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WORTH MORE DEAD THAN ALIVE: BP Now Valued At Less Than Its Assets


Business  (tags: business, society, BP, GULF OIL SPILL, gulf oil spill, money, investments, finance, corporate, economy, politics, news )

AWAY AWHI
- 3269 days ago - huffingtonpost.com
BP stock dropped $5.45, or 16 percent, Wednesday - easily its worst day since the April 20 rig explosion that set off the spill. In the seven weeks since then, the company has lost half its market value.



   

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Comments

patricia lasek (317)
Thursday June 10, 2010, 4:32 am
Since April 20, 2010 their stock fell 51.7%. Oops! They didn't see that coming anymore than they saw the Gusher in the Gulf.
 

writer fool (36)
Thursday June 10, 2010, 8:53 am
Awwwwwww, poor BP and their board.... Wait!!!!! I'll see if i can muster up some tears...... nope, can't do it.
 

Mike K (1)
Thursday June 10, 2010, 12:22 pm
yet the stock keeps rising?! so crooked
 

Josh Townsend (34)
Thursday June 10, 2010, 12:34 pm
Is da poor wittle oil company a sad? Boo FRIGGIN hoo.
 

Suzanne L (3)
Thursday June 10, 2010, 12:52 pm
SERVES THEM RIGHT!!!!
Meanwhile, I am crying for the animals.......
 

Julie Unruh (18)
Thursday June 10, 2010, 2:37 pm
The lower it goes, then some billionaire will buy up all the stock and then the higher it goes, the more money they will earn. It's sick, why not bankrupt them completely?
 

Mike M (8)
Thursday June 10, 2010, 2:47 pm
The US government better take control of BP or the American people will be screwed into paying for this mess because everything will be tied up in courts for years.
 

Jennifer G (20)
Thursday June 10, 2010, 3:03 pm
Wee-wee-wee...poor, little rich corporation. It's risky business, BP, operating with only pure profit in mind. The US government needs to repeal that law which places a cap on the amount of liability an oil company must face. Especially one which knew it was operating with inferior/inadequate/damaged equipment...but greedly little monsters danced in their head...and now they aren't worth what they want to be. Payback's a bitch...
Problem is, the muckity-mucks at BP only have to scrimp a bit on their lavish lifestyles--the folks and animals of the Gulf Coast will never be the same!
 

Edward Palma (15)
Thursday June 10, 2010, 3:21 pm
They deserve worse than that. Their greed and negligence has cost the lives of 11 workers and untold numbers of marine and terrestrial wildlife. They are responsible for the permanent damage to the ecosystem of the Gulf and coastline. BP has ruined the lives and livelihoods of the people in the area, and they show no remorse and refuse to compensate them. Their whole effort to date has been geared toward saving their precious oil, not stopping the spill. They have lied, stalled and screwed up endlessly, again all to protect their precious poison and profits. Our government chose to let them handle the clean-up. What were they thinking, or our they just protecting these criminals. Shut them down permanently, revoke their charter to do business. Seize the assets of the company to pay for the clean-up and reimburse the people of the Gulf Coast. I feel for the employees of the company who will lose their jobs but they chose to work for a company that already had a slimy reputation. They continued to ignore environmental laws and safety rules, and caused the destruction of our Gulf ecosystem with their wanton negligence. I have no sympathy for the BP executives and believe they should all have their personal assets seized and should all be jailed until their is no damage left, about 50 years or so.
 

Kathy B (106)
Thursday June 10, 2010, 4:09 pm
Glad to see most everyone feels the same as I do, although Mike M. might have a point about them not being able to settle their debts.
 

Aletta Kraan (146)
Thursday June 10, 2010, 4:51 pm
Noted , thanks , it's a mess !!
 

Sylvie M (46)
Thursday June 10, 2010, 5:24 pm
I guess that no real, actual, calculated, figures shall ever show the total amount of various damages created by this tragedy. How many weeks, months, years before everything in the Gulf goes back to normal? How many people on the coast shall lose not only their job, but their way of life? And how can anybody actually calculate the loss of this "way of life" for several generation of fishermen? How many birds, fishes, tortoises, dolphins, and various other species shall be lost forever?
How many LIES shall we have to hear from the Billionaire Polluters ?
 

John C (75)
Thursday June 10, 2010, 5:28 pm
The vultures of wall street are circling. It is unlikely that any corporation will attempt a takeove though. No one else whould want to risk inheriting the liability that hangs around BP's neck. They will seek a way to peel off BP's assets on the cheap reducing its ability to cover their debts.

The staff at Minerals management should be cleaned out and replaced with Native American regulators. They understand that no amount of money can repair land that is desecrated. We were told for so long that we were borrowing from our childrens future we became numb to it. Reaaly we were not borrowing from it. We were sacrificing it.
 

Matloob ul Hasan (81)
Thursday June 10, 2010, 7:37 pm
Noted, thanks.
 

Roseann d (178)
Thursday June 10, 2010, 8:08 pm
And they keep piling environmental disaster on top of environmental disaster, like true psychopathic imbeciles. First the Oil Spill, the the toxic dispersant Corexit, now they want to BURN their recaptured oil because they don't know what to do with it. I think the CEO and all the other corrupt cronies responsible should take a long swim in their swill. That's what should be done w/ it.

