I calculate over $26 billion in cost for this disaster plus years of criminal proceedings. This debacle is going to unfold into absolute horror for bagholders and wipe-out the equity possibly in total. This is the BIG ONE every shareholder fears. I'm surprised the stock isn't $20. It reminds me of a Worldcom where you know the stock is worth $2 ($0 in the end!) but the price slowly walks lower and lower. It's not like TIVO today that dropped 40% in a day on a grant to DISH of an appeal. No. BP slowly walks lower and lower as the big, important players unload on the suckers.
Make no mistake, this stock is going lower and I mean...
bingo! Ohbummer needs to add a big oil company to his nationalism portfolio consisting of all houses, student loans, Big Auto, insurance, and banks. Pretty soon, he'll be hosting the Hugo Chavez show, but call it the BO Show, to tell you how all the "investments" are doing so well.
oh the smell alone has all the Katrina victims sick and deliriously smelling, seeing even tasting $$$$
defending the class actions alone will be 90% of BP's fieldwork over the next 10 years.
you're an absolute lying, full of $hit, misinforming putz!
<<...no oil has even come close to land.>> that's total b/s and you know it.
brace yourself, fool, or otherwise, my apologies as you wait for the story to become available in braille because you're blind! put down the crackpipe and do your research instead of board PR pump-job!
one drunk captain vs. a company that had no permit or disaster plan...big difference.
I've been to PWS, too. The vast area and magnitude of damages are 1 million times greater in the Gulf than PWS. Don't try to downplay this disaster...just put your money where your mouth is.
XOM had a much easier political and environmental climate than now. BP is fooked both politically and financially. the only question remains is: How bad does the disaster continue to get and will there be anything left of BP?
Please, do us all a favor, don't confuse XOM's survival from $147 oil with BP's massive disaster and $71 oil and falling. Much tougher times ahead, and it's not like a stronger economy that XOM enjoyed. BP is dangling over the abyss, I promise.
The news coming out gets worse and worse, as more is discovered and more stuff is hidden from the public (I'm especially eager to hear the wasted barrel count per day). I expected a strong dip today and it never happened. Big deal...made it cheaper to buy high-demand puts (probably being sold to people in their own company who've amassed their life savings in BP stock and are trying to hold on for dear life). But over a weekend, a lot of shit can go down. A ten point drop on Monday is VERY possible...with things souring from there.
But overall...I say 20 by the time they get the spill cleaned, 5-10 by the time they get their asses handed to them, via the lawsuits. And worse: The bitter irony is a European company (let's not forget the simple Euro matter as well) is ruining one of the largest bodies of water in the US and possibly other countries. Just wait for hurricane season and he have oil-canes and coastal cities get painted in black.
You bet it does. And just like sub-prime and "Freddie and Fannie are well capitalized"...all total bull$hit leading up to the greatest bailout and plundering in world history. If it's bad like we know it, it's a million times worse behind closed doors. The frauds never tell the truth or disclose to the public the real details.
Do any of you guys remember Owens Corning and it finally filing bankruptcy with asbestos? Not really related but I remember people saying "You're crazy! Never happen." Well, I also said Enron would go BK and that was at $50! Also predicted Countrywide would collapse from $34. Again, not that these are related, but after so many years of being around the b/s, you get a gut feel. I got it here. Then again, I could be wrong, however my estimates support otherwise. We'll see.