For those who wanted to buy that BP stock

The leak isn't stopped, you think it has bottomed? NO WAY.

In case you are wondering, ALL the other companies that work in the Gulf are waiting for a precedent in court that gives BP liability, then they are all going to sue BP's arse for lost income or monies spent on projects that were cancelled due to the moratorium on drilling. There are 100's of millions tied to this type of industry wide lawsuit. BP might not make it out of this as BP. Just wait till this reaches the East coast, the Keys, etc. Billions more could be sought.
IMHO

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For those who wanted to buy that BP stock
Now is your chance.

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There should be plenty of it....

Goldman Sachs sold 4.68 million shares prior to the incident, saving $96 million.
Wow. Weren't they "luck."

Other companies with outstanding foresight were Wachovia, which sold 98% of its shares in BP, and UBS, which sold 97% of its shares in BP.

Oh, and Tony Hayward, CEO of BP, reportedly (London Telegraph) sold 1.4 million of his own shares weeks before the spill.

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BP might not make it out of this as BP. Just wait till this reaches the East coast, the Keys, etc. Billions more could be sought.
IMHO

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They will bankrupt and open the next day as someone else with people moved around

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In case you are wondering, ALL the other companies that work in the Gulf are waiting for a precedent in court that gives BP liability, then they are all going to sue BP

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I was wondering, but neither stare decisis nor res judicata work that way. In other words, a judgment against BP in favor of one company won't necessarily be binding against BP and in favor of other plaintiffs in subsequent suits brought against BP.

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Goldman Sachs sold 4.68 million shares prior to the incident, saving $96 million.
Wow. Weren't they "luck."

Other companies with outstanding foresight were Wachovia, which sold 98% of its shares in BP, and UBS, which sold 97% of its shares in BP.

Oh, and Tony Hayward, CEO of BP, reportedly (London Telegraph) sold 1.4 million of his own shares weeks before the spill.

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WOW!

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They will bankrupt and open the next day as someone else with people moved around

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It won't be that cut and dry, but there are hundreds of lawyers and consultants pouring through agreemnents, intercompany compacts, rules, regulations, laws etc and developing a strategy to get as many assets out of "BP" as possible and stick as many liabilities back in.

Other affiliated companies will benefit while "BP" burns to satisfy the public's need for revenge.

Glad I sold mine on April 26th


But on another note at least my Conoco stock has been doing really well since the accident.