I thought it takes a board to say yes or no about the Dividend next dividend payout was next Monday can shareholders sue?
This was so obvious, how could anyone possibly think that they weren't going to suspend their dividend.
People voted for Generalissimo Bush twice and then for McSame and Failin' with Palin. Don't underestimate the power of stupidity in America.
BP has reincorporated in the Washington state. Chairman Pelosi didnt think the dividend was the correct financial decision going forward
Maybe next time shareholders (owners of the company) who should have seen this coming (BP has a poor record of cutting corners, safety violations) would have made a stand to get rid of this CEO and lame board. But since the BP shareholders never bothered to read the proxy, vote or make their voice heard, they should not be upset now that the shit hits the fan. Next time be a bit more interested in the company you own and be a little more proactive next time.
In all fairness to those that thought they would get a dividend it was only days away from being paid out and was voted on. They also voted not long ago to say they were not going to suspend it. going forward I think it becomes pretty clear the dividend was in danger of being cut. Obama must have given one hell of a deal to BP to get them to take the route they did. I suppose with his political career on the line it was not a hard choice for him to make a deal that would publicly make him look strong. There is another way to get a great yield with probably a little less risk. the BP bonds are paying a yield but like everything, you better know what your doing before doing it. Best Robert