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    BP Chief Executive

    BP Chief Executive Tony Hayward will step down as chief executive , the
    company announced Tuesday, amid ongoing outrage over the oil spill in the
    Gulf of Mexico.
    BP said Hayward will be replaced by American Robert Dudley effective Oct 1.
    Like Hayward, Dudley is a long-time BP employee with more than 30 years in
    the oil business. A chemical engineer by training, Dudley was put in charge
    of the day-to-day leadership of the Gulf Coast clean-up operation in June.


    ‘Bob' started is carrer in Amoco in 1979 then going to BP in 1998, in both
    cases his function was superviser exploration activites in Russia, however
    he had to leave rather abruptly after being acused by the soviet
    authoraties of spying.According to BP his biggest advantage is the fact he
    grew up in the state of Mississipi were part of the spill acurred.
    BP said Hayward will receive a year's salary amounting to $1.6 million but
    further details of his severance package were not disclosed.
    According to BP's most recent annual report, Hayward amassed a pension
    worth nearly $17 million in his 28 years of service, which is expected to
    be doled out in annual payments of more than $900,000.


    The company also plans to nominate him as a non-executive director of
    Russian oil and gas venture TNK-BP.There are also plans for Tony Hayward to
    be nominated for a executive director position in ExxonMobil Europe Operations
    based in London.


    The announcement of the change in leadership came as BP reported a
    second-quarter net loss of $17.2 billion. The heavy loss was due to a $32.2
    billion charge the company took related to the oil disaster.
    With Dudley based in London, the overseeing of the clean-up effort will be
    headed by BP America President Lamar McKay.The company has already committed $20 billion to compensate individuals and
    businesses affected by the spill. But it still could face billions more in
    fines and legal costs associated with the explosion.

    Labels: ,

    written by ABSTRACTMIND @ 12:14 pm, ,

    Hostile takeover of BP.

    The final consumer price for petrol (gasoline) for the motorist in one ofEurope’s oldest economies, Portugal continues to defy all reasonablelogic...Speculation is the method most used by oil companies such as Galp, BP,Repsol and Cepsa, also involved are the government and some local media, acartel of price fixing is used to place the final consumer price the sameall over the country.However there may be a change in the major players in the crude industry,BP is having an immensely challenging period to regain competitiveness internally and externally, they have now spent billions with the US spill, growth will remain subdued for some time, to be sure, BP weakness willbenefit other crude producers as is now the case ...ExxonMobil and Chevron have requested the U.S. government's clearance tomake a bid for BP worth about $150 billion, it was also reported that BP is looking to sell its stake in the United States' largest oil field, the Prudhoe Bay project in Alaska, to boost its clean up fund for the oil spill in the Gulf of Mexico.

    Labels: , ,

    written by ABSTRACTMIND @ 2:34 pm, ,

    Volatility and Stocks

    List of stocks whose Volatility has been increasing over the last 3 days based on the trading range between high and low prices .

