British Petroleum is an international oil and gas company. BP stock was consistently trading above $60 per share until the oil spill in the gulf of Mexico occurred on April 20, 2010. BP shares sank to their lowest levels in 13 years as U.S. lawmakers pressed the British oil company to halt its dividend payments and fork out more compensation for damage caused by the massive Gulf of Mexico oil spill. 52 days later, BP is lost $90 billion in market share and has yet to contain the catastrophic spill. The cost of the cleanup and containment efforts has now hit $1.43 billion. Let me remind you that a) the leak hasn’t been stopped, b) they are facing lawsuits, and c) BP has to clean up the mess after the well is sealed. Click here to read the rest of the article and the commentary that follows.
Could be a good time to get into BP cheap. The Chinese are reportedly looking at purchasing the company.
Just keep an eye on their adwords campaign. If they stop outbidding you, you know it's a good time to buy: Damage control: BP buys Google, Yahoo search words
bad luck to BP and the ocean for the spill and the mess, I don't think one would be daring to buy BP until the spill mess is cleared, else it would be head ache to the new acquirer It some how puzzles me, the way US govt. is reacting to the incidents, for death of dolphins in the ocean they have asked a huge amount to be paid by BP as a penalty, where as an US-owned company Union Carbide, (which was responsible for deaths of over 20k and 600k affected to it for Bhopal Gas Tragedy ), the outrageous verdict given by the court was applauded by the US Govt. and said they will not review the petition again, so for US Govt. dolphins are more valuable than a human life ?
I don't think BP is up for sale to the Chinese. It is strategically important assets. Whether it goes to bankruptcy or not depends more on the political factor than anything else.
It's a public company. 40% is owned by Britons; 39% is owned by Americans. More on the possible PetroChina takeover of BP: http://blogs.wsj.com/deals/2010/06/10/china-to-the-rescue-will-petrochina-acquire-bp/ http://www.businessweek.com/news/20...rom-acquiring-bp-stanchart-says-update1-.html http://ftalphaville.ft.com/blog/2010/06/10/257006/the-sinofication-of-bp-thinking-the-unthinkable/
May the US Gov't stand above all else forever. Perhaps the two above are the same and for all the creatures of the sea man is but one among the many. What is terribly wrong is the lack of concern exhibited by the worlds religious leaders in regards to the defecation to our Sea within the Garden.....Oh, the human tool is minimal, not to worry for Gods other creatures nor the Garden given for remittance, their literature is void and within them there is emptiness - for all that is good to see. .
I always heard that his herb was top shelf I just could not wait to find out for myself Don't knock it til' you tried it, Well I tried it my friend And I'll never smoke weed with BreezeWood again I learned a hard lesson in a small C.A. town He fired up a fat boy and passed him around The last words that I spoke before they tucked me in Was I'll never smoke weed with BreezeWood again I'll never smoke weed with BreezeWood again My parties all over before it begins You can pour me some old whiskey river my friend But I'll never smoke weed with BreezeWood again I hopped on his old Vanagon, the Capitalism Blows The party was Frisco, it was after the show. Alone in the peace office with just me and him, With one parting puff grim creeper set in. I'll never smoke weed with BreezeWood again My parties all over before it begins You can pour me some old whiskey river my friend But I'll never smoke weed with BreezeWood again Now we're passing the keyboard and writing bad posts I know ones a-comin' cause I'm smelling smoke No I do not partake, I just let it pass by With a smile on my face and a great contact high I'll never smoke weed with BreezeWood again My parties all over before it begins You can pour me some old whiskey river my friend But I'll never smoke weed with BreezeWood again In the fetal position with drool on my chin I messed up and smoked weed with BreezeWood again Apologies to Toby Keith...
You know how market cap works? When the stock dips 10%, that 100billion dips to 90billion. 20% - 80 billion, and so on and so on. At some point, they will look like a bargain, and they will get bought. Their new owners will likely wash their hands of the issue. I know I would.
A persons persuasion and intent is what is most important - as a statement for all future development, BP's demise and dissolution for such an egregious error should be the final resolution to the (continuing) calamity. The prevalent majority opinion in promoting these and many other demeaning projects is the unfortunate persuasion that is allowed to repeat itself when the proper resolution exist but is ignored. The previous election was an attempt in the right direction, sanity over greed - better to stand and improve for the future than return to the past. .
You forgot to mention we should also immediately stop all use of fossil fuels and switch to a green energy economy! Wasn't it John Lennon who sang, "Talkin bout a revolution, ya ya". Of course he got shot.
Simply why not to buy BP stock in particular with their previous record and management style in mind and their present situation. Managing the Garden is fine, destroying it is not. .
what was that stupid chant drill baby drill lol now here is when the republicans call to joe the plumber to see if he can cap the pipe for them.
BP has contracted Goldman Sachs, Blackstone Group and Credit Suisse to advise them on a bankruptcy strategy to protect themselves from lawsuits. The total cost of BP's liability is based upon exactly how much oil has spilled, which is why BP has been deceptive in their estimates. A worst-case estimate by Goldman Sachs, using the Exxon Valdez as a reference, puts BP's liability at between $198-$398 billion by the end of the summer. Before the spill, BP's assets were $241 billion with liabilities of $136 billion, resulting in net assets of $105 billion. This means that, by the end of the summer, BP's liability may exceed the value of the company. I don't think anyone wants to buy BP, as I think that means they will assume their liability. But the sharks - Exxon, Shell, etc - are definitely circling, and if and when BP declares bankruptcy they will steer themselves into BP's bloody carcass and bite off what they can from the bankruptcy sale. "Obama talks, but he doesn't do, he talks, but he doesn't do, he talks, but he doesn't do" - Mary Matalin on CNN today This problem can't be solved politically. It can't be solved with speeches, or hearings, or lobbyists, or blame. It will be sixty days this Friday that this oil is leaking, TODAY, and this government has been completely unresponsive. Every day is a new day, a new opportunity for the government to take action to stop this spill and protect the environment from oil. And every day, nothing really happens.
Another investment opportunity may exist in those stocks that fell sympathetically with BP. XOM, for example, is trading not far from it's 52 week low.
I see little chance BP will survive in its present form. If they could start delivering on some of their promises, they could be survivors... drill baby http://www.commondreams.org/headline/2010/03/31