Monday, June 14, 2010
BP in play
by Larry Geller
Pensioners In Horror, As BP Plunges Another 9% (Business Insider, 6/14/2010) reports that BP shares have hit a new low. Indeed, pensioners should be concerned. They would be losers, as would anyone to whom BP owes compensation for damages caused by the oil spill in the Gulf of Mexico.
And then there is this: Report: BP Hires Blackstone Group, Goldman Sachs To Defend Itself Against Takeover Attempts (Business Insider, 6/14/2010).
The first article notes that BP still intends to pay out its dividend. Good for those expecting dividends, presumably including executives with large holdings. What’s next for BP after that?