Obama's first Oval Office speech to target BP - Macleans.ca

Obama’s first Oval Office speech to target BP

Speech will focus on redressing loss claims with BP’s $10.5 billion annual dividend


President Obama will use his first speech from the Oval Office to compel BP to compensate businesses and individuals for losses incurred from the oil spill in the Gulf of Mexico. Obama seeks to distribute BP’s $10.5 billion annual dividend fairly saying that the money should not be going to the stockholders, rather, it should go towards fishermen, oil workers and small business owners who haven’t received loss claims from the company. The nationally televised address, scheduled for tomorrow, prime-time, is part of a week-long campaign by the Obama administration to convince the public of a secure and effective presidential command.

New York Times

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Obama’s first Oval Office speech to target BP

  1. " …. the Obama administration to convince the public of a secure and effective presidential command."

    Margaret Thatcher: "Being powerful is like being a lady. If you have to tell people you are, you aren't."

    Interesting President the Americans have voted for the themselves. The Obama admin is like the mafia, 'nice company you got there, shame if anything happened to it'. Obama did same thing to Toyota.

    America is a nation of laws, supposedly, and I am certain the President does not have authority to direct private company on how to distribute dividends.

    • It isn't about forcing the company to do anything.
      It's about getting people to stop complaining about Obama not doing anything.

  2. Actually, Mr. Obama's outrage is directed at the shareholders rather than BP's executive team with his suggestion of dividend redistribution. The nightmare in the Gulf is NOT the fault of the shareholders; it is the fault of the team that "leads" the company. A better directed attack on the executives would be to disallow any further issuance or cashing in of stock options and annual bonuses until all of the bills are paid for the cleanup.

    Mr. Obama is just attacking the public who hold BP shares, often without even realizing it through their mutual fund or pension holdings.


  3. bergkamp is bang-on. That what you get when you elect an idealogue community organizer. It is laughable people accused Palin of no experience when this fellow devoted his entire life solely to political posturing. Villify big business at every opportunity–it pacifies the looney left.

  4. I also find it amazing that people would expect corporations to be held accountable for the consequences of their actions.

    Is this any kind of example to pass onto our children?