Fwd: [MedicalConspiracies] BP share plunge wipes billions off UK pension funds:

---------- Forwarded message ----------
From: <Rosegojda@aol.com>
Date: Thu, Jun 3, 2010 at 6:53 AM
Subject: [MedicalConspiracies] BP share plunge wipes billions off UK pension funds:
To:

I am passing on  Gerald's insightful comments and the Daily Mail article about the pension impact of the BP mess - another 'cost' being over looked

 

I have said since the first week to follow the money

 

BP is making millions from the use of its own toxic dispersant and they and Transocean have received massive insurance payments from their insurance holders - owned by the bankster bailout crowd who still refuse to show where the near trillion dollar bailout went and to whom...

 

I said to look for a merger of BP to increase monopolization and possible shift of Transocean whose senior executives have had military Intel connections for its entire existence and who moved to Switzerland only recently to dodge taxes and transparency and legal rules  - they even flagged that rig to a third world country

 

People are overlooking the massive food chain impact - the nightmare destruction of environment and endangered creatures is an evil crime - but what will fall out is not only the losses to those who live and work on the coast but much of the US Midwest chicken feed includes fish meal from the New Orleans area - thus possibly tripling the cost of feed and the increased use of GMA corn - another profiteer area of the petro chemical ag complex that has a stranglehold on the food and fuel and medical elements of US life today

 

Ike and JFK were right as were all the other who tried to warn of the growing fascism in America where the govt works by and for the corporations while continuing to crush the opportunities and dreams and freedoms of the individual - unless that individual has connections or is rich or powerful.

 

No one can explain why they have not employed more professional skimmers or stopped the use of toxic dispersants and why the live data from the multiple explosions and ALL the video feeds and the US Navy sonar and video images of the oil blobs have not been released

 

There have been staged clean up photo ops and inexperienced fisherman hired to deploy complex boom systems  - and there has NOT been a full scale dredging or berm building or barrier construction - why ?

 

NO massive attempt to rescue the endangered sea turtles or brown pelican eggs or to rescue the dolphins and other mammals dying excruciating deaths as the oil and dispersants damage and burn their lungs and skin and eyes

 

Hatcheries and rookeries and estuaries are being laid sterile and barren

 

Corral and sea grasses decimated - a major source of oxygen in out atmosphere BTW

 

Billions are being paid and made to drill the two dangerous slant - so called -  relief wells - with total environmental waivers by the way....

 

The major effort has always been directed to preserving the investment in the oil pipeline NOT the environment or the fishermen or the coastal communities

 

This is criminal and the list includes malfeasants by govt as well as corporate 'leaders' who will be protected by limited liability laws, shield laws, and their own secrecy and collusion; while the ambulance chasing lawyers will profit and connected crony contractors will get the clean up and recovery contracts

 

The US govt and military deployed more assets to clean up and protect the coast off of Kuwait and Dubai then they are on our own gulf and its dying treasure of sea life

 

NOTE - an area bigger in size than 29 of the US states is now off limits to fishing and that  area -- over 75,000 square miles - 32 % of the gulf -- it  is now being turned into a dead zone of toxic dispersant  and crude oil

 

Maybe Obama knows he is a lame duck with the citizen issue and maybe that was always the intent

 

We need to find who in the legal world and scientific world  - where sadly most are all beholden to govt coffers for their grants and legal business and court access and their licenses and jobs - who has the courage to expose this ongoing crime and break up the crime syndicate that has taken over this nation and driven this one powerful land proud nation to increasing ruin and bankruptcy and fascist control

      Peace Hugs and Purrs,
carolyn rose goyda
Missouri, USA
rosegojda@aol.com

 

---

From: gerald

Sent: 6/2/2010 10:21:29 A.M. Central Daylight Time
Subj: [ BP share plunge wipes billions off UK pension funds:

 

Obama keeps saying B.P. will pay for the clean up, hopefully that will also include compensation for the people around the coast who are losing their jobs/businesses, but how will he manage to carry out his 'hollow' threat ?

 

The share holders, who are all collectively responsible as they are all part owners of B.P., are now selling their shares, pulling out.

The company looks liable to collapse completely, so ''voluntary liquidation' is on the cards. Its a limited liability company, so the responsibility to pay out is only valid whist they have liability, when he liquidise they shed all liability. And the main owners can open up new businesses the next day, which will include capitalising them with money left over from B.P.

 

Then Obama can only sue the leading members of the company - personally, but only if they/he can prove negligence, that it was not just accidental.

 

So the longer it goes on, the more time Obama gives them to ''escape'', he's left all the doors open. Surely as a leading member of a capitalist government he knows something about capitalist law ?

They now predict that the spill may continue till August, the repercussions of the effects on Pensions in Britain will also affect the share prices, it may even lead to a call for boycotting B.P.s filling stations by the public.

