BP going bankrupt! stocks down 15%!!

[ConHog]

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.

Yep, and they deserve it, I hope they also sent Obama an email that said "fuck you we paid our dividends"

 

[SFC Ollie]

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).

Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.

 

[Mini 14]

I wonder if calling the CEO of the company you've blamed it all on would give him any leads on whose ass to kick?

Maybe a postcard, or an email?

IDK....might be worth a try though.

 

[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).

Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.

Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.

 

[Political Junky]

Corporations before people, is what the new right stands for.

 

[ConHog]

Corporations before people, is what the new right stands for.

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

 

[SFC Ollie]

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).

Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.

Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.

We used to go out and "find" pop bottles to make a dime so we could go to the pool. If they need to raise the price to open then so be it. Or if they have to ask for federal assistance OK ask away. But the stimulus has already been over abused for BS projects that do not create permanent jobs.

 

[NYcarbineer]

Enron disappeared. Arthur Andersen all but disappeared. Rightfully so, and we all didn't perish for it.

 

[ConHog]

Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.

Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.

We used to go out and "find" pop bottles to make a dime so we could go to the pool. If they need to raise the price to open then so be it. Or if they have to ask for federal assistance OK ask away. But the stimulus has already been over abused for BS projects that do not create permanent jobs.

I was being facetious in comparing the cost of a pool to some of the other boondoggle's of the bloated stimulus package.

 

[Political Junky]

Jindal famously opposed the stimulus, but took $millions of it and distributed checks with his name on them.

 

[ConHog]

Jindal famously opposed the stimulus, but took $millions of it and distributed checks with his name on them.

You do of course realize there were several hooks if a state turned down stimulus funds right?

 

[sangha]

Corporations before people, is what the new right stands for.

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

Corporations are not "composed of people". Corporations HIRE people. They are not made of people. They are made BY people.

And the employees will be able to get a job with whatever corporations take over BP's permits. Wells don't drill themselves.

 

[ABikerSailor]

Corporations before people, is what the new right stands for.

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

Hey Cum Hog, got a question for you there sportcheck.............

Let's say that I own a business that is national, and the product I put out puts people in the hospital. Because the company is national, there are a couple thousand employees in my company.

I fail to follow proper procedures which is why the people got sick. Do I get to stay in business because of the several thousand people that I employ? I mean, only 30-50 people got sick, and only 1 or two died..........

It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick. Why? Unsanitary practices, as well as a failure to inspect things properly.

The company went out of business by the way.

BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology. They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.

And you're saying they should stay in business? How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?

 

[ConHog]

Corporations before people, is what the new right stands for.

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

Hey Cum Hog, got a question for you there sportcheck.............

Let's say that I own a business that is national, and the product I put out puts people in the hospital. Because the company is national, there are a couple thousand employees in my company.

I fail to follow proper procedures which is why the people got sick. Do I get to stay in business because of the several thousand people that I employ? I mean, only 30-50 people got sick, and only 1 or two died..........

It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick. Why? Unsanitary practices, as well as a failure to inspect things properly.

The company went out of business by the way.

BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology. They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.

And you're saying they should stay in business? How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?

Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.

1. That particular incident was not that companies first situation where customers were poisoned

2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.

So, a direct analogy is as worthless as you.

 

[txlonghorn]

Corporations before people, is what the new right stands for.

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

Can't rep you yet...so kudos

 

[txlonghorn]

Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?

Hey Cum Hog, got a question for you there sportcheck.............

Let's say that I own a business that is national, and the product I put out puts people in the hospital. Because the company is national, there are a couple thousand employees in my company.

I fail to follow proper procedures which is why the people got sick. Do I get to stay in business because of the several thousand people that I employ? I mean, only 30-50 people got sick, and only 1 or two died..........

It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick. Why? Unsanitary practices, as well as a failure to inspect things properly.

The company went out of business by the way.

BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology. They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.

And you're saying they should stay in business? How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?

Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.

1. That particular incident was not that companies first situation where customers were poisoned

2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.

So, a direct analogy is as worthless as you.

you got it...sportcheck....whatever that is...

 

[Mr.Fitnah]

Jobs jobs jobs
How many SEIU AFLCIO pensions will be hurt by this ?
Or Will the Fascist power grab continue? Is BP to big to fail?
Bail out incoming .

 

[syrenn]

If BP declares bankruptcy doesn't that mean all of their holdings are forfeit? Wouldn't that mean that WE would own all of BP? Sounds like a deal to me.

 

[ConHog]

If BP declares bankruptcy doesn't that mean all of their holdings are forfeit? Wouldn't that mean that WE would own all of BP? Sounds like a deal to me.

No that is not what it means. You do realize that BP is a British company and could simply dissolve and tell the USG to fuck off right? What is Obama going to to do , send marines to London to apprehend their CEO?

 

[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.

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

I'm not assuming anything. It's irrelevant who might purchase BP. No one might purchase BP. They could easily come out of bankruptcy after the liabilities are known.