first time Ive seen this headline: 'Oil spill may signal end of BP'

[Mari333]

There are predictions the massive oil spill in the Gulf of Mexico could spell the death knell for BP.

Shares in the oil company fell by 13 per cent overnight, wiping another $22 billion off its value.

BP has now shed $77 billion, or a third of its value, since the Deepwater Horizon oil rig exploded six weeks ago.

Oil analysts in London now believe the combination of the continuing leak and the prospect of high legal costs and political damage in the United States could signal the end of the company.










http://www.abc.net.au/news/stories/2010/06/02/2915604.htm

[Hawkeye-X]

1. And the DU'er that bought 300 stocks of BP in an attempt to short...

will be very poor.

(I know who it is, but will not reveal the name)

[Ian David]

6. Me neither, but one could google it

Results 1 - 10 of about 1,770 from democraticunderground.com for bought BP stock at a low. (0.14 seconds)
http://www.democraticunderground.com/searchresults.html?domains=democraticunderground.com&q=bought+BP+stock+at+a+low&sa=Search&sitesearch=democraticunderground.com&client=pub-7805397860504090&forid=1&ie=ISO-8859-1&oe=ISO-8859-1&cof=GALT%3A%23008000%3BGL%3A1%3BDIV%3A%23336699%3BVLC%3A663399%3BAH%3Acenter%3BBGC%3AFFFFFF%3BLBGC%3A336699%3BALC%3A0000FF%3BLC%3A0000FF%3BT%3A000000%3BGFNT%3A0000FF%3BGIMP%3A0000FF%3BFORID%3A11&hl=en

[LeftyFingerPop]

7. "Attempt to short" ??

If he sold the stock short at $50 for 300 shares, and rides it down to zero, he will make $15,000.

[Cali_Democrat]

21. You mean the person went long the stock

Shorting the stock means you profit from a decline in the price. Going long a stock (buying the stock) means you lose money when the price goes down.

[CaliforniaPeggy]

2. It could not happen to a more deserving company...

It'll still need to pay for the damages.

[Swamp Rat]

3. Hope Springs Eternal!!!

[dixiegrrrrl]

22. You must have incredible dreams at night, Swampy.

Judging from the stuff you produce during the day.:evilgrin:

[beyurslf]

4. And rightly so.

Other companies should know if you devastate the environment and create catastrophes, you will not be punished--you will be bankrupted and jailed.

[90-percent]

5. But, on the other hand

Think of all the money they saved by scrimping on safety equipment!

I hope that managers that made all the calls that created this disaster get to keep their "on-time" bonuses.

-90% Jimmy

:sarcasm:

[laughingliberal]

13. +1000 nt

[WestMichRad]

8. Follow the money

Would be interesting to see what investors are shedding these stocks.

I could easily believe that BP board members and executives are among those bailing out while the stock still has some value.

[TexasObserver]

9. I think BP could get taken under by this.

This gusher is BP's equity, spewing out, never to return.

[emulatorloo]

10. Yep this could be the end of them

[TexasObserver]

11. They've been world class jerks a long time.

They have long practiced "he who has the gold makes the rules."

[mdmc]

12. All the BP bigwigs will get golden parachutes and work for Exxon

[City Lights]

14. So there is hope after all.

I'll keep the champagne on ice, just in case.

[monmouth]

15. What if they file for some sort of bankruptcy, would their obligations

to pay for the damages and cleanup go away? I put nothing past these scum and I'm convinced under my tinfoil hat that they talk to Cheney on a regular basis.

[Paper Roses]

16. I think you have something there. Didn't Darth head the Energy

task force early on during the **** administration?

Actually, I can't remember what the group was called but I believe the set Energy policy.
I wonder how much policy was set for protection and safety?

This whole thing makes me so sick...and angry.

[monmouth]

17. He sure did and those meetings were held in secret. I'm sick and angry also...n/t

[kelly1mm]

20. The real question is not how much BP is worth via stock price (which

is a measurement of their assets and projected income stream) but rather what are their assets worth if liquidated today. Probably not enough to pay for the damages they caused already. If you add in Transocean and Haliburton you may have enough to cover the costs but I don't know. At some point a business decision is going to be made to just fold up the tents and file for bankruptcy. I think this may be why the administration has not been as forcefull as some have wanted.

[unblock]

18. you would think at the very least it would be the end of the bp BRAND

they could carry on as oiltria or something.

[PufPuf23]

19. This is why BP America should go into immediate receivorship

and all assets frozen and technical/scientific personnel on the payroll.