BP could freeze shareholder payout for three years, say City experts

DuaneBidoux

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Mon May-24-10 11:17 PM
Original message

BP could freeze shareholder payout for three years, say City experts

Source: Times Online (UK)

The soaring cost of the oil spill in the Gulf of Mexico could force BP to freeze its payout to shareholders for up to three years, City experts said.

Britain�s second biggest company said that the bill to control the leak had increased by more than 20 per cent in the past week to $760 million (�526 million), up from $625 million on May 18.

Read more: http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article7135483.ece

Here's my idea:

Fuck the shareholder. Obama says you have ten days to plug this son of a bitch. For every day beyond that the US government seeks 1 year in prison time for BP executives.

I don't know that it would get fixed but I guarantee you they'd try harder.

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dixiegrrrrl

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Mon May-24-10 11:27 PM
Response to Original message

1. It seems the speeding things up is what caused the problem in the first place.

Damned if ya do, damned if ya don't.

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cstanleytech

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Mon May-24-10 11:37 PM
Response to Reply #1

4. That and their stupid/greedy decision

not to install that remote kill switch thing.

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Nihil

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Tue May-25-10 07:57 AM
Response to Reply #4

12. Aww ... how cute!

Someone who still thinks that the "remote kill switch thing" meme
is worth mentioning! Isn't that sweet?

Let me guess: you probably think that most other rigs in the Gulf
have these magical switches that would have saved the world even
though your government decided not to make them mandatory?

:patriot:

Hell, I bet you also think that if BP had been that altruistic
as to fork out for something that no competitor bothered with,
this "remote kill switch thing" would have somehow have fixed
the broken valve - you know, the one that couldn't even be closed
manually by submersibles at the site ...

:rofl:

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RandomThoughts

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Mon May-24-10 11:29 PM
Response to Original message

2. There was a huge attempt to make all penalties monetary for corporate types.

So that the amount of money you can spare determines justice. And to make the world a money world.

There should be jail time as part of enforcement in every sector if something is shown to be criminal after a fair trial.

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aquart

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Tue May-25-10 12:04 AM
Response to Reply #2

5. Yes.

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cstanleytech

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Mon May-24-10 11:36 PM
Response to Original message

3. Soo tempting, sadly though I dont think obama has that kind of authority under the constitution.

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aquart

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Tue May-25-10 12:04 AM
Response to Reply #3

6. What authority does he have? And when will he use it?

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cstanleytech

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Tue May-25-10 12:50 AM
Response to Reply #6

7. The one about sending them to prison for a year, he cant threaten them with that.

He could of course ask congress to pass such a law or ask those in law enforcement like the fbi and other federal angencies to enforce current laws but I dont believe he can just cant outright order there imprisonment.
Mind you, I'm not a lawyer so I could very well be mistaken.

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happygoluckytoyou

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Tue May-25-10 02:05 AM
Response to Original message

8. they still get BONUSES.... it is just paid in tarballs ! ! !

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leveymg

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Tue May-25-10 03:44 AM
Response to Original message

9. There's a $1000/bl EPA fine to pay. That's about $30 billion, so far.

Yes, they'll have to freeze their f-cking shareholder payouts.

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ima_sinnic

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Tue May-25-10 03:57 AM
Response to Original message

10. oh boo hoo -- I hope their shares become worthless

"investing" in destruction of the planet -- gee, that's brilliant.

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western mass

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Tue May-25-10 05:36 AM
Response to Original message

11. how long are they going to freeze executive pay?

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