BP going bankrupt! stocks down 15%!!

[dilloduck]

the government didn't force BP to perform sub par work leading to the disaster. and again, bp going otu of business would hurt for a little bit but much of their assessts and resources would be bought up by other businesses

Hurt whom for this "little bit" ?

the workers and people depending on BPs work and viability

How many people do you think that is ?

 

[sangha]

Yes. Capitalism does involve destruction as well as creation. That's perfectly natural.

What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time. It's nothing to cheer on, unless one is a masochistic sadist.

The govt is making BP stock go down. BP shareholders are.

Blame them

 

[WillowTree]

lefties will cream and the unemployment records will rise and all in unison will blame booooooooooooooooooooooooooooooooooosh.

 

[boedicca]

I'm not talking about the stock price - I'm discussing the company's financial solvency and the threat of bankruptcy. Celebrating BP's potential insolvency is stupid and self-destructive.

 

[sangha]

I'm not talking about the stock price - I'm discussing the company's financial solvency and the threat of bankruptcy. Celebrating BP's potential insolvency is stupid and self-destructive.

Then you are very confused. A low stock price does not cause bankruptcy. BP isn't going bankrupt

 

[boedicca]

No, you're confused. Read the article for comprehension and retention.

The stock price is going down due to investor financial concerns. blu is happy about both - and claims that BP may go bankrupt. I have commented specifically on the bankruptcy aspect.

 

[sangha]

No, you're confused. Read the article for comprehension and retention.

The stock price is going down due to investor fears of bankruptcy. blu is happy about both. I have commented specifically on the bankruptcy aspect.

"fear of bankruptcy" is not "bankruptcy"

Just because investors are panicking, that doesn't mean BP is going bankrupt

For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.

BP has the money to get through this.

 

[boedicca]

Then take it up with blu. He's the one who is dancing a jig over the prospect of BP's untimely demise.

 

[sangha]

Then take it up with blu. He's the one who is dancing a jig over the prospect of BP's untimely demise.

My apologies, then. I thought your concerns were for the workers, not what one poster on the Internet has to say

 

[SFC Ollie]

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.

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 moron the more cars GM sells the faster they can pay us back LOL

Actually i never will buy a GM. Strictly Fords, for a reason. But that is a whole different story.

 

[boedicca]

To Sangha:

They are, you idiot. (clue: start with post #2.) But I've already noted your lack of reading comprehension and retention, so I won't repeat the observation.

 

[blu]

lefties will cream and the unemployment records will rise and all in unison will blame booooooooooooooooooooooooooooooooooosh.

please don't post in my thread unless you have something useful to say

 

[blu]

No, you're confused. Read the article for comprehension and retention.

The stock price is going down due to investor fears of bankruptcy. blu is happy about both. I have commented specifically on the bankruptcy aspect.

"fear of bankruptcy" is not "bankruptcy"

Just because investors are panicking, that doesn't mean BP is going bankrupt

For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.

BP has the money to get through this.

they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect. until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused

 

[dilloduck]

No, you're confused. Read the article for comprehension and retention.

The stock price is going down due to investor fears of bankruptcy. blu is happy about both. I have commented specifically on the bankruptcy aspect.

"fear of bankruptcy" is not "bankruptcy"

Just because investors are panicking, that doesn't mean BP is going bankrupt

For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.

BP has the money to get through this.

they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect. until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused

and all the people have invested in them or are dependening on them to stay afloat ?
do they (we ) deserve it too ?

 

[Toro]

This is simple.

BP is going to have to pay for the clean-up. If the liabilities from the clean-up plus all their other liabilities exceed the value of their assets, then they are bankrupt. If all their liabilities are less than their assets, then they are not bankrupt.

This is neither "good" nor "bad" pertaining to the oil spill. It just is. BP would attempt to enter a pre-packaged bankruptcy to ascertain their total liabilities.

 

[Big Fitz]

You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.

Would serve the ecofascists right.

 

[blu]

"fear of bankruptcy" is not "bankruptcy"

Just because investors are panicking, that doesn't mean BP is going bankrupt

For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.

BP has the money to get through this.

they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect. until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused

and all the people have invested in them or are dependening on them to stay afloat ?
do they (we ) deserve it too ?

you may not deserve it but that is how capitalism works

 

[blu]

You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.

Would serve the ecofascists right.

actually, all of their assets would be sold and then used for whatever liabilities they still owed. it would be the owners and investors in the company who would lose out

 

[ConHog]

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.

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 moron the more cars GM sells the faster they can pay us back LOL

Actually i never will buy a GM. Strictly Fords, for a reason. But that is a whole different story.

No, I agree there can be valid reasons for choosing not to by GM, but babbling about "they took our money" isn't one of them.

 

[Toro]

You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.

Would serve the ecofascists right.

Bankruptcy does not mean they won't pay. What it means is that they will know how much they would have to pay. That's all.

As it stands, BP cannot go bankrupt right now. A pre-packaged bankruptcy allows BP to know what they would have to pay out in total. It would almost certainly wipe out shareholders. That is why the stock of BP got crushed today.