This Letter Is The Reason Matthew Simmons Is Embarrassed By And Resigning From Simmons & Co

The Business Insider ^ | 6-16-2010 | Courtney Comstock

[blam]

This Letter Is The Reason Matthew Simmons Is Embarrassed By And Resigning From Simmons & Co

Courtney Comstock
Jun. 16, 2010, 1:56 PM

Image: AP,P> Simmons & Co and Matthew Simmons are ending their feud with a divorce: Simmons is resigning from the company he founded.

It all started when Simmons & Co sent a letter to investors saying that the company didn't agree with what its founding father's negative views on BP about a month ago.

(The letter is printed after the jump.)

Then Simmons & Co upgraded BP to a buy on Friday. (Check out their analyst research on Dealbreaker.)

And then Simmons announced that he's resigning, today, from his old company.

To: All
Sent: Wed May 12 15:37:30 2010
Subject: Simmons & Company Views and Clarification

Recent tragic events in the Gulf of Mexico have led to a period of collective introspection for the industry as well as a surplus of opinions. And sadly, the forensic evidence associated with this tragedy is far from complete and will likely take several months to assemble in order to formulate a more complete and informed narrative.

This is a highly-charged environment, as well as an exceedingly fluid one, as the prospects for abating the blowout and mitigating the spill are opaque. All of us are trying to better understand the cause and effect of the tragic blowout in the GOM and the implications for the upstream industry, especially as they relate to energy policy and the regulatory framework in the GOM.

Accordingly, we wish to remind industry participants, as well as our clients and friends, that the views of Simmons & Company International are separate and distinct from many of those being currently expressed by our good friend, founder and former Chairman, Matthew

[snip]

[blam]

Simmons is the guy who has been saying 'end-of-the-world' things about the Gulf oil spill.

[blam]

Matthew Simmons: The Relief Well Will Fail, And An Undersea Oil Lake May Be Covering 40% Of The Gulf

[Pessimist]

Is it just me, or does that guy look crazy?

[MNDude]

I guess he’s getting too old to do fitness videos for fat women.

[Drill Thrawl]

I hit that one yesterday. According to him that puts 4 QUADrillion bbls in the GOM. By contrast the Saudi's have a little less that 300 billion.

Gotta be an EMOcrat to be that stupid.

[bamahead]

LOL...That’s RICHARD Simmons ;)