OT- Obama’s pissed now

[Allan from Fallbrook]

[quote=flu]

Brian. I think you have it backwards. If any reshuffling is going to occur at BP, it’s going to be

1)Creating a BP USA and separating it from BP international…

2)Having BP international assume the very profitable international businesses with the nicest assets.

3)Sticking BP USA with the liabilities of the Gulf…

BP doesn’t really need to do anything creative with it’s reorg…Namely, because there are plenty of companies beforehand that can already provide them with a playbook, or two, or three.[/quote]

FLU: BP already has an American operation that is a complete standalone: BP North America. While it answers to BP London, it is a self-contained operating unit.

And before anyone gets overly pumped up about “a legally bankrupt entity”, it isn’t going to happen. What will probably happen is that BP will sell one of its components, either upstream or downstream. BP is what is known as a fully integrated oil company, meaning it does everything from extract to refine. If it does spin off an operation, it also won’t be going to a Chinese company, I can guarantee you that.

All of the big supermajors learned about containing liability after the Exxon Valdez spill. Using that as an example, ExxonMobil now breaks up all the different parts of the shipping operation, from the vessel to the fuel, and disperses the liability through various subsidiaries, leased operations, etc.

While BP was completely unprepared for dealing with the spill, their attorneys are fully prepared for the liability.

[paramount]

I hear there may be a gas bubble of some type forming around the area of the stack.

[paramount]

I hear there may be a gas bubble of some type forming around the area of the stack.

[paramount]

I hear there may be a gas bubble of some type forming around the area of the stack.

[paramount]

I hear there may be a gas bubble of some type forming around the area of the stack.

[paramount]

I hear there may be a gas bubble of some type forming around the area of the stack.

[Shadowfax]

[quote=meadandale]I’d like to see Obama and his administration continue to ‘go off’ on BP and villify them. If their stock price continues to dive they’ll end up filing for bankruptcy. When Obama gets stuck with the cleanup bill because he’s driven BP out of business…it should get interesting.[/quote]

Huh-what? How did Obama drive them out of business and into bankruptcy?

I think they should ultimately go out of business for what happened under their watch. This is one of the biggest environmental disasters of our lifetimes. And there is ample evidence that they took a lot of shortcuts which are related to the spill (I won’t go so far as to say “caused”).

If they actually commit to paying for a real cleanup, I don’t see how they can stay in business. But the best we can hope for is that Obama or someone in power makes them pony up a superfund now (in real dollars, and with continued future payments into it) for all the cleanup that will need to be done for the next 10-20 or more years. It will be devastating environmentally so they could save a few thousands when they failed an inspection and bribed the inspector.

I highly doubt anyone will be able to force the money out of them. They’ll beggar off the cleanup, claim their assets are depleted and will then move their operations into some affiliated corporate shell or subsidiary and continue business as usual. It’s disgusting. I am more outraged about this than welfare fraud to the tune of $17k a year…

[Shadowfax]

[quote=meadandale]I’d like to see Obama and his administration continue to ‘go off’ on BP and villify them. If their stock price continues to dive they’ll end up filing for bankruptcy. When Obama gets stuck with the cleanup bill because he’s driven BP out of business…it should get interesting.[/quote]

Huh-what? How did Obama drive them out of business and into bankruptcy?

I think they should ultimately go out of business for what happened under their watch. This is one of the biggest environmental disasters of our lifetimes. And there is ample evidence that they took a lot of shortcuts which are related to the spill (I won’t go so far as to say “caused”).

If they actually commit to paying for a real cleanup, I don’t see how they can stay in business. But the best we can hope for is that Obama or someone in power makes them pony up a superfund now (in real dollars, and with continued future payments into it) for all the cleanup that will need to be done for the next 10-20 or more years. It will be devastating environmentally so they could save a few thousands when they failed an inspection and bribed the inspector.

I highly doubt anyone will be able to force the money out of them. They’ll beggar off the cleanup, claim their assets are depleted and will then move their operations into some affiliated corporate shell or subsidiary and continue business as usual. It’s disgusting. I am more outraged about this than welfare fraud to the tune of $17k a year…

[Shadowfax]

[quote=meadandale]I’d like to see Obama and his administration continue to ‘go off’ on BP and villify them. If their stock price continues to dive they’ll end up filing for bankruptcy. When Obama gets stuck with the cleanup bill because he’s driven BP out of business…it should get interesting.[/quote]

Huh-what? How did Obama drive them out of business and into bankruptcy?

I think they should ultimately go out of business for what happened under their watch. This is one of the biggest environmental disasters of our lifetimes. And there is ample evidence that they took a lot of shortcuts which are related to the spill (I won’t go so far as to say “caused”).

