BP says active cleanup operations are ending in Mississippi, Alabama and Florida after a three-year effort to repair the Gulf of Mexico shoreline after the 2010 oil spill. BP says it has spent more than $14B and 70M personnel hours on response and cleanup activities, and the Gulf is returning to the condition it would have been in if the accident hadn't happened. [View news story]
When the courts of the United States handled this situation is such a will nilly fashion, they are losing the confidence and trust of the American people. There have been decisions to reward too many entities with monetary gain without properly assessing if there were damages and if there were if they were equitable to the actual lost. No person is above the law, therefore the judge who is in charged should be brought forth to address in court if his actions have been prudent and legal.
Should there be a cap on oil spill payouts? A group of accounting professors essentially says yes and is backing BP's fight to cap the U.S. oil spill compensation payouts it must fund, which threatens to add billions of dollars to its bill for the 2010 Gulf of Mexico oil spill. "Identifying revenues and expenses requires more than a mere consideration of cash receipts and disbursements," the profs say. [View news story]
Also punish anyone who commits fraud, even their lawyers. That might put a damper in the ridiculous claims.
Should there be a cap on oil spill payouts? A group of accounting professors essentially says yes and is backing BP's fight to cap the U.S. oil spill compensation payouts it must fund, which threatens to add billions of dollars to its bill for the 2010 Gulf of Mexico oil spill. "Identifying revenues and expenses requires more than a mere consideration of cash receipts and disbursements," the profs say. [View news story]
This is such a bogus method to determine damages, that the only reasonable solution is to place a sensible cap on the damages. Ever since lawyers were given the legal right to drum up business, law suits have gotten out of hand. Our government is letting us down.
One man can notbe put into the position to assess and approve the claims.
The deadline for claims against BP related to the 2010 Gulf of Mexico oil spill is 11 months away, but the overseer responsible for paying the claims says he is already bracing for a late surge in filings. Of more than 165K claims filed as of May 15, nearly 25% have been determined eligible for payments worth ~$3.2B, and 200K claims seems likely before all is said and done. (earlier) [View news story]
Our legal system needs a revamping. I am sick and tired of the argument that it is the best in the world. There are obvious things that could be done to make it better, but who is in charge of that. Yes the lawyers in most part. Throw some of them in jail and perhaps we could start making it better. You can't tell me that a lot more of them should be in jail. Does anyone know the number count of lawyers in the past say dozen years that have been incarcerated? We all know this is a big problem but our government does nothing to address it. It's about time they take action of this and let them know that their personal financial interests do not override right and wrong.
Evleaks once more posts pictures of a new Nokia (NOK) phone ahead of its official unveiling. This time, it's the Lumia 925 (Catwalk), set to be introduced tomorrow in London. As expected, the 925 is built out of metal rather than the polycarbonate used for the Lumia 920 and 928, and is notably thinner than those phones. (earlier) [View news story]
Well the casing is a problem. I had an Android with an aluminum casing and the paint chipped off and it looked like crap. Also it was so light that it caused me to drop it more often, the case would pop off and it must not have been too good for the inter workings of the phone as well. My present Nokia phone with the black polycarbonate case is a cool looking phone and it is solid as a rock. No chips or scratches. What a great phone. Now Nokia is giving you the line that the aluminum phone is a step up. What a joke. It is just cheaper to make. Their management team thinks they can actually convince us that ALUMINUM is better. Better for them but not for the consumer. My current phone is not too heavy it is perfect and know they have messed with a good thing.
Lufkin Industries (LUFK) zooms 37% higher to $87.78, just under GE's (GE +0.4%) acquisition offer of $88.50/share, which represents a 38% premium to Lufkin's close on Friday. "GE (is) putting together (a) soup to nuts oil service company now because of U.S. drilling," Jim Cramer tweets. Shares in Lufkin's main rival, Weatherford International (WFT), +4.15%. [View news story]
Does anyone have any opinions/thoughts on how this will affect WFT. I see it gain over 4% in pre-market trading, but that is not much of a long-term indication.
I stand corrected. It appears it has just lost that 4% pop.
