10-28-2010, 09:00 AM
Zouji Wrote:For the next few years there going to be facing a lot of law suits. Even the "State of Alabama" is planning on suing them immediately or if they don't pay within a reasonable time to sue them then. Depends on who gets elected to be the new Governor on Nov 2. I'm also going to assume that Florida, Mississippi, Louisiana, and probably Texas will be filing suits shortly as well.
The state government is hurting for cash so they are probably going to sue them for some ridiculous amount of money. If they do that then you can bet Mississippi and Louisiana will immediately do the same. That isn't even taking into account all of the personal and group suits that will follow.
So the stock may not pay dividends until all of these lawsuits are cleared up. But, I have no clue. I'm not a financial analysts.
Everyone and their mothers sued Exxon for the Valdez disaster and the company kept all of the cases grinding through the system for 15 years when they were finally required to pay a small fraction of what they were sued for. The same will happen here. You can't go up against Big Oil and expect to win. Oh and you can still go to Prince William Sound with a shovel and hit oil about 4 inches below the ground.