They have about a month before they declare Chapter 11. They’re going to run out of cash from lawsuits, cleanup and other expenses. One really smart thing that Obama did was about three weeks ago he forced BP CEO Tony Hayward to put in writing that BP would pay for every dollar of the cleanup. But there isn’t enough money in the world to clean up the Gulf of Mexico. Once BP realizes the extent of this my guess is that they’ll panic and go into Chapter 11.John Carney writes:
I'm worried people could seriously be underestimating BP's liability for spill. $20 billion per year revenue might nit be enough.I have nowhere near the expertise to evaluate the cleanup costs, the damages and the legal exposure that BP faces. But there is huge money to be made by anyone who can put the team together to evaluate and correctly understand the situation.
At its current price of $29.00 per share BP is trading in a kind of middle ground. If the company goes bankrupt, we are obviously talking about a low single digit stock price. If BP survives without bankruptcy, then the company is probably very undervalued at its current price. Superior knowledge and understanding makes big money here.
The Russians would solve this thing in 2.5 seconds. Nuke the bitch. Obama is a pussy.
ReplyDeleteAnon,
ReplyDeleteThe "Russians" (aka the Soviets) were a bunch of commies. They destroyed their natural environments, all in the name of destroying their economy.
I am not sure why you or anyone else continues to tout the Soviets as an example of how to do anything but destroy things.
@Taylor
ReplyDeleteUmmm...okay! What does that have to do with using a nuclear weapon as a tool to stop the oil leak? Sounds like you've perfected the art of ad hominem attacks.
If the Russians know how to stop an oil leak with a nuke, let them do it. But, according to you, we should let the oil keep flowing, not because the idea wouldn't work, but because they're "Soviets" (they fell in '92 btw).