Skip to comments.BP to Stop Dividend, Curtail Exploration to Finance Spill Fund [Obama wrecks another industry]
Posted on 06/16/2010 4:31:50 PM PDT by the invisib1e hand
Halting the $10 billion-a-year dividend, reducing investments in drilling and selling oil and gas fields will do enough to ensure the companys financial stability, Chief Financial Officer Byron Grote said today. Credit swap contracts before the announcement showed investors pricing in a 39 percent risk of default within five years.
This move protects the long-term [blah blah freaking blah]"
Oh, and just where are the BP Board of Directors and shareholders in all this? Methinks this is all posturing by Onada. BP is playing the game for the time being. But when it finally gets a handle on its runaway well, I think it will reassert itself. If it does not, it deserves every bad thing that happens to it.
Welp. IMHO, BP pussied out and gave in to BO and his slimey friends. As far as I am concerned(not that it makes a hill of beans difference) BP can go straight to hell.
Also the Wednesday, 6/16/2010 Speech after the BP Meeting ...
I agree, there are some very strange things going on. There need to be a serious investigation into this entire deal. It won’t happen until after November, if then, but it has to happen because this entire thing is too screwed up.
Please don’t misunderstand. I’m no BP fan. I’m elated that I have no stock in the company. But, I think at this point BP is just playing Onada like everyone else in the world political and economic scene. The Marxist Usurper is in way over his head.
Surely a question being asked by more of us each day.
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