if BP is so cash rich, why would they have a debt offering at junk rates? I thought cancelling dividend was to free up cash for spill. That's not a good sign. Anyone have better understanding?
Losing jobs means the economy down there gets hurt even more. Adds more fuel to the fire. The jobs lost are good paying jobs with good benefits. A lot of the jobs that are getting hurt right now due the spill are junk jobs: fishing hands, hotel clerks and maids and janitors, etc. Most are working at twice their wage cleaning up the beach working for BP. Its not that simple.
Union Carbide tanked in Bhopal, India as claims continued to build endlessly, DOW chem later collected pieces.
Presently we see no end to claims process here either. 20B fund an effort to lock 20B in before legal "work out" and long lines at collection booth begins, if that happens.