BP trying to shirk its responsibility
Posted in the Sydney, Australia Forum
Since: Jun 13
#1 Jul 5, 2013
bp holdings bpcode85258080768,BP trying to shirk its responsibility
For the last three years, BP has repeated over and over that it would make it right by fully paying for all damage done by the Deepwater Horizon oil spill.
BPs recent actions make it clear that this was a hollow promise.
BP has taken out full-page ads in newspapers trying to intimidate people into not filing claims for their losses.
One newspaper headline described this public relations stunt appropriately:BP takes fight to claimants.
BP is now trying to back out of the deal it made, and that was signed off by a federal judge in New Orleans.
BP set up the eligibility requirements that determine who can receive funds from the settlement program.
BP decided that the settlement would be uncapped meaning that BP would have to pay for all losses that met the requirements of the settlement program.
Even though it had the best lawyers in the world on two continents BP now has buyers remorse and wants out.
Thankfully, BPs arguments to the court have been rejected, and BP will be held to its word.
BP will be forced to make it right.
The overall damage to the entire economy in south Louisiana from the oil spill is still being felt.
The best public relations action BP could take now would be to stop paying for ads in The New York Times and spend that money to help people and businesses fully recover.
Since: Jun 13
#2 Jul 6, 2013
Yeah very true, it is hard to get out of debt if in the first place you have no financial etiquette. You start by being disciplined towards money and do not spend more than what you earn.
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