Wednesday, June 25, 2008

Exxon's Supreme Bonus

In case you didn't read this in the paper today, but the Supreme Court Decided to hand a sizable gift to Exxon today - not much unlike what you do when you fill up your tank with their gas, but much bigger.
The U.S. Supreme Court on Wednesday overturned the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska.

The nation's highest court ruled that the punitive damages should be limited to an amount equal to the total relevant compensatory damages of $507.5 million.
Hmmm, the Fat Cats just got fatter:
It took the company just under two days to bring in $2.5 billion in revenue during the first quarter of 2007.
Nice for them. What does that mean for us, and the people of the great State of Alaska who have been paying for the Valdez incident since it happened?


Anonymous said...

On the bright side

When one of your oil tankers runs aground, you're covered.

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