‘Reasonably High’ Chance BP Files for Bankruptcy
Remember, the business of business is business. It has nothing to do with cleaning up oil spills to make some backwards southerners happy. Certainly not to give two flying shits about the “environment.” Whatever the hell that is.
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Let’s say you’re advising BP. What would you tell them to do?
I’d advise them to explore the option of bankruptcy. I only know BP from public information. BP has a lot of cash and the ability to generate huge amounts of cash. But remember, just because BP can pay claims doesn’t mean they should, or that they will, given that their primary obligation is to their shareholders.
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