Skip to main content

View Diary: White House plans to force BP to set aside money to pay damages (272 comments)

Comment Preferences

  •  You're 56% right (0+ / 0-)

    http://www.rigzone.com/...

    It's 44% owned by BHP Billiton cutting BP's risk in half right there.

    I doubt your $200B number includes materials, equipment and tax sheltered money at the moment and that assumes that number is even accurate.  

    YEEARGH!!  Do you enjoy being willfully ignorant?  Have you even bothered to look up BP's numbers?

    http://finance.yahoo.com/...

    BP's market cap before the disaster was $200B.  That includes EVERYTHING because it's the value of the whole damned company on the public markets!

    Based on past corporate behavior (not just BP but large corporations in general) I strongly doubt so.

    What specific past corporate behavior are you referring to?  Are you saying that you have found a pattern of big publicly traded companies low balling their value to investors and trading below actual value?  Please, tell us more... this is fascinating information!  I mean most of us thought the problem was that these companies hide losses and exaggerate gains to make themselves look more valuable.  If instead they are underselling themselves that's fascinating new result!

    •  Willfully ignorant? BPs numbers? (0+ / 0-)

      I provide you with a link to multiple charts (annual AND quarterly) and a link to the database they were derived from and you are so lacking in intellectual curiosity you couldn't be bothered to look beyond the first chart.

      Interlocking directorates, shell companies and even something as simple as skimming profits are all well known ways to keep assets out of view of governments, not to mention shareholders at times.  I'll just follow your lead and claim that all BP's upper management are pure as Ivory Snow, nothing to see here!  Large multinationals that have spent decades acting as if (not to mention convincing themselves that) they were beyond the law.  Running corporate malfeasance at some high level eventually?  Pish!  Such thinking about the Saints of the Boardrooms!  'Tis not to be born, I say.

      Feh.

      Torture is for the weak. After all, it is just extended wheedling.

      by nargel on Sat Jun 19, 2010 at 02:26:17 AM PDT

      [ Parent ]

      •  Well, so now we're accusing BP management of (0+ / 0-)

        embezzling not millions but billions?

        Interlocking directorates, shell companies and even something as simple as skimming profits are all well known ways to keep assets out of view of governments, not to mention shareholders at times.

        Keeping assets out of sight (and reach) of governments makes sense.  But why shareholders?  These guys are paid primarily in options.  They want to drive UP the stock price, not down.

        •  You ask for SPECIFIC (0+ / 0-)

          examples of corporate maladministration and when I provide a few examples (taking care to note that I am not specifically charging BP execs with them) and your first response is to charge me with that.  Slick logic fail there skippy.

          Torture is for the weak. After all, it is just extended wheedling.

          by nargel on Sat Jun 19, 2010 at 01:08:30 PM PDT

          [ Parent ]

          •  Not true and no you did not (0+ / 0-)

            Your claim:

            I doubt your $200B number includes materials, equipment and tax sheltered money at the moment and that assumes that number is even accurate.  Based on past corporate behavior (not just BP but large corporations in general) I strongly doubt so.

            My challenge:

            What specific past corporate behavior are you referring to?  Are you saying that you have found a pattern of big publicly traded companies low balling their value to investors and trading below actual value?  Please, tell us more... this is fascinating information!  I mean most of us thought the problem was that these companies hide losses and exaggerate gains to make themselves look more valuable.  If instead they are underselling themselves that's fascinating new result!

            Your response:

            Interlocking directorates, shell companies and even something as simple as skimming profits are all well known ways to keep assets out of view of governments, not to mention shareholders at times.  I'll just follow your lead and claim that all BP's upper management are pure as Ivory Snow, nothing to see here!  Large multinationals that have spent decades acting as if (not to mention convincing themselves that) they were beyond the law.  Running corporate malfeasance at some high level eventually?  Pish!  Such thinking about the Saints of the Boardrooms!  'Tis not to be born, I say.

            You ask for SPECIFIC examples of corporate maladministration and when I provide a few examples

            If you think these are "SPECIFIC" examples then you don't know what "SPECIFIC" means.

            Once again, I challenge you to provide evidence of large publicly traded companies lowballing their value for investors.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site