BP going bankrupt! stocks down 15%!!

[ConHog]

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.

You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts

 

[Mini 14]

Almost 30% of BP's stock is held by US citizens/corporations, which represents the largest demographic of their stockholders. 30% of $100,000,000,000.00 would be a noticeable hit to the US markets, and would affect a lot more than just BP shareholders.

I don't see them going bankrupt either, and I don't see them paying the total bill for all of this. That number may never be known.

 

[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.

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.

but they still have to wait for the leak to end before bankruptcy right?

 

[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.

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.

You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts

no one is going to buy 'bp', somene will buy up their assessts and resources though

 

[txlonghorn]

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.

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.

So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks? And what about the moratorium on all drilling that is currently under consideration? That will shut down even MORE jobs from ALL oil companies. Not just BP.

 

[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.

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.

So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks? And what about the moratorium on all drilling that is currently under consideration? That will shut down even MORE jobs from ALL oil companies. Not just BP.

Well The Administration needs something to blame for the high unemployment numbers. Even they are beginning to see that Blame Bush is wearing thin.

 

[sangha]

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.

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.

So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks? And what about the moratorium on all drilling that is currently under consideration? That will shut down even MORE jobs from ALL oil companies. Not just BP.

BP doesn't own the wells. They own permits, and yes, other companies will buy the permits. Also, the wells aren't prone to explosions and leaks anymore than any other well.

 

[Big Fitz]

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.

You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?

I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"

That's how I feel about the econazis drooling to pounce on BP's still quivering corpse. Perhapse you've gone too far.

 

[blu]

You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?

I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"

That's how I feel about the econazis drooling to pounce on BP's still quivering corpse. Perhapse you've gone too far.

I am not an econazi and no is one to blame but BP and their lax standards and practices

 

[SFC Ollie]

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?

I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"

That's how I feel about the econazis drooling to pounce on BP's still quivering corpse. Perhapse you've gone too far.

I am not an econazi and no is one to blame but BP and their lax standards and practices

Ah, and we know this without an investigation.....OK.....

 

[sangha]

You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.

It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak

 

[SFC Ollie]

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.

It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak

I have a feeling that BP is going to need quite a few years of making a profit before they can pay for all that they will be expected to pay.

 

[Big Fitz]

no one is going to buy 'bp', somene will buy up their assessts and resources though

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.

It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak

and then who's going to pony up the dough? Who's going to hire the employees back? Who's going to do the work? All the while oil's bubbling out of the friggen ground.

You scream hurrah, and you do so while slicing open your own belly.

 

[sangha]

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.

It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak

and then who's going to pony up the dough?

BP

Who's going to hire the employees back?

The companies that buy BP's assets

Who's going to do the work?

BP's former employees who will find jobs with the companies that buy BP's assets

 

[ConHog]

right. And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?

I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"

That's how I feel about the econazis drooling to pounce on BP's still quivering corpse. Perhapse you've gone too far.

I am not an econazi and no is one to blame but BP and their lax standards and practices

Ah, and we know this without an investigation.....OK.....

We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.

 

[SFC Ollie]

I am not an econazi and no is one to blame but BP and their lax standards and practices

Ah, and we know this without an investigation.....OK.....

We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.

But without an investigation, Obama won't know whose ass to kick. We'll simply have to spend another 500 million or so to find out whose ass needs kicked. And of course we'll also have to have someone to blame for the rise in the deficit and unemployment. See all this can be worked out during the investigation and instead of blaming Bush he can blame BP. A fresh new bad guy to help him keep his numbers.

 

[ConHog]

Ah, and we know this without an investigation.....OK.....

We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.

But without an investigation, Obama won't know whose ass to kick. We'll simply have to spend another 500 million or so to find out whose ass needs kicked. And of course we'll also have to have someone to blame for the rise in the deficit and unemployment. See all this can be worked out during the investigation and instead of blaming Bush he can blame BP. A fresh new bad guy to help him keep his numbers.

why bother? We already know who's fault this is


BOOOSH!!!!!!!!!!!

 

[boedicca]

Now we know how Obama is going to use the remaining Stimulus funds. Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick. That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).

 

[Political Junky]

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.

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.

well, fuck those shareholders right. I mean let's go get BP.

BP just sent $billions to stockholders.

 

[ConHog]

Now we know how Obama is going to use the remaining Stimulus funds. Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick. That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).

Brilliant, but I really feel he'll need extra funding to locate said asses. Stimulus 3 anyone?