Wednesday, June 16, 2010

Rule of law? Not important. Contracts. Nope.

BP Cancels Dividend to Set Aside $20 Billion for Spill Costs.

I have no problem with the board deciding to suspend their August or November dividends, nor any other future payments.

It's the canceled dividend--that was declared by the board this past April 27 for holders of record as of May 7--that I find infuriating.

Society works better when we cooperate with each other. That includes making and keeping commitments. Ignoring contracts and laws destabilizes community.

Does this mean that my parents can claw back the taxes they paid which were allocated to the Vietnam War, since Robert McNamara said it was all just a mistake in hindsight? A lot more people were hurt during that crisis than the one currently spreading in the Gulf of Mexico.

Pure idiocy.

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