BP has just endured a record $17 BILLION loss in profits and is expected to spend at least $32 BILLION in cleaning up the Gulf. BPs share price dropped 40%. Not to mention, the previous CEO in office at the time of this oil spill as stepped down.
"As expected, BP reported the worst figures in U.K. corporate history," said ETX Capital trader Manoj Ladwa. "Despite the company going through significant management and structural change, the future still remains uncertain for the oil giant and BP in a year's time could be significantly different from the company today."
Peace out Tony Hayward!
No worries thought. Don't feel bad for the polluter. Under his contract, he'll have one year's salary, worth $1.62 million and a pension totaling $17.1 million to fall back on. *rolls eyes*
"The Gulf of Mexico explosion was a terrible tragedy for which -- as the man in charge of BP when it happened -- I will always feel a deep responsibility, regardless of where blame is ultimately found to lie," Hayward said Tuesday.
This is sooooo not a good time to invest in the oil industry.
*sticks out tongue*
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