Since Sheldon owns over 50% of LVS shares if he wants a special dividend or an increased dividend who can stop him from making his desires a reality?
Maybe RDS has no alternatives and they are forced to go where the reserves are regardless of the high risks inherent with this deal. RDS must know the danger but they are desperate for oil to pump.
Could it be because Shell's Nigerian Delta oil pipeline is being tapped by local bandits for 150,000 barrels of oil per day and Shell's oil reserves are dropping too fast to be replaced? This is just my guess.
The Market Makers set the opening price for the beginning of the market day. It can be higher or lower or the same as the previous day's closing price.
The judge and lawyers who determine how much each claimant receives from the uncapped BP settlement will view this stock buyback as a sign that BP has so much money the only thing they can do is spend it on stock. The plaintiffs will be awarded even more in damages now because of BP's hubris as shown by the buyback announcement.
How do you figure "litigation is actually our friend" when the court hates BP for all the damage that it caused plus the court has the power to take as much of BP's money as it feels like taking? The court is just really people, locals, who can and will award themselves and their friends all the money they want. They will take their revenge in BP's dollars.
Judging from the drop from $14 to $9.97 in about 3 months people knew this train wreck was coming! Knowledge is power and $$$.