for their product failure, it was part of a team approach. Lets face it, everyone went after BP because they had deep pockets its the American way.
B-O-P product failed and it doesn't matter if it was modified, the end result is the part that failed was the only one that mattered and the product is designed to do what it failed to do...end of story.
The sad part...all those who stuck out their hands for money will never give a penny of theirs to the ones who died.
The only question that matters...is CAM now a good Short position LT? Because Wall Street loves blood money almost as much as the Oil/Service companies!
The two biggest sharks finally swimming together, close the beaches!
So was it a good ST short with profits and an opportunity to buy a good long-term company for a discount?
IMO...most of the others will follow in this path...
"This is the first recognition by one of the partners that actually...blame is shared and should be shared and therefore the costs should be shared as well," Societe Generale analyst Irene Himona said."
"It is very significant because clearly now it means that BP can try and ensure that everybody else who is involved will also meet their obligations," she added."
Cameron should cowboy up and be done with it...they were partners in the well and share responsibility...using lawyers to hide behind their responsibility could drag on for years and dig a bigger hole.
blood in the water? what are you talking about? you act like CAM is not a worldwide company with tenacles in places with no regulatory oversight. emerging markets with new exploration and wait, yes the good old gulf is going to need some more BOPs according to the new regs coming out of DC. wtf
Oh I'm not mad, just stating the facts and looking at CAM as a LT short.
"you act like CAM is not a worldwide company with tenacles in places with no regulatory oversight"
What does that have to do with the lawsuit?
"yes the good old gulf is going to need some more BOPs according to the new regs coming out of DC. wtf"
Every hole has one but GOM business is slow...but I think you missed my point, is it a good short if CAM is in a legal battle for years and has to pay a huge settlement for their part in BP GOM oil spill?