The murderers, it should be their execution chamber. Just like the pelicans, fish and all other wildlife out there dying a slow death.
 

Cindy Black (61)
Thursday June 10, 2010, 11:14 pm
Sadly, BP is no more greedy or evil than Chevron or any other oil company, all of whom enjoy profits in the billions while lying through their teeth that it's all for "research and development to help us better serve the public" -- while the poor public they're supposed to be serving shells out its last dollar at the pump! It's despicable. That said, BP now stands out among its peers only because it screwed up and got bit in the butt for it. Coulda happened to any of them but it happened to BP. We have all GOT to work to change this system somehow -- to reduce our reliance on that nasty gooey stuff called OIL. And, a much more difficult proposition: we have GOT to figure out ways to challenge and change a system which supports such terrible inequity, such terrible greed. Millions in salaries and millions more in bonuses while food is taken right out of the mouths of those without commensurate power??! Look at the last 2 years -- the banks, the investment firms, the oil companies...??! This country is wounded and bloodied and limping pitifully. We cannot continue on like this!
 

Past Member (0)
Friday June 11, 2010, 1:05 am
Read about how poorly they're treating the affected people. If that's how badly humans are being treated, imagine how badly they're treating the oil covered animals!
 

Cheree M (46)
Friday June 11, 2010, 1:39 am
BP is a JOKE.......They should be ashamed of themselves.......
 

Jane Parker (70)
Friday June 11, 2010, 4:20 am
I wish all the management of BP were animals in that oil dredged sea and so by now they would probably all be dead.
 

patricia lasek (317)
Friday June 11, 2010, 5:43 am
Can you say "Mass Murderers"?
 

Peggy Peters (29)
Friday June 11, 2010, 6:44 am
Serves BP right......but a drop in stock prices is not even close to be enough punishment for the mayhem they have created in the Gulf!!!
 

Jen S (121)
Friday June 11, 2010, 8:51 am
Where is criminal culpability in this? Every executive at BP who signed off on safety shortcuts, every co-opted
federal inspector at Mineral Management, everyone at Halliburton. Because I am finding that this debacle made me agressively vindictive toward all parties-how are they ignoring 11 dead Americans and the environmental carnage? -I'm quite ready to see all these people hand-scooping sludge, oil, tar balls and dead wildlife with the unpaid volunteers who lack equipment but care about what they are attemtpting to do.
 

Sara T (3)
Friday June 11, 2010, 10:57 am
Yes! I'd like for us to put them out of business, that is, after they pay to clean up this huge disastrous mess!
 

DORIS L (61)
Friday June 11, 2010, 11:43 am
This is certainly a well deserved decline.
 

Bess moore (6)
Friday June 11, 2010, 2:19 pm
BOO HOO HOO!!
 

Teresa K (33)
Friday June 11, 2010, 4:27 pm
What ever!!
 

Mary Donnelly (47)
Friday June 11, 2010, 4:58 pm
Thanks Cal.

I agree with Patricia M. Lasek. That's why the US Government should stay away from trying to take control of BP; let its partners and re-insurers pay the bill, the value of which is at the moment uncalcuable, not the US Government
 

Sonny Honrado (5)
Friday June 11, 2010, 5:18 pm
They must first pay for the damaged cuased by the off-shore drilling.
 

Ricardo C (66)
Friday June 11, 2010, 10:50 pm
This tells me they ain't gonna pay for nothin!!!
 

KS Goh (0)
Saturday June 12, 2010, 12:17 am
As long as they can pay for the damage.
 

Glyn P (58)
Saturday June 12, 2010, 2:17 pm
GOLLY GEE ---------------- DOES THIS MEAN THAT THE SELF SERVING , MONEY HUNGRY , LYING --------- FAT CAT BIG SHOTS WILL NOT GET THEIR OVER SIZED "BONUS "?

BOOOO FREAKEN HOOO
 

Glyn P (58)
Saturday June 12, 2010, 2:20 pm
GOOD ----- I HOPE IT DROPS 16% EVERY DAY .
 

Cynthia P (3)
Saturday June 12, 2010, 8:23 pm
THEY'LL BE FINE,,, BP ALONG WITH OTHER MAJOR OIL COMPANIES >> "DON'T PAY TAXES"
 

Deborah O (98)
Saturday June 12, 2010, 9:08 pm
They already handed out the bonuses--after this happened, too. And they were not small. As far as the value of assets--today's safety bet, kiddies, is that they were hard at work hiding assets and moving money within minutes of this disaster. Far more effort has been put into protecting their money than has been put into cleaning up the mess they've made. Hell, they were thinking about their profit margins when they decided to skimp on safety in the first place. They probably thought the most the safety violations would ever cost them would be the deaths of a few workers, and any settlements there could be delayed while they were negotiated down and down again in appeals. Sure, they'll be fine. But I wonder how the families of those who died are doing?
 

April Thompson (2)
Saturday June 19, 2010, 4:32 pm
I agree with Edward to take everything from the company and the BP executives! Let's see how they live on $20,000 a year!!!
 

low beng kiat (128)
Wednesday June 23, 2010, 12:42 am
Noted.Thanks
 
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