BP's "Watergoo" : BP market losses hit $100 billion on spill cost fears

[dixiegrrrrl]

( BP's lowest point in a year was 29.00 a share, till now.
It is now 27.00 on the Dow.)

Hayward has been assigned to cajole investors to remain with BP.



LONDON/VENICE, Louisiana (Reuters) - BP Plc stock hit a 14-year low on Friday and its credit weakened sharply on talk it needs extra cash to fund the clean-up and compensation bill for the worst oil spill in U.S. history.

Total share losses for the embattled oil major since the ecological disaster began on April 20 stand at around $100 billion, more than halving its pre-spill market value, and analysts at Nomura said it needed to assure the market of its liquidity.
http://finance.yahoo.com/news/BP-has-blownout-well-in-rb-2709842347.html?x=0&sec=topStories&pos=5&asset=&ccode=

[dipsydoodle]

1. Wouldn't worry about it too much

Maybe not long to go now. The escrow account may well be what will finish them - its changed the timing of when they'd have paid anyway. Its already being seen as the root of a liquidity problem from which they may not now be able recover - the sheer amount they need to borrow not even being available out there for that purpose. Any assets or investments currently up for disposal will not necessarily find buyers.

If you're suing them then please form an orderly queue. Some of you here will have got what you wished for but not everyone out there will be winners.

[TexasObserver]

2. Some of BP will likely be in chapter 11 within a year.

The stockholders could lose the entirety of their investment by the time this is over.

Decades of sloppy safety practices by BP finally bit them in the ass.

[Scuba]

3. And who is buying their BP stock? Why your 401k manager, that's who.

Don't be surprised when your retirement nestegg disappears.