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

naseby_2

BP is run by cowards. the decision to cancel this years' dividend is an attempt to appease a bullying, sanctimonious demogogue. anyone who had a punt after the explosion will now suffer massive losses and the share price will not recover for at least 18 months.
(in case anyone thinks i'm bitter - i actually sold my BP shares 2 weeks before the disaster. 6.55/share. but even i feel sorry for those who own them now)

1echidna

OK Obama has acknowledged that bp is an important company and he expects it to survive. The question is how the US courts, states and individual claimants will behave. It could be very ugly and I feel it is improbable that Obama has a way of stopping what he has started.

1echidna

No sign of Hayward being "sliced and diced" yet. True he may be rather defensively "kicking the can along the road" as one senator described it, but his approach seems to me to be appropriate. How America can think that this kind of circus, starting from a political imperative that BP is to blame, is the best way to determine the lessons of this disaster is beyond me.

StevieJ

fairtrade wrote: »

We are still paying off the debt incurred by loans in the First World War. The economy couldn't survive if these debts were called in.

I thought even the WWII debts were settled a couple of years ago.

StevieJ

1echidna wrote: »

OK Obama has acknowledged that bp is an important company and he expects it to survive. The question is how the US courts, states and individual claimants will behave. It could be very ugly and I feel it is improbable that Obama has a way of stopping what he has started.

The 'Owt for Nowts' will be out in force :eek:

Sceptic001

Hayward is in an impossible position but is coming across very poorly. BP should have hired George Galloway to give the grandstanding politicos a run for their money!

ceebeeby

Personally, I thought his demeanor, body language and vocal tone were appropriate for the setting.

I am so not anti-America (and thank them vociferously for Mickey Mouse and Ghiradelli Chocolate), but I didn't 'get' how the meeting could in any ways be termed "investigative" when it was nothing more than a further barrage of accusations and some unproven facts. It was almost like a public trial.

I felt very sorry for the woman protesting, she was clearly exceptionally distressed, but it did scare me that she acted in that way knowing the world was watching! It did cross my mind whether she had a gun (I've clearly watched too many movies!!!)

amcluesent

The excerpt I saw some harridan was asking hugely involved questions, Hayward says 'no', she then says 'so you're agreeing!'. Pathetic demagoguery and grandstanding by know-nothing politicians whose "insights" will be wrapping tomorrows fish'n'chps.

Thrugelmir

StevieJ wrote: »

I thought even the WWII debts were settled a couple of years ago.

In 1917 to pay for the Great War a gilt was issued. £2 billion was raised (£53 billion in todays money) from the British public. The gilt carried a 5% coupon. With an envisaged redemption date between 1929 and 1947. However in 1932 to cope with public finances during the Great Depression the interest rate was slashed to 3.5% and the redemption date cancelled.

The stock is now fondly called the 3.5% War Loan Stock which perpetually rolls on and on.

amcluesent

Having Hussein Obama ranting and raving made me look into how he'd become President 'from nowhere'.

Just Google 'Obama Soros oil'!

Seems Obama is bought and paid for by George Soros (of breaking the Bank of England fame) who recognised the Marxist, West hater in Omaba and bought him the Democrat nomination. Now Obama is Soros' poodle and jumps to his every command. The command now is to break BP and ensure that Brazilian oil (in which Soros has a huge investment) get the USA business!