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More BP Annoyance
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GP Racer
 
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More BP Annoyance - July 8, 2010, 07:34 AM

Pensions weigh options from BP spill - Yahoo! Finance

Synopsis: People crawl out of the woodwork to sue BP for the drop in stock price.

First Rule of the Stock Market: Don't invest anything you can't afford to lose in stocks.

Discuss.


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July 8, 2010, 07:37 AM

Quote:
The legal argument likely will center on whether BP workers were allowed to take excessive risk by having too much money in company stock
Um, what?

Shouldn't it be the employee's choice as to what and how much to invest in?

Man, people need to learn to take responsibility for their actions rather than trying to pass the buck.


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July 8, 2010, 07:47 AM

Quote:
Originally Posted by ClemsonJeeper View Post
Um, what?

Shouldn't it be the employee's choice as to what and how much to invest in?

Man, people need to learn to take responsibility for their actions rather than trying to pass the buck.
I once saw a picture of Whitney Houston on .net and now I'm addicted to crack. You're so sued.
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July 8, 2010, 07:54 AM

Yep. When BP stock was skyrocketing due to record oil prices and gas companies setting new profit margin highs for an American company where the employees worried about risk then?

I completely understand no gas company is better than the others.. but you have to understand the business you work for and the environment it operates in.
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July 8, 2010, 08:31 AM

This is not about liability. This is about people being angry that they lost money, and wanting to get it back.

The real question here: Is the company liable to offset risk to employees from their own stock market choices?


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July 8, 2010, 08:42 AM

Quote:
Originally Posted by B View Post
This is not about liability. This is about people being angry that they lost money, and wanting to get it back.

The real question here: Is the company liable to offset risk to employees from their own stock market choices?
Easy answer, NO, there is no obligation, read your prospectus, past performance does not guarentee future results or something like that. These lawsuits won't lead anywhere, just waste of time.


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July 8, 2010, 09:44 AM

LMAO!
People still investing in stocks and the companies thinking the whole game isn't rigged.

Unless you can prove fraud or intentional misleading statements, go punch sand.

Stocks aren't like Bonds. Stocks, you put your money on the table and spin the wheel. Sometimes you're a winner - sometimes you're a loser.

The thing about stocks is that there's about a gazillion ways (or causes) to lose money and only 3 or 4 ways to make money - so already the probabilty of you making money is against you.

At least with Bonds you're guaranteed a set % gain on your investment, and should the whole thing go belly up you'll be the first in line to claim and remaining assets vs. riding the back of the bus with stocks.



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