Many are concerned that BP (NYSE:BP) will file for bankruptcy and that their stock trading will continue to fall. Even though BP seems to have a we can handle it all attitude, they will eventually run out of money. With them putting out such large amounts for things like television ads to the tune of $50 million dollars, it makes you wonder how they are planning to continue on at this pace financially. Not to mention, they haven't even been successful in their fuel spill containment efforts or even scratched the surface of beginning to clean up this catastrophe.
There is also much speculation that BP is getting ready to cut their dividends in order to be able to pay for the Gulf oil cleanup. This sent BP shares plummeting below 400 pence today. At the end of the day trading, BP was down 4.2 percent at 391.5 pence. Before the hazardous spill BP was at 648 pence.
"Consumer borrowing unexpectedly rose in April but fell in March, suggesting Americans aren't too comfortable with their finances despite the economic recovery. The Federal Reserve on Monday said consumer credit outstanding increased at a seasonally adjusted annual rate of 0.5 % up $954.8 million to 2,440 trillion. Economists surveyed by Dow Jones News wires had for cast a $1.0 billion decline in consumer credit during April. But the surprise gain came with a revision to March, when borrowing fell $5.4 billion or 2.7 %, originally it was estimated rising by $2.0 billion," reports Jeff Bater and Meena Thiruvengadam.
Showing posts with label hazardous spill. Show all posts
Showing posts with label hazardous spill. Show all posts
Wednesday, June 9, 2010
BP's (NYSE:BP) Fuel Spill Containment Timeline Changes
Here we go again, BP (NYSE:BP) is once again changing their fuel spill containment timeline. It seems there will never be a definite, or even guess that's close to accurate, on when the hazardous oil will stop pouring onto the seabed and into the ocean.
Apparently Doug Suttles, BP's chief operating officer was overzealous in his claim that the leaking oil would be down to a "relative trickle" by next week. Now its being said that it should take much longer to get even close to that point of containing the oil. Suttles is now saying that BP is hoping that by Monday or Tuesday of next week they hope to have an improved containment system in place.
Suttles continues to maintain that no underwater oil plumes have been detected in "large concentrations" from the Gulf spill. Testing was done yesterday which would detect the presence of these underwater oil plumes and they came back positive. The testing was done at three different sites by a University of South Florida vessel at 3,300 feet below the surface and around 42 miles Northeast of the hazardous spilling well.
Apparently Doug Suttles, BP's chief operating officer was overzealous in his claim that the leaking oil would be down to a "relative trickle" by next week. Now its being said that it should take much longer to get even close to that point of containing the oil. Suttles is now saying that BP is hoping that by Monday or Tuesday of next week they hope to have an improved containment system in place.
Suttles continues to maintain that no underwater oil plumes have been detected in "large concentrations" from the Gulf spill. Testing was done yesterday which would detect the presence of these underwater oil plumes and they came back positive. The testing was done at three different sites by a University of South Florida vessel at 3,300 feet below the surface and around 42 miles Northeast of the hazardous spilling well.
Tuesday, June 8, 2010
BP (NYSE:BP) Buys Google Ad Words, "Oil Spill"
BP (NYSE:BP) bought the Google ad words "oil spill" with the tag line "how BP is helping." This will link search results from Google and Yahoo directly to BP's website. A spokesman for BP, said the reasoning behind this purchase was to help people by making it a little easier to find out and follow the on going fuel spill containment efforts. There also will be links on the website that will help direct people to the correct places to file a legal claim, sign up to volunteer, and to report oil found on the beach.
BP has spent several millions of dollars, $50 million to be exact, on television advertising. President Obama has criticized BP for doing this, especially when they have given fisherman who have lost their livelihood only $5,000. Not to mention how it seems they are attempting to limit the amounts they'll pay to those people that have been directly effected by the devastating results of the hazardous spill disaster.
Televised apology ads or not, its not changing the views of most people, 20 percent say they will no longer purchase BP gas while 31 percent will buy less gas from the oil company. While 47 percent of people feel BP's public relation efforts are too little to late, there are 41 percent who believe that BP is doing absolutely everything they can, leaving 42 percent who feel they are only doing what is necessary for public relations sake. The bottom line, 71 percent of people feel BP is responsible for the oil spill.
BP has spent several millions of dollars, $50 million to be exact, on television advertising. President Obama has criticized BP for doing this, especially when they have given fisherman who have lost their livelihood only $5,000. Not to mention how it seems they are attempting to limit the amounts they'll pay to those people that have been directly effected by the devastating results of the hazardous spill disaster.
Televised apology ads or not, its not changing the views of most people, 20 percent say they will no longer purchase BP gas while 31 percent will buy less gas from the oil company. While 47 percent of people feel BP's public relation efforts are too little to late, there are 41 percent who believe that BP is doing absolutely everything they can, leaving 42 percent who feel they are only doing what is necessary for public relations sake. The bottom line, 71 percent of people feel BP is responsible for the oil spill.
Saturday, June 5, 2010
BP (NYSE:BP): No To Cameron's Offer To Assist In Oil Spill Containment
You would think BP (NYSE:BP) would take all the help they can get, but they turned down Cameron's offer to assist in the oil spill containment effort. Cameron, the director in Avatar and Titanic is known for his campaigning for environmental protection.
Cameron said, "over the last few weeks I've watched, as we all have, with growing horror and heartache, watching whats happening in the Gulf and thinking those morons don't know what there doing." He made it apparent his specialty isn't in deep sea expertise, or in drilling for oil. He claims to know people that are very good in electronic optical fiber and operating underwater vehicles.
"I know really, really, really smart people that work typically at depths than what that well is at. Most importantly, they know the engineering that is required to get something done at that depth," said Cameron. He said today that BP "graciously" turned down his offer.
BP has said they've received thousands of ideas on how to stop the hazardous spill. These ideas have come from the everyday person to big corporations.
Cameron said, "over the last few weeks I've watched, as we all have, with growing horror and heartache, watching whats happening in the Gulf and thinking those morons don't know what there doing." He made it apparent his specialty isn't in deep sea expertise, or in drilling for oil. He claims to know people that are very good in electronic optical fiber and operating underwater vehicles.
"I know really, really, really smart people that work typically at depths than what that well is at. Most importantly, they know the engineering that is required to get something done at that depth," said Cameron. He said today that BP "graciously" turned down his offer.
BP has said they've received thousands of ideas on how to stop the hazardous spill. These ideas have come from the everyday person to big corporations.
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