BP oil leak victims

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i have ignored these threads on the oil disaster... i have stuck my head in the sand and turned away.. because this issue is so so heartbreaking and heartwrenching i just did not want to get upset ... this subject can and does upset the best of us... i cannot stand to see the poor wildlife .... just heart breaking.
 
You all are forgetting something even more important then a few fish and birds...

This spill is effecting THOUSANDS of American families along the Gulf Coast. Most of which will probably never see a dime from BP for the damage they called.

I live in an area that has been directly impacted by the oil and can see this with my own two eyes. First and foremost the pic originally posted is NOT FROM THE OIL SPILL. That is not what it looks like at all. Besides I thought this was fish site? One of the fish is CLEARLY a cichlid of some sort and no cichlids are found where the oil has washed up so far.

I live 7 blocks from the Gulf Of Mexico and honestly the wildlife here is doing ok but the economic damaged are already severe. Its eerily quiet around here. Its not just the hotel owners and fisherman that are hurting. Its everyone from the guy that cleans the hotels carpets to the guy that sells video games to the guy that cleans the hotels carpets that are hurting. Do you think Mr Videogame salesman is going to get anything? Hell no.

BP messed this up, however if you think they are taking this long to plug the leak because they till want the oil, you are very wrong! It would be MUCH MUCH MUCH cheaper for BP to simply redrill the well if there was a way to quickly and safely stop the leak.

This could bankrupt BP. Yes they may have tens of billions in sales but it doesnt take much to bankrupt a company when their expenses are 98% of their sales.

Overall, coming from some one in the middle of it all, what I have seen personally in m area is very little ecological damage but pretty significant economical damage to the local economy. Hell after lunch Im going to the beach to swim, do a little fishing and look for seashells.
 
JD7.62;4211467; said:
This could bankrupt BP. Yes they may have tens of billions in sales but it doesnt take much to bankrupt a company when their expenses are 98% of their sales.
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It is not even close to bankrupting BP! Where do you get that their net profit is only 2%?? How about 7% last year after paying all expenses including taxes!! Please check you facts!!! You are also discounting the fact of something called assets, let alone the ability to borrow huge sums of capital if need be!!

Check it out: http://www.marketwatch.com/investing/stock/BP/financials
 
actually there is a very good chance this is gonna bankrupt them. they dropped from 80 plus bucks a share to 20 something, in what a day? its gone up slightly but not much. There is a good chance of this bankrupting them and then everybody will be paying to clean up for them
 
BP has very deep pockets but they are also quite capable of shielding it from claims if they have to.

It may be a good idea to force them to establish an escrow account where all payments for all damages and punishments can be collected from. The escrow account can also shield those moneys from the other claims on BP's business.
 
Lepisosteus platyrhincus;4213960; said:
actually there is a very good chance this is gonna bankrupt them. they dropped from 80 plus bucks a share to 20 something, in what a day? its gone up slightly but not much. There is a good chance of this bankrupting them and then everybody will be paying to clean up for them
Click to expand...

Not even close. I guess some people here are not:

1) Good at math

2) Don't have a clue about business and/or finance
 
im very good at math. im also not stupid or nieve. Im not sayin its gonna bankrupt them. Im just sayin its a possibility. Ur head is in the sand if u dont think thier is that possiblity.

I just saw on the biased media that this is a concern with many economists.

Again not sayin it will but it is a possiblity. If u have no trust from ur investors.....
 
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:/
http://www.geoplatform.gov/gulfresponse/
 
Actually one does not have to be good at Math or business and/or finance to consider the idea of bankruptcy for BP.

For one thing BP is no stranger to bankcruptcy. They have a venture in Russia already bankcrupt:

http://www.nytimes.com/2010/06/04/business/global/04rusoil.html?scp=1&sq=BP Bankcruptcy&st=cse

....and BP might be forced into strategic bankcruptcy to save itself and escape the mounting claims when the moolah runs out. BP like any other business have liabilities to offset their assets. These catastrophe will make it very expensive for them to borrow funds in the future when their debts become due. Their rating is now approaching junk status.

Remember Bear Stearns and Lehman Brothers? Many, well versed in math, business, and finance thought they were too big to fail;) Where are they now?
 
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