If they actually commit to paying for a real cleanup, I don’t see how they can stay in business. But the best we can hope for is that Obama or someone in power makes them pony up a superfund now (in real dollars, and with continued future payments into it) for all the cleanup that will need to be done for the next 10-20 or more years. It will be devastating environmentally so they could save a few thousands when they failed an inspection and bribed the inspector.

I highly doubt anyone will be able to force the money out of them. They’ll beggar off the cleanup, claim their assets are depleted and will then move their operations into some affiliated corporate shell or subsidiary and continue business as usual. It’s disgusting. I am more outraged about this than welfare fraud to the tune of $17k a year…

[Shadowfax]

[quote=meadandale]I’d like to see Obama and his administration continue to ‘go off’ on BP and villify them. If their stock price continues to dive they’ll end up filing for bankruptcy. When Obama gets stuck with the cleanup bill because he’s driven BP out of business…it should get interesting.[/quote]

Huh-what? How did Obama drive them out of business and into bankruptcy?

I think they should ultimately go out of business for what happened under their watch. This is one of the biggest environmental disasters of our lifetimes. And there is ample evidence that they took a lot of shortcuts which are related to the spill (I won’t go so far as to say “caused”).

If they actually commit to paying for a real cleanup, I don’t see how they can stay in business. But the best we can hope for is that Obama or someone in power makes them pony up a superfund now (in real dollars, and with continued future payments into it) for all the cleanup that will need to be done for the next 10-20 or more years. It will be devastating environmentally so they could save a few thousands when they failed an inspection and bribed the inspector.

I highly doubt anyone will be able to force the money out of them. They’ll beggar off the cleanup, claim their assets are depleted and will then move their operations into some affiliated corporate shell or subsidiary and continue business as usual. It’s disgusting. I am more outraged about this than welfare fraud to the tune of $17k a year…

[Shadowfax]

[quote=meadandale]I’d like to see Obama and his administration continue to ‘go off’ on BP and villify them. If their stock price continues to dive they’ll end up filing for bankruptcy. When Obama gets stuck with the cleanup bill because he’s driven BP out of business…it should get interesting.[/quote]

Huh-what? How did Obama drive them out of business and into bankruptcy?

I think they should ultimately go out of business for what happened under their watch. This is one of the biggest environmental disasters of our lifetimes. And there is ample evidence that they took a lot of shortcuts which are related to the spill (I won’t go so far as to say “caused”).

If they actually commit to paying for a real cleanup, I don’t see how they can stay in business. But the best we can hope for is that Obama or someone in power makes them pony up a superfund now (in real dollars, and with continued future payments into it) for all the cleanup that will need to be done for the next 10-20 or more years. It will be devastating environmentally so they could save a few thousands when they failed an inspection and bribed the inspector.

I highly doubt anyone will be able to force the money out of them. They’ll beggar off the cleanup, claim their assets are depleted and will then move their operations into some affiliated corporate shell or subsidiary and continue business as usual. It’s disgusting. I am more outraged about this than welfare fraud to the tune of $17k a year…

[Aecetia]

I believe they can break the company up and save the profitable part and bankrupt the non- profitable part. For the British, BP may be their AIG: too big to fail. Their pensioners have a lot of money invested in BP. I can see some of the campaign ads now with the oil coated dead and dying wildlife, the ruined and shuttered businesses. This is going to be the gift that will keep on giving to some who want to use this against the current people in charge. I think it will be like certain sections of New Orleans, ghost towns abandoned by the owners who went out of business. This is a horrible tragedy for the country.

[Aecetia]

I believe they can break the company up and save the profitable part and bankrupt the non- profitable part. For the British, BP may be their AIG: too big to fail. Their pensioners have a lot of money invested in BP. I can see some of the campaign ads now with the oil coated dead and dying wildlife, the ruined and shuttered businesses. This is going to be the gift that will keep on giving to some who want to use this against the current people in charge. I think it will be like certain sections of New Orleans, ghost towns abandoned by the owners who went out of business. This is a horrible tragedy for the country.

[Aecetia]

I believe they can break the company up and save the profitable part and bankrupt the non- profitable part. For the British, BP may be their AIG: too big to fail. Their pensioners have a lot of money invested in BP. I can see some of the campaign ads now with the oil coated dead and dying wildlife, the ruined and shuttered businesses. This is going to be the gift that will keep on giving to some who want to use this against the current people in charge. I think it will be like certain sections of New Orleans, ghost towns abandoned by the owners who went out of business. This is a horrible tragedy for the country.

[Aecetia]

I believe they can break the company up and save the profitable part and bankrupt the non- profitable part. For the British, BP may be their AIG: too big to fail. Their pensioners have a lot of money invested in BP. I can see some of the campaign ads now with the oil coated dead and dying wildlife, the ruined and shuttered businesses. This is going to be the gift that will keep on giving to some who want to use this against the current people in charge. I think it will be like certain sections of New Orleans, ghost towns abandoned by the owners who went out of business. This is a horrible tragedy for the country.

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