Claims Fund Chief Says BP Stalling on Payments to Oil Disaster Victims

July 26, 2010

  • July 26, 2010 at 2:23 am
    Tom says:
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    Maybe the system should be changed and instead of a (no) fault type fund, it should be a no proof fund. Claimants would be placed in a plexiglass booth and money would be floated around and they could get as much as the could grab in 60 seconds.

    Seriously, what did the Gov, and claimants, think, that these complex claims would take time to review to be sure the fraudsters, flim flammers, and cons were weeded out leaving more money to pay legit claims. Even a no fault PIP claim takes time to gather and review the meds and their nexus to an accident. Patience is needed on all sides.

  • July 26, 2010 at 2:24 am
    John says:
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    Jon,

    The winner of the greatest inability to think in these posts goes to YOU! If not for political posturing by the Big O, this entire issue would already be resolved. Also,this administration’s leadership is like a 6 year old trying to clean up spilled cool-aid, eg.. Knowing it needs to be done, but slowing the process prviding minimal effort and increasing the stains.

    By the way, where’s my settlement. I’ve had to read the shameful sell-out blogs of the liberal left about this spill and am traumatized that anyone could be so narrow.

  • July 26, 2010 at 3:18 am
    Sheltowee says:
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    Feinberg should be alarmed. BP will stall unitl N Korea strikes. Then they will pay nothing.

    They are not going to clean up any of the oil in the Gulf or elsewhere. It is not in their interest.

    They are paying lip service to keep us at Bay.

    When the War officially begins with a nuclear strike from N Korea and then Iran BP will be gone.

    THE CAP WILL BLOW and THE OIL FLOWS AGAIN. BUT WORSE.

    They did not use the Whale, because of cost and they don’t really want to clean up. THEY DON’T CARE. IT IS NOT IN THEIR POLITICAL INTEREST>

    THEIR INTEREST ARE WITH IRAN.

    WHAT DON’T YOU UNDERSTAND?

    DONT’T YOU SEE THE SIGNS?

    THE FACTS HAVE BEEN DISCLOSED.

    What to do now?

    GET OUR TROOPS HOME ASAP. NOW – TODAY!

    TAKE OVER THE CAP & SEAL PROJECT. BURY THE ENTIRE WELL.

    TAKE OVER THE CLEAN UP.

    AND GET WHAT EVER MONEY WE CAN FROM BP NOW AND FOOT THE BILL FOR THE REST.

    AND THIS WILL NOT BE ENOUGH TO STOP WHAT IS ABOUT TO UNFOLD.

    BUT IT WILL HELP US RESIST and MAINTAIN.

  • July 26, 2010 at 3:30 am
    Jon says:
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    John, I didn’t know that my general commnent in regards to the rambling hate and inability to think pertained to you, but I guess you read the comment and thought I was speaking directly to you.

    I guess you’re right John, if there was some right wing politician this whole thing would not be a problem. They could take care of the problem as well as they took care of Katrina right?

    It’s not about politics, it’s about doing what is right. Time and patience is needed on both sides to make the sound and logical choices.

    Settlement? You would ask for that. Want to take and keep your own, but get the benefits? What are you talking about?

    I guess you have all the answers huh?

  • July 26, 2010 at 5:02 am
    KG says:
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    Great article, Brian! I suggest everyone read that very insightful link you posted. Nice work

  • July 27, 2010 at 10:23 am
    Icee says:
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    I’m confused, and it probably because I don’t understand how stocks work, but if you own stock in BP and are suing BP how do you actually gain anything.

    It seems to me that any settlement (plus attorney fees) the stockholders get from BP would come from the profits BP makes. Wouldn’t this lower the dividends BP pays as well as lowering the value of the BP stocks you own? Because of the attorney fees it seems that you would actually lose more at least in the long run, than you gain from the settlement.

  • July 27, 2010 at 10:47 am
    wudchuck says:
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    “As a retiree and shareholder of BP, I depended on its dividend payment of $3.36/yr/share.”

    first of all, you accept all risk as a shareholder, that includes any losses on the dividends. now, you as a sharehold have the right to fire those who are at-fault for causing this incident. but you can never gain anything from being an investor. you were not misled about investing in the company. the company just did not do the proper safety procedures and wanted profit quickly instead of ensuring the safety of all. after the disaster of the Valdez, you would have thought the fed’s would have been a little more prepared. granted this event is huge compared to any previous spills. but i agree, we need to validate these claims. it be like going to court and having to wait your turn in line (wonder why our courts are already full of cases). definately we would like to have a quicker more streamlined system, but i don’t think bp was prepared for this nor was our Gov’t. so be patient, we just need to have our banks, lenders and all those folks in the background be patient for families to get help. then you would get help from them and then get money from the families in need.

  • July 27, 2010 at 3:27 am
    smartypants says:
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    political wags like you don’t really want answers or solutions. If things were easier, you’d have nothing to say. I for one believe this, your opinion is yours, like your a##hole, and both stink.

  • July 27, 2010 at 6:23 am
    Fish Man says:
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    Actually, I have 2 losses:
    (1)an immediate income loss of $.84/share/quarter due to suspension of dividends and (2) a potential loss of stock value (selling price vs purchase price). The stock still has value, just not as much at as when I acquired it, but the dividend income is gone. My point is there all types of lost income claims ranging from the local fishermen to shareholders, that must be sifted through in order to determine how each type will be handled and the ultimate cost to BP, that is the reason why the claims process can seem stalled. If BP were to declare a bankruptcy of its US assets (BP America, Inc.) all retired US employees could possibly loose their health care coverage. Which would give rise to another type of claim.

  • July 27, 2010 at 6:39 am
    jon says:
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    personal attacks? does that make you feel better?

    as i said before, it has nothing to do with politics. it is a massive mess and complicated.

    sometimes people hear (or in this case, read) what they want to hear.



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