Judge Barbier deniesBP's request to stop Gulf of Mexico oil spill payouts under the 2012 settlement with business and individuals. BP claims the oil spill fund's process for handing out money could cost it billions of dollars. [View news story]
Barbier said the settlement anticipated that "false positives" or "absurd results" would sometimes occur. That's fine, it's likely that there are those out there that would file such claims, however there should be an investigation on situations where it appears there are unjust filings and if someone is found guilty of such a crime they should be punished 'SEVERLY". Our courts need to set a precendent, so those who are tempted to act in such a fasshion will think twice before looking for fast illegal compensation for loss. Our government needs to take a harder stand on other punishable actions such as identity threft, robbery etc. Criminals will not be affected unless they know that there are stiff consequences.
Weatherford International (WFT) +1.4% premarket after saying it is filing with the SEC its 10-Q forms for Q2 and Q3 2012 as well as an amended 10-Q for Q1 and FY 2011. WFT has been hobbled by a number of accounting-related issues arising from an audit dating back several years. [View news story]
Let's see if it can rebound from their accounting set back and move forward. At one time Mr Cramer was "yelling" buy buy buy. He had the CEO of the company on his show and acknowledge that they were investing in their company where other service providers were holding pat. Jim C. than jumped off the wagon and pronounced them the "worst player" in town. We know how wishy washer Mr. C. is. Let's hope that WFT bounce back. I would like to know one thing. How can GE pay no tax and WFT now pays around the 40 % mark. ?????
I think GE should scope up WFT and remove their tax burden. Any comments.
BP's temporary ban from new U.S. government work now includes some wiggle room for the Defense Department: The military may buy fuel at certain commercial airports where BP is the sole provider or “when no other refueling option will meet the mission requirements,” according to the Defense Logistics Agency. The exception seems to suggest BP is "too big to suspend." [View news story]
Let's revisted EXXON Mobile. They are the real scum bags. An American Company that screwed us royalty. No pun intended. BP has come to the table and paid a great price for their mis-doings and have set the bar for the other energy companies to heed and follow. Enough is enough. Blue Collar pensioners in England depend on BP's existence. If it was American workers than we would not be so harsh an unreasonable. They have paid a great deal and more is to come.
Heckmann Corporation: An Exciting Year Ahead [View article]
A company that should appease and accommodate the environmentalist position on pursuing the fracking endeavor in a well thought out conservative approach. We need to explore and capture our Natural Gas reservoirs, so let’s to do so, but use companies like HEK to keep the harm down to a reasonable level.
Oil-Field Services: Analysis And Outlook [View article]
No reply as of yet by Mr. Gue to SSGAJ and content seeker request to reply. MID 20'S target ... We are hovering around 10. What do you see that no one else does???
I second this comment posted by cardinallen. Cramer is overrated! I believe he somehow has an agenda where he is driving the market in the short term and making money somehow. Someone should look hard and long into his investment relationships.
Hal has been a dog of a stock for the past two years. It fluctuates like the weather. Appears to go up when articles such as this appear and down when reality sets in. I just sold off shares the other day at 30.55 and picked up WFT at 9.04. I feel that WFT has a better upside. Most of WFT issues are based on their inability to produce an accurate financial statement. One of the few companies who takes a hit when it's revenues are up. Still believe it has higher upside than HAL. They have been punished, but appear to have righteded the ship. Perhaps they can focus more on their business model at this point.
Oil-Field Services: Analysis And Outlook [View article]
Mr. Gue what the hell are you smoking? This stock has been a dog since 2009. You will be dead and gone before this stock turns around and you appear to be in your forties going by your picture, unless that doesn't reflect your age as your analysis does not reflect this companies health. If you are going to put your John Hancock on rub age like this, please elaborate why you think the stock deserves mid 20's. Apparently WFT has been falsifying their strength for a long time. What makes you think a mid 20 price is justified or are you just protecting someone's interest. I would think a jump of 15 points would need a more quantified analysis than just noting accounting woes!!!! WFT keeps promising that they will produce an acceptable quarterly statement for the past 1 1/2 years and they still haven't. Their CEO is lame and dishonest. I can't see how they are not financially liable to their long position stock holders. Is there no integrity in the market place!
Below is your statement: Let's see if you give a more thorough and professional reply:
However, management must also effectively address the long-standing tax accounting issues that have plagued the firm in recent quarters. That Weatherford International won't report results until Nov. 13 suggests that the firm is working to finalize these accounting statements. Resolving these accounting issues could help the stock rally into the mid-$20s per share.
