First GS, then JPM, what is the next guess? There are around 15 other major ibanks left. Keep on guessing...I find it entertaining.
I was not kidding. If those demands coming out of the US are to be taken seriously, it makes a lot more sense to just fuck the new continent and leave. One other poster mentioned 1/3 of BP's balance sheet being in the US entity, which is a gross overstatement.
Wouldn't matter if they did. The US government is not getting the usual royalties from deep water production, so US doesn't especially benefit if they stay. Oil is a global market. If BP leaves USA, they sell their oil elsewhere... US buys its oil elsewhere... all part of the same pool.
Exactly! The US government(Obama) is just positioning itself for the vote. If the oil that is currently being pumped out into the gulf was such a major problem then it would be stopped immediately. The truth is, the US government doesn't give a flying f*ck about anything that doesn't produce. Wildlife....!!!??? Who gives a f*ck!? Fishermen...!!!??? Eat f*ckin beef d!ckheads!
Good call! I'm buying BP, wall street is buying BP, every f*cker on the planet is buying BP. You know why? Nobody gives a flying f*ck about the southern states, but everyone wants the money. This is trading, this is the real face of the markets.
How is the parent company liable for the bill? Subsidiaries are limited liability companies, and US judges generally don't have authority over foreign companies operating outside US territory. Legal liability is not determined by which exchange your stock is quoted on. Do you think some Chinese steel maker is liable to US damages if it trades on NYSE despite having no operating presence in N America?
BP GENERATES OVER 30 BILLION DOLLARS A YEAR IN PROFITS. IT RE-INVESTS 20 BILLION A YEAR IN ITS BUSINESS AND PAYS 10 BILLION A YEAR IN DIVIDENDS TO SHARE HOLDERS. BP HAS EQUITY ON THE BALANCE SHEET OF 104 BILLION BUT ONLY 24 BILLION IN DEBT. WITH SUCH A LOW RATIO IT HAS ROOM TO MORE THAN DOUBLE ITS DEBT LOAD. BP ALSO HAS 8 BILLION IN SPARE CASH TO COVER IMMEDIATE EXPENSES RELATING TO THE OIL LEAK. IM NOT TAKING UP FOR THESE IDIOTS BUT THEY WONT GO OUT OF BUSINESS OR EVEN BANKRUPT. ONCE THE RELIEF WELLS ARE FINISHED AND THE OIL STOPS THE SHARE PRICE WILL LIKELY GO UP BIG. ANYWHO IF YOU WOULD LIKE TO DAYTRADE BP HERE IS THE NUMBERS ( bp go long@ 33.65 - stop loss@ 30.60 if the stock goes up to 33.65 within the first half hour wait for a pull back then enter then put your stop loss in. when it gets to 34.50 go break even(new stop loss) look for 2.5%-7.0% gain. As volitile as the markets are 2.5% gain sounds logical do this trade for monday 6-14
The cap is 75 million and I assume that is the cap of fines by the federal government but who exactly? The federal government is composed of branches that fall directly under their control however agencies exist which have semi-autonomy the ability to create administrative laws and issue fines(i.e epa). So is this a way to circumvent the cap? I am not an attorney neither are most of the people on this forum; so much of the discussion regarding legal fees is speculation. But rest assured we can expect vindication from the government and massive lawsuits; everyone is going to be after BP for their share of the pie. A billion has already been spent and countless more will ensure. People are clamoring about their dividends and profits; but a company who had bled a billion in a month due to one of the world's largest oil spills created by their negligence is to me not an attractive prospect right now. Exxon recovered from the spill but PeMex the source of the LARGEST oil spill of the past century not including the burning of kuwaiti wells of all time did not. I still think BP will recover they have a ton of cash and income but I am going to wait until the spill has been stopped and the fallout is declining.
The US is making a big fuss about some f*cking oil leaking out!! And yet they play down the biggest financial disaster in history like it's nothing!! I guess the tax payer can't physically get down to the southern states and clean up the mess!!?? What about the protesters!? I'm sure them gas consuming b*stards all sleep well at night!?
I was taught that there is no such thing as a dumb question. This one appears to be somewhat obvious to me but I am sure there are things that are obvious to you that I would question as well. Yes, as a general rule you can count on multinationals to incorporate in each different country and often divide it up from there with holding companies etc.... The media as usual has made a 100lb gorilla into a 1mil lb gorilla. Its bad. its really bad. but it is not BP going away bad in my opinion. If someone can show HOW legally the assets other than what is in the US can be tapped into I will gladly stand corrected. It would appear to me that getting a London court to hand over the retirement of so many people and send the British economy into the toilet would be at the least a challenge. I am net long BP but I wouldn't be if I didn't believe what I am saying.