Might BP p.l.c. yet be destroyed? [edited title]

[Try2B_Comprehensive]

I’m gonna let **JohnT **take this one:

@JohnT

No.

[Martini_Enfield]

@HRoark43

Any company that does the kind of damage that BP or Shell or Exxon did, should be held fully accountable for what they do.

I don’t disagree. What I disagree with is the OP’s assertion that some guy who works at a BP petrol station in Nowheresville, Indiana, or someone who works in the BP mail room is just as liable/deserves to be punished just as much for the Gulf Of Mexico Spill as whoever it was who did (or didn’t) do whatever it was that directly led to… well, the Gulf Of Mexico being full of crude oil.

[HRoark43]

@Martini_Enfield

I don’t disagree. What I disagree with is the OP’s assertion that some guy who works at a BP petrol station in Nowheresville, Indiana, or someone who works in the BP mail room is just as liable/deserves to be punished just as much for the Gulf Of Mexico Spill as whoever it was who did (or didn’t) do whatever it was that directly led to… well, the Gulf Of Mexico being full of crude oil.

Nah. The Government officials that looked the other way should go to prison alongside the CEOs of the private companies involved.

The cost of the cleanup should be primarily the responsibility of the corporation and the Government. But that brings up the damage done to shareholders (everyone from the top 10%ers to the Fireman’s retirement fund in Podunk) and taxpayers. Which will be non-trivial.

[Try2B_Comprehensive]

@Martini_Enfield

I don’t disagree. What I disagree with is the OP’s assertion that some guy who works at a BP petrol station in Nowheresville, Indiana, or someone who works in the BP mail room is just as liable/deserves to be punished just as much for the Gulf Of Mexico Spill as whoever it was who did (or didn’t) do whatever it was that directly led to… well, the Gulf Of Mexico being full of crude oil.

I think this line is a straw man. BP p.l.c. would disappear through the action of mergers and acquisitions. That would probably include some job losses, but it wouldn’t amount to firing every single person as some suggest.

This article covers the subject superficially. The subtitle is “Contrary to popular perception, M&A does not always cause job loss.” Here’s a quote:

employment losses are typically bigger when M&A involve firms in similar industries (19%) than when companies are from unrelated sectors (8%). Other studies suggest that:

–hostile takeovers are more conducive to losses across a number of countries;

–cross-border job losses are greater in manufacturing, according to evidence from Finland; and

–domestic mergers cause more losses than cross-border combinations in the United Kingdom, but this does not hold everywhere.

A lot depends on how it is handled. And of course none of the people in the Gulf got so much as a good reason why they lost their jobs. A greedy, reckless company didn’t much care for the provincials, and now my countrymen are out of luck.

One author claims the Gulf Oil Spill Job Losses Could Total 1 MILLION Over Next 5 Years. And it isn’t clear if he even includes all job losses or just those connected to the oil industry. Think we should just let 'em off the hook?

[Martini_Enfield]

@Try2B_Comprehensive

I think this line is a straw man. BP p.l.c. would disappear through the action of mergers and acquisitions. That would probably include some job losses, but it wouldn’t amount to firing every single person as some suggest.

This article covers the subject superficially. The subtitle is “Contrary to popular perception, M&A does not always cause job loss.” Here’s a quote:

All of that seems to be A) Stating the relatively obvious and B) Not refuting the point that a lot of people would lose their jobs as a result of mergers and acquisitions. One company I used to work for no longer exists, for example, and there are some of my former colleagues who didn’t actually lose their jobs, but ended up being effectively demoted, shifted to an inconvenient location, or having to do two people’s jobs as a result of a corporate merger.

One author claims the Gulf Oil Spill Job Losses Could Total 1 MILLION Over Next 5 Years. And it isn’t clear if he even includes all job losses or just those connected to the oil industry. Think we should just let 'em off the hook?

As the famous saying goes, “There are lies, damn lies, and statistics”. I’ve said before I don’t think BP should just be told “Don’t do it again, there’s a good petrol company” and be on their way. But I certainly don’t think the company deserves to be disestablished for the Gulf of Mexico spill either.

[LonghornDave]

Here is a timely article.

BP’s spill costs look manageable 8 months later