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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (75531)	5/21/2010 5:22:27 PM
From: stockman_scott	Read Replies (1) \| Respond to of 149317

BP isn't going out of business...they are one of the top ten global firms ranked by size (well over $200 Billion in sales in 2009). BP is vertically integrated so not only does it explore for oil, it drills, it refines, distributes and then sells oil onto the global market and to consumers at it's stations. BP's board has to show some courage and fire it's CEO and the president of BP's North American operations -- they totally jeopardized the firm's credibility in the marketplace...CEO Tony Hayward and his top execs put profits ahead of safety and BP's catastrophic oil well blowout in the Gulf should be quite a wake up call for the company...BP can expect massive class action lawsuits, large shareholder lawsuits, potential fines and prosecution by the U.S. government, and consumer boycotts for some of their retail outlets...I've heard that BP's financial exposure over the next decade could be north of $25 Billion -- that will make what happened after the Exxon Valdez spill seem like kid's stuff...BP has the financial resources to follow through on the cleanup and compensate all the injured parties. Yet, I sure wouldn't trust the current BP management to run the company in the future and try to rebuild BP's reputation with all the stakeholders in the marketplace.

To: Jim McMannis who wrote (75531)	5/23/2010 12:01:08 PM
From: ChinuSFO	Read Replies (1) \| Respond to of 149317

If they go out of business footing the costs, then so be it. But surely the intent should not be to deal with them in a deliberate way so as to shut them down as some extremists are demanding. But my feeling is that BP may go down under if they are to foot the consequential damage costs. To me, there is a key issue that the MSM is not fully picking up on. And that is the inspection report that BP had in hand. BP knew fully well that the BOP was defective and that the hydraulics had leaks. If that is correct then BP is expected to act expeditiously on this critical safety system. Did they? My presumption is that this "no drama" Administration has seized and frozen such papers and lying low for now so as to assist in the plugging up of the spill. Once this is done, then they should move to prosecute BP to the fullest. And to be fair to BP,, all other oil drillers should be treated the same way in that any lapses in safety equipment maintenance should be prosecuted.