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BP to pay record fine for Gulf oil spill

POSTED BY: NIKI2
UPDATED: Thursday, November 15, 2012 07:57
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Thursday, November 15, 2012 6:37 AM

NIKI2

Gettin' old, but still a hippie at heart...


Quote:

BP will pay a record fine to settle criminal claims arising from the 2010 spill in the Gulf of Mexico.

The fine comes on top of $20 billion that the company has agreed to pay into a trust fund to meet damages claims from the spill. It said it expects to pay a final $860 million into that fund this quarter.

BP reported a $17.2 billion loss in the quarter when the explosion took place. But it has been profitable since then, booking total profits of $43 billion over the course of the subsequent nine quarters.

BP has reached a $7.8 billion settlement with lawyers representing private-sector victims. But in September, the Justice Department accused BP of gross negligence and a "culture of corporate recklessness" in a federal court filing, which expanded the company's liability.

No criminal charges have yet been filed, and a major civil trial set to take place in New Orleans has been delayed until February 2013.

Transocean, the owner and operator of the rig, also has unresolved liability issues. The DOJ, in its September filing, said the company is also guilty of gross negligence.

"BP did not act alone, by any means, and its gross negligence and willful misconduct are inextricably joined with the acts and omissions of Transocean," the government said in the filing. http://money.cnn.com/2012/11/15/news/bp-oil-spill-settlement/index.htm
l?hpt=hp_t1


...not that it will TOUCH their bottom line, as they'll no doubt pass it on to all their customers...

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Thursday, November 15, 2012 6:45 AM

ANTHONYT

Freedom is Important because People are Important


Hello,

No sum would touch them. Their profits are so huge that these minor losses are just the cost of doing business. Doubtless calculated into their bottom line.

I bet at the high level business meetings their risk assessment teams are like, "Each year, on average, we will cause X amount of damage, minus Y amount of profit, we still come out ahead."

--Anthony


Note to Self:
Raptor - woman testifying about birth control is a slut (the term applies.)
Context: http://tinyurl.com/d6ozfej
Six - Wow, isn't Niki quite the CUNT? And, yes, I spell that in all caps....
http://tinyurl.com/bdjgbpe
Wulf - Niki is a stupid fucking bitch who should hurry up and die.
Context: http://tinyurl.com/afve3r9

“The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.” -T. S. Szasz

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Thursday, November 15, 2012 7:48 AM

BYTEMITE


Quote:

Originally posted by AnthonyT:
Hello,

No sum would touch them. Their profits are so huge that these minor losses are just the cost of doing business. Doubtless calculated into their bottom line.

I bet at the high level business meetings their risk assessment teams are like, "Each year, on average, we will cause X amount of damage, minus Y amount of profit, we still come out ahead."

--Anthony




It's not enough justice. But it's some justice, at least.

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Thursday, November 15, 2012 7:57 AM

ANTHONYT

Freedom is Important because People are Important


Quote:

Originally posted by BYTEMITE:
Quote:

Originally posted by AnthonyT:
Hello,

No sum would touch them. Their profits are so huge that these minor losses are just the cost of doing business. Doubtless calculated into their bottom line.

I bet at the high level business meetings their risk assessment teams are like, "Each year, on average, we will cause X amount of damage, minus Y amount of profit, we still come out ahead."

--Anthony




It's not enough justice. But it's some justice, at least.



Hello,

You're right. I should be a glass-half-full person, like you are. :-)

--Anthony


Note to Self:
Raptor - woman testifying about birth control is a slut (the term applies.)
Context: http://tinyurl.com/d6ozfej
Six - Wow, isn't Niki quite the CUNT? And, yes, I spell that in all caps....
http://tinyurl.com/bdjgbpe
Wulf - Niki is a stupid fucking bitch who should hurry up and die.
Context: http://tinyurl.com/afve3r9

“The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.” -T. S. Szasz

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