regarding HAL, the asbestos liability is no surprise to us shareholders! They have settled 194,000. claims since 1975. The average claim has settled for $750.00.
HAL is not an ASBESTOS MANUFACTURER, like the others who went chapter 11.
Yes, the jury did award 2 out of wack settlments, but I sincerely doubt they will wait for the money while in appeal and settle for much less then jury awarded.
HAL has been able to show 70% of the claims CANNOT prove causation, which in return means NO LIABILITY= NO DAMAGES= NO AWARD!
I was AMAZED at the streets reaction, and how the shorts piled on the stock at 12-14. LOL
Look closely at HAL, its the worlds largest oil service company. They are FREAKEN ON SALE at 24-28, at 12-14 I will not express my gratitude to the street.
Also lets not forget 95% of the claims and attorney fees are covered under insurance policies. ( not even MO had insurance for its liabilities)
So go ahead and knock the stock, or better yet short it..I would love to buy in the 10-12 area, but I missed it being out yesterday!
Personally the shorts will get FRIED on HAL, and once crude heads back to 22-24BBL, watch where HAL goes.
Sometimes it pays to do homework and research a stock before you short it based on CNBC grouping HAL w/ ASBESTOS MANUFACTURERS!
By the way look up how many other companies are in a similar situation in the oil and gas sector it may SURPRISE you!
Good luck! |