 

Obama will only gain anything from B.P if he/the government act immediately [ He seems determined to be a one term President, ostensibly with full agreement of the Democrat party.] to seize all the drilling/pumping licences from B.P. throughout the USA, which can then be ''auctioned' to any other company. They must also be prepared to seize any and all property of B.P. wherever they can. ..immediate effect is imperative........G.A.

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http://www.dailymail.co.uk/news/worldnews/article-1283338/BP-oil-spill-crisis-deepens-US-starts-criminal-probe-share-price-plunges-17.html#ixzz0pgElik6C

BP share plunge wipes billions off UK pension funds: Spill crisis deepens as U.S. starts criminal probe

By David Gardner.... 2nd June 2010

Billions wiped off the value of pension funds

BP's market value falls 17% in just one day

Company to promise shareholder dividend

Billions of pounds were wiped off BP's market value yesterday as the beleaguered company battled to shut down its massive oil leak in the Gulf of Mexico.

Speculation over BP's future mounted after its share price fell 17 per cent when London's markets opened after the holiday weekend.

Although the price recovered in the afternoon, £12billion was wiped off the value of its shares.

Billions of pounds have also been wiped off the value of pension funds due to the extraordinary decline of one of Britain's biggest companies - which is a key stock for many UK pension fund investments.

This share fall will inevitably leave Britain's pensioners poorer.

Alan Smith, pensions expert and chief executive of financial planning firm Capital Asset, said as well as being a disaster for BP it was also a disaster for pensioners.
'Most pension funds will undoubtedly have exposure to BP an will be affected by this,' he said.

'If the company were to halve in value this could lead to pension values going down by one or two per cent.

'Pretty much every pension fund in the country owns a bit of BP and it has now fallen some £45billion in value.'

He also warned that the funds would sink even further as the markets continued to struggle.

The share collapse means a £15,000-a-year pension will be cut by up to £400 a year with possibly worse to come.

Despite the plunge in BP's value, the company is still expected to promise shareholders their annual dividend will be maintained. Last year the company paid out more than £10billion.

The news came as the U.S. government launched a criminal probe into the oil spill. Federal agencies, including the FBI, are participating in the probe and 'if we find evidence of illegal behaviour, we will be forceful in our response', U.S. Attorney General Eric Holder said.

BP will begin a new and risky plan to funnel oil from the well to the surface today.

Robots will begin cutting through the top of the well's lower marine riser package, and it could take up to 72 hours to get the containment device operational.  

Damage: A map from the National Oceanic and Atmospheric Administration shows the size of the spill. Darker areas represent a thicker concentration of oil in the water

 

Yesterday's results meant the company's stock has fallen £42billion - more than a third of its value - since the fatal oilrig explosion six weeks ago.

With no end to the environmental nightmare in sight, some analysts are predicting BP may not survive.

'This situation has now gone far beyond concerns of BP's chief executive being fired, or shareholder dividend payouts being cut - it's got the real smell of death,' said Dougie Youngson, oil analyst at Arbuthnot Securities, a London-based investment banking firm. 'The key question is now "can BP survive?"

'We are very negative on the prospects for BP and this situation has a real possibility breaking the company.

'Given the collapse in the share price and the potential for it to fall further, we expect it could become a takeover target - particularly if its operating position in the U.S. becomes untenable.'

The blue chip heavyweight's decline dragged the wider market down in London, with the FTSE 100 falling 108.7 points to 5079.7.

BP boss Tony Hayward has vowed to clean up 'every drop' of oil. But the calamity has cost the company up to £700million and the eventual bill is expected to top £15billion if the leak continues into August as expected.

The London-based firm has received 30,000 insurance claims and made 15,000 payouts totalling £30million.

After abandoning the doomed top kill plan at the weekend, BP engineers were working yesterday on a new 'cut and cap' operation to siphon some of the 800,000 gallons of oil a day gushing from the undersea well up to tankers on the surface.

The initial step to sever the ruptured pipeline was expected to go ahead late last night or this morning to make it easier for a snug-fitting cap to be fitted over it.

Remote-controlled robots were being used to carry out the tricky operation.

But the White House has warned that if this latest venture fails, it could result in boosting the flow of crude by 20 per cent by removing resistance the pinched pipe may have created.

The one solution that seems likely to work - drilling relief wells to intercept the oil below the damaged well - won't be completed for two months.

About 120 miles of Louisiana coastline have been contaminated by slicks and tar balls and a quarter of fishing areas have been closed off.

With hurricane season about to hit the region, residents fear the oil could be washed inland.

President Obama yesterday vowed again that BP would pay the financial bill for the 'greatest environmental disaster of its kind in our history'.

 http://www.dailymail.co.uk/news/worldnews/article-1283338/BP-oil-spill-crisis-deepens-US-starts-criminal-probe-share-price-plunges-17.html#ixzz0pgElik6C

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