    VZ - Verizon Comm
    AMAT - Applied Materials
    BRCM - Broadcom Corporation
    HD - HOME DEPOT INC
    MAS - Masco Corporation
    BK - Bank Ny Mellon
    CBG - CB RICHARD ELLIS GR
    LOW - LOWES COMPANIES INC
    NEM - NEWMONT MINING CORP
    LLY - LILLY ELI & CO
    GPS - GAP INC
    DD - DUPONT
    CHRW - C.H. Robinson World
    CRUS - Cirrus Logic, Inc.
    WYN - Wyndham Worldwide WI
    MT - Arcelormittal
    FDO - FAMILY DOLLAR STORE
    UNH - UNITEDHEALTH GROUP INC
    SBUX - Starbucks Corporation
    M - FEDERATED DEPARTMENT
    APL - Atlas Pipeline Part.
    HOLX - Hologic, Inc.
    LCC - US AIRWAYS GROUP INC
    KIM - KIMCO REALTY CORP MD
    EP - EL PASO CORP
    PPL - PPL CORPORATION
    CEPH - Cephalon, Inc.
    BBY - BEST BUY CO INC
    WLP - Wellpoint Inc
    IDTI - Integrated Device T
    PNC - PNC Financial Services
    PCX - Patriot Coal Corp
    KGC - KINROSS GOLD CORP
    MDT - MEDTRONIC INC
    WMB - WILLIAMS COS INC
    SWKS - SKYWORKS SOLUTNS
    MYL - Mylan Inc
    CMS - C M S ENERGY CORP
    DPS - DR Pepper Snapple G
    PHM - Pultegroup Inc
    STR - QUESTAR CORP
    DAL - Delta Airlines
    HSP - HOSPIRA INC
    COV - Covidien Plc
    SU - SUNCOR ENERGY INC
    AFFX - Affymetrix, Inc.
    AMGN - Amgen Inc.
    CCE - COCA COLA ENTERPRISES
    GPN - GLOBAL PAYMENTS INC
    SVU - SUPERVALU INC
    ILMN - Illumina, Inc.
    JCP - PENNEY J C CO INC
    PEP - PEPSICO INC
    XL - Xl Group Plc
    PDE - PRIDE INTL INC
    RDN - RADIAN GROUP INC
    ARW - ARROW ELECTRONICS INC
    CI - C I G N A CORP
    PIR - Pier 1 Imports Inc
    LPX - LOUISIANA PACIFIC CORP
    TJX - TJX COMPANIES INC
    AUO - AU OPTRONICS CORP
    BX - Blackstone Group LP
    AMLN - Amylin Pharmaceutical
    AES - A E S CORP
    PCAR - PACCAR Inc
    JEC - JACOBS ENGR GROUP INC
    ING - Ing Groep NV ADR
    FTO - FRONTIER OIL CORP
    ARO - AEROPOSTALE INC
    DNDN - Dendreon Corporation
    K - KELLOGG CO
    CAL - CONTINENTAL AIRLINES
    LM - LEGG MASON INC
    WM - WASTE MANAGEMENT INC
    DNR - DENBURY RESOURCES INC
    AVY - AVERY DENNISON CORP
    SPG - SIMON PROPERTY GROUP
    WBSN - Websense, Inc.
    JBL - JABIL CIRCUIT INC
    AEE - AMEREN CORP
    IACI - IAC InterActiveCorp
    CREE - Cree, Inc.
    SKS - SAKS INC
    AONE - A123 Systems Inc
    SLAB - Silicon Laboratories
    AMT - AMERICAN TOWER CORP
    BPO - BROOKFIELD PROPERTIES
    URI - UNITED RENTALS INC
    TE - TECO ENERGY INC
    KMB - KIMBERLY CLARK CORP
    XRAY - DENTSPLY International
    RMBS - Rambus, Inc.
    SFD - SMITHFIELD FOODS IN.
    WSM - WILLIAMS SONOMA INC
    SWC - Stillwater Mining Co
    TIN - TEMPLE INLAND INC
    CE - CELANESE CORPORATION
    CSE - CAPITALSOURCE INC
    CIT - CIT GROUP INC
    AGCO - A G C O CORP
    WAT - WATERS CORP
    PXD - PIONEER NATURAL RES CO
    HGSI - Human Genome Sciences
    ARM - ARVINMERITOR INC
    MBT - MOBIL TELESYSTEMS
    AVT - AVNET INC
    BYD - BOYD GAMING CORP
    NIHD - NII Holdings Inc
    LBTYA - Liberty Global Inc
    JWN - NORDSTROM INC
    VPHM - ViroPharma Incorporation
    AIV - Apartment Investments
    LMT - LOCKHEED MARTIN CORP
    TIVO - TiVo Inc.
    JLL - JONES LANG LASALLE INC
    VAR - Varian Medical Systems
    CPB - CAMPBELL SOUP CO
    IMAX - Imax Corporation
    SNE - SONY CORP
    ANF - ABERCROMBIE & FITCH CO
    ALB - ALBEMARLE CORP
    JDAS - JDA Software Group
    JOYG - Joy Global Inc
    PNW - PINNACLE WEST CAP CORP
    ODFL - Old Dominion Freigh
    RYL - RYLAND GROUP INC
    RRD - Donnelley (RR) & Sons
    PCP - PRECISION CASTPARTS
    WRB - WR Berkley Corp
    BMS - BEMIS CO INC
    AHD - ATLAS PIPELNE HLDING
    CLNE - Clean Energy Fuels
    TLB - TALBOTS INC
    QGEN - Qiagen N.V.
