“Given recent volatility in BP share price, I’m told that information related to top kill is now considered stock-market sensitive, which means it has to be managed under disclosure rules for the London and N.Y. stock exchanges,” the BP media official said in an e-mail message. “In a nutshell, that means all investors must be provided information on an equal basis. That precludes me from sending you updates as various aspects of the operation unfold.” — today’s New York Times. Readers can correct me if I’m wrong, but I believe securities law itself, and not merely private exchange rules, currently constrains companies’ release of stock-market-sensitive information.
P.S.: Ira Stoll, better informed than I about the background, makes the same point: “I agree with Mr. Carr that this is a problem, but his quarrel should be with the SEC and Reg FD, not with BP.”
One Comment
Speaking of PB’s disclosures, one of our wonderful congressmen was informed that all flow estimates from the Gulf of Mexico blowout came from the government run unified command. None=the-less the congressman berated PB for low balling their figures.
Then v-chip Markey complained that the contingency clean up plans for the oil companies were virtually identical. How many ways are ther to clean a bird or scoop up oil. Markey is a disgusting lens hound.
Waxman has passed trough a law to protect children from the lead in an alloy used for air values in bicycle tires. His idiocy is breathtaking, yet he can and does badger witnesses.
Lastly, although I am found of our President, I sense that he can not understand the blowout. Roughly one quarter of a million people died in each of the Dec. 2004 tsunami and the recent Hati earthquake. The people in the Gulf not that bad off in comparison. The oil on the water will break drown from the ultraviolet radiation in sunshine and biological actions. Plenty of booms and manpower has been thrown at the problem. The key, of course, is to capture a high enough fraction of the outflow from the blowout. The anti oil policies of the President are just plain stupid.
I am sick and tired of those, including our President, who want to pick clean BP’s carcass. Enough already.
By the way Senator Harkin is starting a process of generating false claims, as was done recently with World Center. He is a dolt and then some.