Thursday, June 24, 2010

It Appears Boycott BP Movements Are Counterproductive!

I actually have been saying that for some time. I KNOW NOT POPULAR.
From King Instapudit

UNEXPECTEDLY! ‘Reasonably high’ chance BP files for bankruptcy.
There is a reasonably high chance that BP could file for Chapter 11 bankruptcy in the next few years, or even months, and the result would be an “absolute horror” for the government, according to a bankruptcy expert.
Peter S. Kaufman, the President of investment bank Gordian Group and head of the firm’s Restructuring and Distressed M&A practice, told me that if he had BP’s ear, “I’d advise them to explore the option of bankruptcy.” If he had the government’s ear, he’d tell them to stop berating the company
to the point where BP would find it appealing to use bankruptcy to limit its liabilities.
Berating is what they do best.
Posted by Glenn Reynolds at 8:38 am

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