Tony Hayward posts
FeedPosted Jul 27th 2010 4:30PM by Jon Ogg (RSS feed)
Filed under: BP p.l.c. ADS (BP), U.S. Steel (X), Valero Energy (VLO)

This was another day where the real closing verdict of red or black was unknown right up until the closing bell. The day looked very mixed from index to index and sector to sector. Consumer confidence came in weak again, and there is still mixed data on housing prices.
Here were today's closing bell levels:
Dow Jones 10,537.69 +12.26 (0.12%)
S&P 500 1,113.84 -1.17 (-0.10%)
Nasdaq 2,288.25 -8.18 (-0.36%)
Continue reading Closing Bell: Official Win, but Mixed Bag (BP, DPZ, X, VLO, RF, RMBS, NBG)
Posted Jul 27th 2010 8:30AM by Connie Madon (RSS feed)
Filed under: Employees, BP p.l.c. ADS (BP), Oil
BP's (BP) chief executive Tony Hayward will receive an immediate annual pension of £600,000 ($930,000) when he leaves in October. He will also receive one year's salary, plus benefits worth £1 million. He will be able to keep his rights to shares under a long-term performance scheme. Eventually, these could be worth several million pounds. Hayward's total pension benefits will total £11 million.
The BBC's business editor said that because Hayward was leaving by mutual agreement rather than being fired, the BP board felt it had "to honor the terms of its contract with him." His contract states that anyone who joined BP before 2008 can take their pension at age 50. Mr. Hayward is 53.
Continue reading BP's Hayward to Receive Almost $1 Million Pension
Posted Jul 21st 2010 11:30AM by Mark Fightmaster (RSS feed)
Filed under: Deals, BP p.l.c. ADS (BP)

BP (
BP) announced Tuesday that it
completed a sale of assets to Apache (
APA). The assets sold were in North America and Egypt and carried a price tag of $7 billion. Previous reports indicated Prudhoe Bay was up for sale, but it turned out not to be the case.
According to APA, which has a knack for purchasing older oil wells and squeezing some more money from them, this purchase was a "rare opportunity to acquire legacy positions from a major oil company." The company's CEO, Steven Farris, noted that the company "seldom have an opportunity like this in one o our core areas let along three," adding that Apache will add value to the assets "for decades to come."
Continue reading Apache Purchasing Some of BP's Assets
Posted Jun 18th 2010 4:00PM by Douglas McIntyre (RSS feed)
Filed under: Apple Inc (AAPL), BP p.l.c. ADS (BP), Oil, S and P 500, DJIA, NASDAQ

Very little happened in the stock market today, and the very little happened on very little volume. With the 4th of July only two weeks off, the slack action could last every Friday until Labor Day. The DJIA , NASDAQ, and S&P 500 hugged the flat line.
The numbers:
Dow 10,450.87 +16.70 (0.16%)
S&P 500 1,117.52 +1.48 (0.13%)
Nasdaq 2,309.80 +2.64 (0.11%)
Continue reading Closing Bell: Low Volume and Little Movement (BP, AAPL)