BP oil leak victims

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GudEnuf;4214299; said:
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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1) True! One does not have to be good at math and business to consider bankruptcy for BP! One only has to be good at math and business to REALISTICALLY consider bankruptcy for BP!!

http://www.marketwatch.com/investing.../BP/financials

2) Have an MBA from Harvard Business School do we? :ROFL:
Liabilities to offset their assets? :ROFL: How about assets to offset their liabilities? :D And yes, they do have VERY extensive assets to offset their liabilities!


A trillion dollar loss based on pie in the sky heavily leveraged "assets" is a huge difference compared to a multi-billion dollar loss. Also what hard assets does a finance company/investment company have compared to an asset rich oil company? A VERY poor comparison! They said the same thing about Exxon and the oil spill in Alaska. Multi-billion dollar bill was paid and it didn't even make a noticeable dent.
 
Total Liabilities have not been established yet. The biggest estimate so far is 50+ billions and it keeeeeeeps growing by the minute. By the time the lawyers and juries are done with it, one Thrillion may not be enough. Currently under consideration is increasing the cap on the liabilities and banning BP from doing business in the USA as part of the punitive damages.

http://www.marketwatch.com/story/bp-credit-rating-slashed-six-notches-by-fitch-2010-06-15

http://www.marketwatch.com/story/escrow-plan-draws-first-blood-at-bp-2010-06-15

It looks like you've fallen in love with your stake in BP. There are many other companies out there, Oil and Gas producers even, that are better alternatives to BP;) If BP even survives this, it will take years to rehabilitate the company and the name BP may even disappear and may have to do business under a different name. Time to dump your shares?:ROFL:
 
JD7.62;4214280; said:
As yall can see from that map, not much coastline has been hit hard.
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...yet. :( All the BP stations I pass by are ghost towns. It was only a matter of time before a major disaster on one of the rigs occurred. The US doesn't require the same means of prevention in event of damage that most other countries do. It will be interesting to see if the legislation finally changes. Honestly, I hope that BP goes down to scare other companies to not skip corners in the future, whether its required by the government or not.
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GudEnuf;4214792; said:
Total Liabilities have not been established yet. The biggest estimate so far is 50+ billions and it keeeeeeeps growing by the minute. By the time the lawyers and juries are done with it, one Thrillion may not be enough. Currently under consideration is increasing the cap on the liabilities and banning BP from doing business in the USA as part of the punitive damages.

http://www.marketwatch.com/story/bp-credit-rating-slashed-six-notches-by-fitch-2010-06-15



It looks like you've fallen in love with your stake in BP. There are many other companies out there, Oil and Gas producers even, that are better alternatives to BP;) If BP even survives this, it will take years to rehabilitate the company and the name BP may even disappear and may have to do business under a different name. Time to dump your shares?:ROFL:
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Not in love with BP or any other company, but shorted the fall and have day traded BP and made well over 200% on my money with the daily rise and fall! You? :ROFL: :ROFL::ROFL:
 
Knowdafish;4216469; said:
Not in love with BP or any other company, but shorted the fall and have day traded BP and made well over 200% on my money with the daily rise and fall! You? :ROFL: :ROFL::ROFL:
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Sorry to hear that. Good luck with your shorts. I think your 200% profit just evaporated as BP initiated action to conserve their cash and also agreed to fund a 20 billion escrow account, a psychologically good move for the vultures circling BP.

Been busy accumulating dividend payers on the recent decline and selling on rallies and buying on pullbacks, buying low and selling high;), no shorts for me and no margin accounts.
 
BP was wild today. If you think you made a bad move and it started to tank just wait 5 min and it would end up being a good move.
 
krzr3000;4218163; said:
BP was wild today. If you think you made a bad move and it started to tank just wait 5 min and it would end up being a good move.
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Exactly!! It's been wild! 10% profit most days is soooo easy! :D :headbang2
 
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