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topsecret09 (44.31)

Imagine the worst In BP's future

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June 07, 2010 – Comments (2) | RELATED TICKERS: BP

 If you have read any of my posts on BP, you know that I think the companies stock Is a tremendous risk given all the uncertanties with regard to this enormous human and economic disaster. Risk/ reward does NOT favor reward here...  TS         It seems unthinkable, even now, that the disastrous oil spill in the Gulf of Mexico could bring down the mighty BP. But investment bankers get paid to think the unthinkable — and that is just what they are doing. The idea that BP might one day file for bankruptcy, particularly as part of a merger that would enable it to cordon off its liabilities from the spill, is starting to percolate on Wall Street. Bankers and lawyers are already sizing up potential deals (and counting their potential fees).     http://www.nytimes.com/2010/06/08/business/08sorkin.html

2 Comments – Post Your Own

#1) On June 25, 2010 at 12:36 AM, topsecret09 (44.31) wrote:

BP was $38.00 when I posted this....  now...   $28.74...   TS    Louisiana (Reuters) - The Gulf of Mexico oil spill entered its 67th day on Friday with BP's New York share price at year lows and bad weather looming that could hamper clean-up and containment efforts.    http://www.reuters.com/article/idUSN1416392020100625

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#2) On June 25, 2010 at 12:50 AM, portefeuille (99.66) wrote:

BP shares are one of my smaller positions. I might add a few shares today.

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