BP Stock?

[Hoofbite]

Any stock gurus in here?

Worth it?

Thinking about just getting a few options a ways out and seeing how it goes. No real loss if nothing happens.

What do you think?

 

[CowboyWay]

Any stock gurus in here?

Worth it?

Thinking about just getting a few options a ways out and seeing how it goes. No real loss if nothing happens.

What do you think?

Be careful. Be very careful. This thing is looking grave for them. If you're going to do it, do it the day they cap that thing, or when the relief well is done.

the stock is going to drop alot more. Don't buy it today.

When they get the situation under control, if you want to take a chance, that would be the time.

 

[Maikeru-sama]

Wasn't someone on here claiming that it was impossible for BP to go bankrupt over this?

I just read an article that stated that Bankruptcy is a very real possibility for them.

 

[Hoofbite]

Be careful. Be very careful. This thing is looking grave for them. If you're going to do it, do it the day they cap that thing, or when the relief well is done.

the stock is going to drop alot more. Don't buy it today.

When they get the situation under control, if you want to take a chance, that would be the time.

I'm not talking about buying the stock straight up. I don't have that kind of dough to **** with.

Just talking about a couple of options for a long way out and seeing if they come around.

 

[Hoofbite]

Wasn't someone on here claiming that it was impossible for BP to go bankrupt over this?

I just read an article that stated that Bankruptcy is a very real possibility for them.

I think theo said something about it but I am not totally sure.

 

[CowboyWay]

I think theo said something about it but I am not totally sure.

It was theo.
I think he said something about Enron being too profitable to go out of business too around 2000. :

 

[Kangaroo]

Wasn't someone on here claiming that it was impossible for BP to go bankrupt over this?

I just read an article that stated that Bankruptcy is a very real possibility for them.

Then that would be BP trying to use the system to reduce their liability and payments declare bankruptcy settle for pennies on the dollar.

Sounds more like a bean counter strategy

 

[Doomsday101]

Then that would be BP trying to use the system to reduce their liability and payments declare bankruptcy settle for pennies on the dollar.

Sounds more like a bean counter strategy

BP will not have much of a choice, this is going to cost hundreds of billions.

The expectation is they will have to file chapter 11

 

[Hoofbite]

BP will not have much of a choice, this is going to cost hundreds of billions.

The expectation is they will have to file chapter 11

Hundreds of billions?

 

[Doomsday101]

Hundreds of billions?

Clean up, fines and law suites will follow yes in the end it up over 100 Billion

 

[CowboyDan]

They make $56 million a day...........yes, a day. You do the math. It's the cigarrette company mentality. Just because the US hates the company, doesn't mean the rest of the world does. Don't forget that they are a worldwide company and many other countries depend on them, Russia being one of the largest customers. As long as your morals don't get in your way (like they would mine) then it might be worth the risk in the long-term.

 

[Dallas]

Glad to see nobody in here knows anything about what he/she is talking about.


I forget just how BP "experienced" you all are.



BP isn't going anywhere nor will they be bankrupt.


Hundreds of billions? Really? I can't believe I read that.

 

[CowboyWay]

Clean up, fines and law suites will follow yes in the end it up over 100 Billion

Not to get off point, but watching the news last night, there were many people complaining about how slow BP is to pay them (meaning the fisherman, marina owners, commercial guides, etc etc. But the problem BP says they are running into is many of these people can't produce W-2's or reciepts to prove the income they are losing.

I hate to side with BP on anything right now, but what the hell do people want them to do? Just write blank checks to people who walk up and say "I'm a fisherman, and I'm losing 10 grand a month"???

Screw that.

If you can't produce reciepts or W-2's, you are flat out lying on your taxes. Just because someone pays you in cash doesn't mean you shouldn't have a paper trail reporting that income. I don't think anyone can hold BP to writing checks to people who can't produce the proper paperwork to show what they should be making if it weren't for the leak.

To me, it sounds like thousands of people down there are not reporting their income, but now want to be paid for lost income? You can stick that where the sun don't shine in my opinion.

 

[Dallas]

Not to get off point, but watching the news last night, there were many people complaining about how slow BP is to pay them (meaning the fisherman, marina owners, commercial guides, etc etc. But the problem BP says they are running into is many of these people can't produce W-2's or reciepts to prove the income they are losing.

I hate to side with BP on anything right now, but what the hell do people want them to do? Just write blank checks to people who walk up and say "I'm a fisherman, and I'm losing 10 grand a month"???

Screw that.

If you can't produce reciepts or W-2's, you are flat out lying on your taxes. Just because someone pays you in cash doesn't mean you shouldn't have a paper trail reporting that income. I don't think anyone can hold BP to writing checks to people who can't produce the proper paperwork to show what they should be making if it weren't for the leak.

To me, it sounds like thousands of people down there are not reporting their income, but now want to be paid for lost income? You can stick that where the sun don't shine in my opinion.

This is exactly what they want them to do because Exxon did it to the fishermen here in Alaska. I worked on the Valdez spill for 2 years from the start while I was w/ ARCO. I had friends who were getting their boats basically purchased in order to fight the spill.

2 of my friends had 45 ft trawlers and were getting 15k/day to set boom and skim the oil to relief vessels.

People haven't forgotten those days and the gobs of money Exxon initially threw at the spill.

Granted it all slowed WAYY down after the first 10 months. Exxon was taking it in the FACE and finally pulled back w/ all the money going out to the local folks w/ vessels.

It got a LOT more organized after that.

 

[bbgun]

Juke is using it in his dog training classes, specifically the "house breaking" portion.

 

[WV Cowboy]

I already had BP stock before this happened.

It was cruising along very well. I had bought it at $41, and it had been up around $59.

All the while paying a very nice dividend.

All I can do now is hold on and hope for the best.

 

[Dallas]

I already had BP stock before this happened.

It was cruising along very well. I had bought it at $41, and it had been up around $59.

All the while paying a very nice dividend.

All I can do now is hold on and hope for the best.

My father has gobs of BP (31 yrs now working for BP) stock and he hasn't moved it. It will come back. It probably wont' be until next year, but it will come back.

 

[DasTex]

As far as the stock goes, probably not right now. Still going to fall in the coming months. Now if you can hit it on the bounce, then great, but better follow it closely. It's too early now IMO.


As far as them going bankrupt - VERY unlikely.

 

[Doomsday101]

Glad to see nobody in here knows anything about what he/she is talking about.


I forget just how BP "experienced" you all are.



BP isn't going anywhere nor will they be bankrupt.


Hundreds of billions? Really? I can't believe I read that.

It is not me it is people within the oil industry that are saying it is very likley BP will file for Chapter 11. Take it up with them evidently you know more than they do. It would not be the 1st time a big oil company filed Chapter 11 Texaco in 1987 was forced to file chapter 11 after paying a big fine in a court case involving Pennzoil for alot less damages than BP is looking at.

 

[Maikeru-sama]

I think some people need to recuse themselves from this thread.