SC cuts Exxon Valdez judgment form $2.5 billion to $500 million

[liberal N proud]

Court cuts judgment in Exxon Valdez disaster
From the Associated Press
7:24 AM PDT, June 25, 2008
WASHINGTON -- The Supreme Court on Wednesday cut the $2.5 billion punitive damages award in the 1989 Exxon Valdez disaster to $500 million.

The court ruled that victims of the worst oil spill in U.S. history may collect punitive damages from Exxon Mobil Corp., but not as much as a federal appeals court determined.

Justice David Souter wrote for the court that punitive damages may not exceed what the company already paid to compensate victims for economic losses, about $500 million compensation.

http://www.latimes.com/news/nationworld/nation/la-na-valdez26-2008jun26,0,3673626.story

[Liberal In Texas]

1. Punitive damages are supposed to keep them from doing it again.

And to warn other companies that they can't get away with this. $500M is chump change to Exxon/Mobil.

[spanone]

2. another mission accomplihed

[indepat]

3. Jesus, $500 million would eat away four, maybe five, days of Exxon's profits:

are the Supremes trying to put Exxon out of business? :shrug: :D

[Blue_In_AK]

4. The punitives were already cut from $5 billion

to $2.5 billion. This is just a horrible, horrible decision for the Alaska fishermen, but I can't say that I'm surprised. Everybody knows that Exxon and their profits are more important than real people who suffered real and lasting damages. Fuck, fuck, fuck.