    VNO - VORNADO REALTY TRUST
    RL - POLO RALPH LAUREN CORP
    WRI - WEINGARTEN REALTY INVS
    LPL - LG Display Co
    CMC - COMMERCIAL METALS CO
    LEG - LEGGETT & PLATT INC
    MJN - Mead Johnson Nutrition
    GNA - GERDAU AMERISTEEL CP
    KMT - KENNAMETAL INC
    ONXX - ONYX Pharmaceutical
    AXS - AXIS CAPITAL HLDGS LTD
    KNX - Knight Transportation
    NGD - DRC RESOURCES CP
    SOLR - GT Solar International
    DTG - DOLLAR THRIFTY AUTO
    PRGO - Perrigo Company
    BIG - Big Lots Inc
    BRE - B R E PROPERTIES IN
    RS - RELIANCE STEEL & AL
    EQIX - Equinix, Inc.
    HTS - Hatteras Financial
    TAP - ADOLPH COORS CO
    SOHU - Sohu.com Inc.
    CRDN - Ceradyne, Inc.
    NVE - SIERRA PACIFIC RESOURCES
    NTRS - Northern Trust Corp.
    ROVI - Macrovision Corporation
    ELNK - EarthLink, Inc.
    ESI - I T T EDUCATIONAL SVCS
    ICLR - ICON plc
    TWI - TITAN INTL INC
    CVE - Cenovus Energy Inc
    DKS - DICKS SPORTING
    PSYS - Psychiatric Solutions
    PWE - PENN WEST ENERGY TRU
    PSS - Collective brands
    SDRL - SEADRILL LTD
    TCO - TAUBMAN CENTERS INC
    ZRAN - Zoran Corporation
    AMG - AFFILIATED MNGRS GR
    HRC - Hil-Rom Holdings
    XTXI - CROSSTEX ENERGY INC
    BID - SOTHEBYS HOLDINGS IN C
    ENR - ENERGIZER HOLDINGS INC
    SGEN - Seattle Genetics
    RBCN - Rubicon Technology Inc
    RCII - Rent-A-Center Inc.
    CLX - CLOROX CO
    THOR - Thoratec Laboratories
    BGC - General Cable Corp
    ENH - Endurance Specialty
    FMC - F M C CORP
    ARG - AIRGAS INC
    CIB - BANCOLOMBIA S A
    CPO - CORN PRODUCTS INTL INC
    BECN - BEACON ROOFING SUPP
    CETV - Central European Me
    SJM - Smucker JM Co
    NAV - NAVISTAR INTL CORP
    VQ - Venoco Inc
    VOLC - VOLCANO CORPORATION
    FINL - Finish Line, Inc.
    LAZ - LAZARD LTD
    AHL - ASPEN INSURANCE HLD
    MEND - MICRUS ENDOVASCULAR
    OKE - ONEOK INC
    HA - Hawaiian Holding
    ATHN - athenahealth Inc
    CNC - Centene Corporation
    WCRX - Wrner Chil Plc A
    LII - Lennox International
    GIB - CGI GROUP INC
    SMOD - SMART MODULAR TEC
    PBY - PEP BOYS MANNY MOE
    LULU - lululemon athletical
    SLF - Sun Life Fincl Inc
    RCI - ROGERS COMMUNICATIONS
    AAP - ADVANCE AUTO PARTS INC
    TRI - THOMSON CORP
    DDS - DILLARDS INC CL A
    PAAS - Pan American Silver
    MASI - Masimo Corp

    Labels: , ,

    written by ABSTRACTMIND @ 2:50 am, ,

    One of the most expensive in the World...

    The final consumer price for petrol (gasoline) for the motorist in one of Europe’s oldest economies, Portugal continues to defy all reasonable logic as Prices continue to go up.
    Speculation is the method most used by oil companies such as Galp, BP, Repsol and Cepsa, also involved are the government and some local media, a cartel of price fixing is used to place the final consumer price the same all over the country.
    The litre of petrol is at its highest in the last 18 months, this year alone prices have increased 12%.
    Regular 95 Octane in January 2010 was 1,295 Euros per litre, six months later the same litre has an inflated price of 1,495 Euros.
    This means that the motorist needs more 5, 05 Euros to fill a 50 litre tank...
    The last time prices were so inflated was in October 2008.when crude prices reached the $146 per barrel....
    These ridiculous prices affect all sectors of the crippled economy as there is a direct influence in company budgets as well as the average motorist who has less and less money ..
    According to World Watch decline in demand this year is expected to fall 16%...

    Labels: ,

    written by ABSTRACTMIND @ 2:48 pm, ,


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