1. No one knows with certainty how the Appellate Court's decision will effect future economic loss payments. The Court directed Barbier to direct Juneau to assess payouts in a way which assures proper accounting practices are followed. We will have to wait to see what Barbier does to know if this will limit payouts very much. That's why the market's response is fairly tepid.
2. The decision, legally, was bad imo. The dissent is correct, the 1 judge who wrote the majority opinion (an oil industry lawyer by background, btw), improperly is re-writing the agreement for the parties. The judge states claimaints must show some loss due to the oil spill, but the idea of the settlement was the oil spill caused such a severe economic downturn the entire economy was effected. It's really a poorly reasoned opinion, imo. I agree fully with the dissent!
3. This is still a victory for BP (albeit unclear how much). This will be the only way BP will likely get victories going forward - judges on courts of appeal.
4. I disagree that this decision will make Barbier more inclined to treat BP less harshly, as some believe. I have to think Barbier is really frustrated with the appeals decision, both being unfounded legally, and unclear as to what, exactly, he's supposed to do now. And the appeals court was courteous enough to direct him to do so "expeditiously" on the second day of phase II of the trial -- like he isn't busy enough!!
5. This decision does have the potential to save BP at least $2b. But we just don't know yet. So it has to be seen as encouraging news for longs. This is a good day for them, no doubt.
6. Nadsmis is a liar. He stated he sold his entire BP position. He posts here to insult me, and anyone else who disagrees with him. Do a search of his other posts, all he does all day is insult people on stock boards. Bad apple on every board I suppose.
I ran across NADS, as I like to call him, on the COP board where he attacked me for calling out a short seller posting on COP under the post title of,,,,"Why I sold COP" with the hidden message of, "You should also and buy this REIT". Blatant SPAM, so I made a little fun of the shorter/distorter and NADS, as I like to call him, took exception and decided to insult me as being unfunny and a moron. Well, NADS, as I like to call him, seems to attract negative attention but if you really want to communicate with him, you will have to translate you conversation into a Tennessee dialect.
ikki, I NEVER said I liquidated my entire position you big mouth fool. I said I trimmed it, and I did. also, I don't suffer fools and they are the ones who are on the receiving end of any insults i post. such as yourself.
As this is a good day for all BP investors, this is a bad day for you, huh? BP up and paying a great yield. COP down and paying a lesser yield.
Must be extra tough as it comes right on the heals of Tommy Chop Chop dumping you.