConHog
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    ConHog BANNED

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    People like sangha don't let thinking get in their way. LOL In another thread he called picketing an act of terrorism. ROFL
     

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