I hope BP (NYSE:BP) doesn't cave on the dividend issue, as the Chicago thug gang now inhabiting the White House have nothing to say about that, and to imply BP can't pay their obligations implies they're going to continue to push obligation on BP which they have no right to.
The most obvious one is the moratorium by Obama in the Gulf which is wreaking havoc on the region, and now instead of owning up to it being a huge mistake, is trying to make it look like it's because of BP, rather than his response to the oil spill.
Now Obama and his cronies are trying to push for BP to have to pay for the lost wages of workers in the area who Obama through out into the street.
While most people couldn't care less about the dividend, Obama and the Democrats, for whatever misguided reason, think they have some type of winning issue here, seemingly using similar tactics they used in the banking crisis.
Many people will be hurt by cutting the dividend, especially those regular workers whose pensions count on it.
13 comments:
BP Needs to divert it's Dividend amount to clean up the mess it created with oil spill, compensate the families are affected, save some amount for lawsuits it's going to get, and then if it has anything left, then they can distribute among the stock holders.
Count yourself among the clueless. BP doesn't need to divert its Dividend to pay for the clean up because it has enough cash, cashflow and bank lines to pay both, 20 x over. Get a grip.
As soon as you are elected to the board of directors of BP your opinion will count. Understandf the facts before shooting your mouth off! BP has more than sufficient resources and options to handle this mishap even if there is no insurance to call on.
Obama has no business telling BP how to run their business. He has already nationalized the US auto, banking and health care and is now trying to tell a foreign company how to manage their cash flow. If they commit to bear their fianacial responsibility and have the resources to do it, then they should be able to continue their dividend payments if they choose to do so.
Obama has every right to tell BP what to do. He is the chosen one. I repect Obama and what he is trying to do to help the people.
I am well aware of data of BP for last 3-4 Yrs, Ground reality is BP seems clueless, spill may work out probably in coming days/months. However the damage has already done.
Let's don't forget that BP is the one which didn't follow the series regulation for off shore drilling, also not transparent till day on oil spill . Right now it is bleeding oil, and fact the fact is American People are suffering. One can't just get away by hving some pile of $$ amount, responsibilities and ethics count, my friend.
When Nancy Pelosi accusses BP
of "lack of integrity",you can imagine the politics behind the issue.She doesn't know how to spell integrity.
Nothing but misrepresentations and cover ups are coming out of the Obama White House.
Instead of forming all the committees and expert groups to investigate BP,investigate the Administration's motives behind the "kick butt" comment of our President.
I for one am not a fan of socialism or communism (in reality, though it's interesting in theory). Gov needs to keep their grubby mitts off and let BP do what BP knows how to do. Make Money. In itself, it won't fix the damage, but it will at least make repairs possible.
"Obama through out"
THREW
I keep looking at BPs fundamentals on Scott Trade. A couple of things are obvious to me. Our president is clueless about business and economics which isn't good for the country or world.
If I was a betting person, I would say that He is playing to the camera because of all of the early criticism.
BP paying lost salaries of the workers laid off because of the moritorium. Get real. BP isn't the one that sent them home without pay.
Lastly, if BP meets their obligations then what they do with the rest of their cash is none of the presidents business.
BTW he has conveniently forgotten to mention all of the pensions in the United States that will get hammered by his attempts to bully BP.
"Obama through out"
I bet you voted for him,are a goverment worker or Barack is sending you a check every month.
The problem is he is getting in my pocket for your check.
Additionaly he is trying to get into BP's pocket to cover some part of his economic screw ups.
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