Wow, sure seems like Ken’s getting defensive down in the Gulf… Defending himself against accusations that interim claims are not being paid, or are not enough, Ken Feinberg said, “I just think people should move on already. I mean, this is not a lifelong operation…I have no objection to people taking the interim payments, but I do think that there should be a recognition that … Continue reading Yep, its still the fishers fault, part 17…
Ken Feinberg announced yesterday the oil spill fund has paid out $5 billion dollars to claimants to ensure the entire Gulf Coast region is made whole, and considering that British Petroleum put $7 billion dollars into an escrow account at the behest of Barack Obama and all things mea culpa, well kudos to you Ken! Damn good show! $5 out of $7 billion dollars spent … Continue reading 25% of $20 billion dollars is an F…for Feinberg
Ken Feinberg, in an article from yesterday’s Times-Picayune, reports the pace of payments by the GCCF have improved, sped up and are finally hitting their stride. In the article by David Hammer, it is reported the average amount of final payments have increased, as has the percentage of final payments paid, also, the GCCF has processed 95% of the 300,000 claims that were filed before … Continue reading Kenneth Feinberg “says” things are picking up…well, Ken “says” a lot of things…
Hey, I thought this whole oil spill deal was all kinda, you know…over. At least that’s the impression I got watching all them there sparkly British Petroleum commercials, but man, over the past two days, the news has been flying pretty serious again in the Gulf, and between you, me, the courts and the water…I think this has just begun…Maybe I just got distracted by … Continue reading And so it begins: Year Two…
In a recent article about the $20 billion dollar escrow account and claims process, Ken Feinberg estimated that after all is said and done, he will have paid out 6 billion of the BP Oil Spill trust fund, and he will then return the remaining $14 billion dollars to British Petroleum. These are surprising numbers, especially when you consider the amount of displeasure and suffering in … Continue reading $14 Billion Dollars Returned to BP, Feinberg Estimates
What say you…good news first? Okay, the good news: British Petroleum, in compliance with Judge Barbier has given their official decision on whether they will or will not seek to use the $75 million dollar liability cap as a way to contain the financial bleeding. They have opted to fulfill at least one promise and not use the cap. They will pay all judgments made … Continue reading Good News and Bad News…
On Monday, British Petroleum finally ponied up $52 million dollars to assist providers throughout the Gulf Coast in delivering mental health services for residents in need. Two studies, one by the Ochsner Medical Group and the other by National Center for Disaster Preparedness have both found Gulf Coast residents to be highly susceptible to symptoms of anxiety, stress, depression, PTSD and substance abuse, similar to … Continue reading British Petroleum’s $52 Million Dollar Mental Health Grant Leaves People Suffering
From Kenneth Feinberg, soon to be arbitrator of the $20 billion dollar fund during a congressional hearing on July 21st – “If you start compensating purely mental anguish without a physical injury — anxiety, stress — we’ll be getting millions of claims from people watching television…you have to draw the line somewhere. I think it would be highly unlikely that we would compensate mental damage, … Continue reading Update: The State of Mental Health in the Gulf Coast…Here Come the Numbers!
From the Telegraph: This week is likely to see the start of BP’s fightback, beginning with the announcement of $5bn in profits for the second quarter of 2010 and the resignation of Hayward – a symbolic break with the steady drip of bad news that has bombarded the company since April 20. While I do understand the necessity of British Petroleum staying afloat so they … Continue reading Some Perspective…BP Set to Announce 5 Billion Dollar Profit in 2nd Quarter
Used to be in Southern Louisiana, nobody ever had to worry about hunger or a lack of protein, just go catch something out of the water. But as this AP article points out, those days have been suspended and for families, at the worst time of the year – their children are home from school. During the summer, everybody eats at home, there are no reduced price … Continue reading Fishing Families…rising stress, rising grocery bills…
Drake Toulouse: Photography and Words 