Reply With Quotecould imagine owning a company that has that kind of cash???
BP Deposits $3 Billion in Spill Fund
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08-09-2010, 11:12 AM #1I'm CEO, Bitch! ADMINISTRATOR
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BP Deposits $3 Billion in Spill Fund
BP Deposits $3 Billion in Spill Fund
By SIOBHAN HUGHES
WASHINGTON—BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund.
BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods of people affected by the worst offshore oil spill in history. The company said it would make an additional $2 billion deposit in the fourth quarter.
In June, BP agreed to set up the fund following a meeting between company Chairman Carl-Henric Svanberg and then-Chief Executive Tony Hayward with U.S. President Barack Obama and senior administration officials.
BP said the account would be administered by a newly established trust overseen by former U.S. District Judge John Martin and by Kent Syverud, dean of the Washington University School of Law. Citigroup Inc. will serve as corporate trustee.
"We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region," Associate Attorney General Tom Perrelli said in a statement. "We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future."
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08-09-2010, 11:13 AM #2I'm CEO, Bitch! ADMINISTRATOR
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08-09-2010, 01:09 PM #3Registered User
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hahah not at all....That was a good move by BP though, hope for the best for those in the Gulf area
Originally Posted by Prince
What Would Fetus Do?
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08-09-2010, 02:26 PM #4Bohemian Extraordinaire ELITE MEMBER
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I want them to also put twice as much money into their Solar division and stop using sub-par parts in their PV modules because it gives the rest of the industry a bad reputation.....
Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
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08-09-2010, 02:48 PM #545 and Alive! ELITE MEMBER
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Too bad it's another $3billion the people that need it will never get to see as long as the govt. controls where the funding goes.
Last edited by twarrior; 08-09-2010 at 02:48 PM. Reason: grammar
Weight lifting is like " Mind over Matter". If my body doesn't mind---the weight doesn't matter!!!!!
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08-09-2010, 10:27 PM #6Is Doin It 4 Da Shorteez
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BP Scores $10B Tax Credit by Offsetting Cash - CBS News
looks like the US taxpayers are going to foot most of the tab for that, as expected...I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
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08-09-2010, 11:05 PM #7Registered User
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Did you expect an thing different?? Originally Posted by LAM
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08-10-2010, 12:07 PM #8Bohemian Extraordinaire ELITE MEMBER
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Well he pretty much said "as expected" which means he didn't expect anything different... Originally Posted by Strom
What has happened to reading comprehension anymore?Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
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08-16-2010, 08:28 AM #9DRSE ScatMaster
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B.P. done fucked up
May the plop be on you.
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08-16-2010, 09:02 PM #10Has lost 58lbs! ELITE MEMBER
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Can you imagine all the LA dirtbags still living in FEMA tents who will be making claims?
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