BP says active cleanup operations are ending in Mississippi, Alabama and Florida after a three-year effort to repair the Gulf of Mexico shoreline after the 2010 oil spill. BP says it has spent more than $14B and 70M personnel hours on response and cleanup activities, and the Gulf is returning to the condition it would have been in if the accident hadn't happened. [View news story]
Should there be a cap on oil spill payouts? A group of accounting professors essentially says yes and is backing BP's fight to cap the U.S. oil spill compensation payouts it must fund, which threatens to add billions of dollars to its bill for the 2010 Gulf of Mexico oil spill. "Identifying revenues and expenses requires more than a mere consideration of cash receipts and disbursements," the profs say. [View news story]
Should there be a cap on oil spill payouts? A group of accounting professors essentially says yes and is backing BP's fight to cap the U.S. oil spill compensation payouts it must fund, which threatens to add billions of dollars to its bill for the 2010 Gulf of Mexico oil spill. "Identifying revenues and expenses requires more than a mere consideration of cash receipts and disbursements," the profs say. [View news story]
One man can notbe put into the position to assess and approve the claims.
The deadline for claims against BP related to the 2010 Gulf of Mexico oil spill is 11 months away, but the overseer responsible for paying the claims says he is already bracing for a late surge in filings. Of more than 165K claims filed as of May 15, nearly 25% have been determined eligible for payments worth ~$3.2B, and 200K claims seems likely before all is said and done. (earlier) [View news story]
Evleaks once more posts pictures of a new Nokia (NOK) phone ahead of its official unveiling. This time, it's the Lumia 925 (Catwalk), set to be introduced tomorrow in London. As expected, the 925 is built out of metal rather than the polycarbonate used for the Lumia 920 and 928, and is notably thinner than those phones. (earlier) [View news story]
Lufkin Industries (LUFK) zooms 37% higher to $87.78, just under GE's (GE +0.4%) acquisition offer of $88.50/share, which represents a 38% premium to Lufkin's close on Friday. "GE (is) putting together (a) soup to nuts oil service company now because of U.S. drilling," Jim Cramer tweets. Shares in Lufkin's main rival, Weatherford International (WFT), +4.15%. [View news story]
I stand corrected. It appears it has just lost that 4% pop.
Judge Barbier denies BP's request to stop Gulf of Mexico oil spill payouts under the 2012 settlement with business and individuals. BP claims the oil spill fund's process for handing out money could cost it billions of dollars. [View news story]
Weatherford International (WFT) +1.4% premarket after saying it is filing with the SEC its 10-Q forms for Q2 and Q3 2012 as well as an amended 10-Q for Q1 and FY 2011. WFT has been hobbled by a number of accounting-related issues arising from an audit dating back several years. [View news story]
I think GE should scope up WFT and remove their tax burden. Any comments.
BP's temporary ban from new U.S. government work now includes some wiggle room for the Defense Department: The military may buy fuel at certain commercial airports where BP is the sole provider or “when no other refueling option will meet the mission requirements,” according to the Defense Logistics Agency. The exception seems to suggest BP is "too big to suspend." [View news story]
American Company that screwed us royalty. No pun intended. BP has come to the table and paid a great price for their mis-doings and have set the bar for the other energy companies to heed and follow.
Enough is enough. Blue Collar pensioners in England depend on BP's existence. If it was American workers than we would not be so harsh an unreasonable. They have paid a great deal and more is to come.
Heckmann Corporation: An Exciting Year Ahead [View article]
Oil-Field Services: Analysis And Outlook [View article]
A Shout Out To Cheap Halliburton [View article]
I second this comment posted by cardinallen. Cramer is overrated! I believe he somehow has an agenda where he is driving the market in the short term and making money somehow. Someone should look hard and long into his investment relationships.
A Shout Out To Cheap Halliburton [View article]
Oil-Field Services: Analysis And Outlook [View article]
Below is your statement: Let's see if you give a more thorough and professional reply:
However, management must also effectively address the long-standing tax accounting issues that have plagued the firm in recent quarters. That Weatherford International won't report results until Nov. 13 suggests that the firm is working to finalize these accounting statements. Resolving these accounting issues could help the stock rally into the mid-$20s per share.
Brutal Competition In The Smartphone Space - Are There Any Winners? [View article]