The Gift That Keeps On Giving

Do you hate someone who is always right? If so, you hate the Smartfella. I can’t help it. There actually was an occasion where I made a mistake. I had come to the conclusion that I had made a mistake but, as it turned out, I had not made a mistake. My mistake was thinking I had made a mistake.

Boy, am I glad that first paragraph is done with because I was getting confused.

 

Back on 2/19/13 I published a Blog Posting (lagniappe link below) that almost dared to say I was feeling sorry for BP because they had become the Federal Government’s Gift That Keeps on Giving.

 

Another “Final” (there’s that word again) Agreement has been reached for BP to pay another $18,700,000,000. Quoting ABC News...

“Trying to close the books on the worst offshore oil spill in U.S. history, BP agreed Thursday to provide billions of dollars in new money to five Gulf Coast states in a deal the company said would bring its full obligations to an estimated $53.8 billion.”

 

Do you see the ominous word for BP? It’s “trying”. Trying means it is not Final (there’s that word again).

 

While we all know that ABC never gives us bad information, the Fella often quotes more than one source to prove his point. My local newspaper tells me...

“BP will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history.”

 

Do you see the ominous words for BP? It’s “nearly all”. Nearly All means it is not Final (there’s that word again).

 

I’d be willing to bet you dollars to donuts that, when they saw the Omnious Words above, umpteen lawyers throughout The Fruited Plain texted each other from their Palatial BP Mansions... “Yahoo! The Ominous Words are in there!”

 

Hey, BP, count your bleesings! The Exxon Valdez ran aground on March 24, 1989 & their Litigation Headaches show no signs of coming to an end. At least you are flirting with Finality.

 

Would I kid u?

Smartfella

 

Lagniappe: The link to my prior blog posting about BP... http://forii.blogspot.com/2013/02/the-mother-of-all-revenue-enhancements.html

 

Lagniappe #2: If you are a long time reader of my Foolishness, you knew this was coming... $53.8B is not as small as $53.8B looks like it is. This is 53.8 Thousand Million Dollars & a Million is a Thousand Thousands. That’s a lot of Palatial Mansions.