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Kicking BP while its down

Ben90 said:
BP only has MEDIOCRE stock
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Yeah, but this is probably the lowest it will ever be without another major incident, and they will guaranteed bounce back. If you have the money to invest and can wait it out a while, it has some very good potential profits with little risk.
 
deadlyapp said:
Yeah, but this is probably the lowest it will ever be without another major incident, and they will guaranteed bounce back. If you have the money to invest and can wait it out a while, it has some very good potential profits with little risk.
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that was a multi-thread joke... or at least i hope it was
 
when BP goes bankrupt and dissolves before paying a single cent over the spill, I'm going to blame everyone who boycotted BP.
 
theflyingpig said:
I'm buying up their stock as fast as my paychecks come in. But you guys can still keep thinking that BP is going bankrupt.
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They have a lot of assets and all, but they also have to pay out all of the legitimate lawsuits relating to the oil spill. Do you have any idea how many businesses along the coast could file a legitimate claim against BP with the US court system? I don't think it's out of the realm of possibility for every hotel along the coast to hit them with yearly bills because people have chosen not to go to the coast because they think it's polluted by oil. Not to mention, if Obama does what he says (I think this is extremely unlikely) and makes BP actually pay the full cost of the cleanup, they've added thousands to tens of thousands of employees to their payroll for the next 10-20 years who do nothing profitable.

Personally, I'd avoid buying their stock until a better idea of the cost of what they're going to have to do and pay out in the future is determined.
 
mrjminer said:
They have a lot of assets and all, but they also have to pay out all of the legitimate lawsuits relating to the oil spill. Do you have any idea how many businesses along the coast could file a legitimate claim against BP with the US court system? I don't think it's out of the realm of possibility for every hotel along the coast to hit them with yearly bills because people have chosen not to go to the coast because they think it's polluted by oil. Not to mention, if Obama does what he says (I think this is extremely unlikely) and makes BP actually pay the full cost of the cleanup, they've added thousands to tens of thousands of employees to their payroll for the next 10-20 years who do nothing profitable.

Personally, I'd avoid buying their stock until a better idea of the cost of what they're going to have to do and pay out in the future is determined.
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http://www.investorguide.com/stock-charts.php?ticker=XOM
exxon doing ok it seems.
like it or not oil is required, everyone needs it, no one can really boycott you, someone else will just buy it. exxon payout after many years of litigation was insignificant to their total worth/profits.
 
0roo0roo said:
http://www.investorguide.com/stock-charts.php?ticker=XOM
exxon doing ok it seems.
like it or not oil is required, everyone needs it, no one can really boycott you, someone else will just buy it. exxon payout after many years of litigation was insignificant to their total worth/profits.
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This is true, but this spill is bigger and (I think) a lot more people and businesses are affected by it, aren't they? Just a guess, but there's a lot more people/business using the gulf than the coast of Alaska.

I'm with you on oil not going away in the near future, I just don't think BP's future is as solid as flyingpig thinks. My uneducated guess is that their stock continues to plummet and Exxon or Chevron buys them for their assets.
 
Hmmm........ I think I'll put 100$ in at some point. Just for the hell of it, haha.
 
GodlessAstronomer said:
It's easy to underestimate just how much money this company has. They'll get out of this just fine.
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Sadly, this is true. What should happen is that some of their execs and mgmt should go to jail over this, and they should both be heavily fined and should lose their right to do business with the US (and with US corporations).

From their actions so far, my guess is that they're going to try to fight against every cent they will be required to pay out in fines, court fees, etc.
 
Kadarin said:
Sadly, this is true. What should happen is that some of their execs and mgmt should go to jail over this, and they should both be heavily fined and should lose their right to do business with the US (and with US corporations).

From their actions so far, my guess is that they're going to try to fight against every cent they will be required to pay out in fines, court fees, etc.
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I agree. The government should pull every single BP oil lease and sell it to someone else.

I have no doubt that BP will try some "accounting tricks" as well as a few legal manuevers to pay as little as possible of the various fines and lawsuits.

It may take a while, but, just like Exxon and the Valdez disaster, BP will come out of this smelling like a rose...(and no one will go to jail)
 
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