BP - off the hook ? ...and a BUY ?

worldtraveller

Yakubu22 wrote: »

balls, missed the boat -again.

I think that boat could well be returning before too long!

Masomnia

worldtraveller wrote: »

I think that boat could well be returning before too long!

Definitely. I jumped aboard a little too soon! Could easilly fall back again.

sabretoothtigger

Fair value estimate cut to 485p.
http://www.morningstar.co.uk/uk/news/article.aspx?articleid=89696&categoryid=5&refsource=dailynewsletter&lang=en-GB


To me that seems wrong for 5 or 10 year view but its a measure of the markets general view I guess


Peter schiff mentions BP in the second half of this video and how its generally bad for investment in usa
http://www.youtube.com/watch?v=m4OCIX-rzXg


BP estimate 6bn just on cleanup
http://www.reuters.com/article/idUSTRE65A35G20100611?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29&utm_content=Twitter



Short term resistance
http://img693.imageshack.us/img693/4807/img12762697821105980978.gif

Long term some support from hitting the bottom of the barrel (much like the euro, etc)

Thrugelmir

Decision on dividend policy to be announced Monday. Company obviously feel that has to be brought forward to provide stability to the share price.

Old_Slaphead

Just heard some 'big shot' lawyer saying he's bringing a class action on behalf of some shareholders to recover losses caused by the reduction in value of shares - adding that it might be a good thing if company went under.

Sounds a real nice bloke. Reckons BP will cop for £50bn (hopefully other stakeholders will chip in with 35%)

Where was he when Lloyds shareholders needed him ?

Old_Slaphead

sabretoothtigger wrote: »

Fair value estimate cut to 485p.
http://www.morningstar.co.uk/uk/news/article.aspx?articleid=89696&categoryid=5&refsource=dailynewsletter&lang=en-GB

Bit of transposition there (or optimism) - it's 458p

amcluesent

Bellicose Americans think that having lawyers in the loop for everything shows their strength. I think it's a signal of end-of-empire for the USA.

Anyhow, no-one has yet pointed out that the Founding Fathers anticipated a charlatan and popinjay becoming President. The Constitution is very clear "...nor shall private property be taken for public use, without just compensation". Seems that all of Obamalamadingsding's grand-standing about seizing BP from its owners on his say-so flies smack-bang into the Fifth Amendment. Him being as lawyer and all, you'd think he'd know that...

Thrugelmir

Old_Slaphead wrote: »

Just heard some 'big shot' lawyer saying he's bringing a class action on behalf of some shareholders to recover losses caused by the reduction in value of shares - adding that it might be a good thing if company went under.

Sounds a real nice bloke. Reckons BP will cop for £50bn (hopefully other stakeholders will chip in with 35%)

Where was he when Lloyds shareholders needed him ?

Some Lloyds shareholders are after AD, the Treasury, the CEO and Chairman of Lloyds already. The contention being that the Governments loan of £25 billion to HBOS was not disclosed at the time the merger was presented to shareholders. Without the loan HBOS would have folded as it would have been in breach of capital adequacy requirements.

Sceptic001

BBC is now reporting that BP will announce suspension of dividend payment next week.

StevieJ

A good point ans good article.

As it happens, Obama should be thanking his lucky stars it was a company as solvent as BP that was responsible for the accident, and not one of the many smaller independent firms that operate in the Gulf. Otherwise it would be the US taxpayer, and not international investors, who would be footing the bill.

http://uk.finance.yahoo.com/news/gulf-of-mexico-oil-spill-the-gun-slingers-have-bp-in-their-sights-tele-4fc8cd50357c.html?x=0