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BP p.l.c. Message Board

  • retiredbill retiredbill Dec 21, 2012 9:58 PM Flag

    BP Gulf Oil Spill Judge Approves $7.8 Billion Settlement

    December 22, 2012
    BP Gulf Oil Spill Judge Approves $7.8 Billion Settlement

    A federal judge has given final approval to BP's settlement with businesses and individuals who lost money because of the 2010 Gulf of Mexico oil spill.

    BP PLC estimates it will pay $7.8 billion to cover economic and medical claims from more than 100,000 businesses and individuals.

    U.S. District Judge Carl Barbier approved the settlement in a 125-page ruling Friday.

    Bill

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    • This is dire judgement. Over $2.50 per share capitulation. With the other claims pending this will sink the company deeper into the gulf morass as more opportunists come forward to assert claims of unknown origins and substantiation. A settlement of the Romney riders on the misfortunes of the productive members of society. Poor BP is decimated to prop up indolents. In the meantime the pensioners and retirees whom BP dividend supports in alleviation of the miseries of old age are plagued with reductions severe of income which families must now cope. The disaster is one of historic ransom visited upon a corporation that is striving to provide supplies needed for the comfort and evolution of the human race. Are claims substantiated? over 100,000 with claims of $78,000 each. How many of claimants would ever earn that much money tax free in ten years? For many this likely is more than their entire net worth. Better for there to have been food pantries set up lest anyone injured be hungry and the hurricane katrina trailers be utilized were shelter at issue. BP shareowners suffer the consequences of the inability to spell out the responsibilities of others to accept guidance of their livlihoods devoid of opportunistic temptations.

      It is for reasons like this that the fiscal cliff exists. Too many free rides and a welfare society of hangers-on hoping for a government windfall at the expense of the honest laboring and enterprising classes. Were this the end of it! The BP dividend has been diverted to sop the clamor of the mob subject to no cap. Carte Blanche to these as retirees are drained of their dividends.

      Sentiment: Strong Sell

 
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