BP going bankrupt! stocks down 15%!!

[blu]

Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com

 

[boedicca]

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.

 

[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

 

[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.

 

[boedicca]

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

 

[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.

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.

 

[Avatar4321]

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.

 

[boedicca]

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".

 

[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.

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

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

 

[ConHog]

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.

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

 

[blu]

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

as if anyone us of will see the repaid money

 

[blu]

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.

isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?

 

[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.

isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?

Do you really think companies are going to line up to buy BP right now with the huge liability which they, rightfully, have hanging over them right now?

 

[blu]

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.

the shareholders will lose due to bad investment. that is how the market works. you aren't guaranteed success

 

[boedicca]

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.

 

[blu]

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.

isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?

Do you really think companies are going to line up to buy BP right now with the huge liability which they, rightfully, have hanging over them right now?

I think you need an economics lesson. other companies will buy BP assessts, existing contracts, etc, none of which are a liability

 

[blu]

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 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

 

[boedicca]

The oil industry is one of the most heavily regulated in the U.S. - that's worked out really well.

 

[dilloduck]

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 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" ?

 

[blu]

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 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