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June 2008
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The U.S. Supreme Court voted today to limit punitive damages in the Exxon Valdez case to no more than $507.5M, about 10% of what a jury originally awarded in the case. Do you agree with the Court's decision? 15 CommentsLeave a comment |
I do not agree with the decision. Punitive damages are meant to punish; half a billion dollars to Exxon is chump change. The original amount might have pinched a bit; the interim amount that much less.....this amount can come out of the bribery slush fund, excuse me, the GOP campaign contributions Exxon will really not need to bother making this year as the GOP is toast.
Exxon's liability reduced down to a paltry 5 million? Yet today Master Card was ordered to pay American Express 1.8 BILLION dollars for discouraging banks from issuing American Express cards.
Destroy a coastline and it's economy, and you get 500 million dollar fine.
But mess with a major financial institution, and it will cost you 1.8 billion.
What does that say about big business priorities in America?
Chris Chaffee
Hauser Lake, ID
Exxon's liability was reduced down to a paltry 500 million? Pathetic, since today Master Card was ordered to pay American Express 1.8 BILLION dollars for discouraging banks from issuing American Express cards.
Destroy a coastline and it's economy, and you get 500 million dollar fine.
But mess with a major financial institution, and it will cost you 1.8 billion.
What does that say about big business priorities in America?
Chris Chaffee
Hauser Lake, ID
I'm all for punitive damages. However, what human effort to repair the damage has been done and I think 'punishing' EXXON is like slapping ourselve's in the face. Ultimately we'll pay for it.
No , I do not agree with this ruling ! Exxon has dragged this for many years , Exxon has proffited from the prices we pay at the pump .
This is SOOOOO wrong !!!
At a time of record profits, allowing EXXON to slide after obliterating peoples lives for years is an incentive to corporate America to ignore laws, intimidate people and increase profits at the expense of those not members of the humanity.
Burn on EXXON, burn on.
At a time of record profits, allowing EXXON to slide after obliterating peoples lives for years is an incentive to corporate America to ignore laws, intimidate people and increase profits at the expense of those not members of the humanity.
Burn on EXXON, burn on.
At a time of record profits, allowing EXXON to slide after obliterating peoples lives for years is an incentive to corporate America to ignore laws, intimidate people and increase profits at the expense of those not (yet) members of the humanity.
Burn on EXXON, burn on.
Sorry for the repeat, I was kinda upset
EXXON must have some very strong connections to get it their way. They had the largest profit in history for any US company in the 1st qtr of 2008 - over $11 billion. They beat their own record profit of the 4th qtr in 2007. It will be very interesting to see if they set a new record for the 2nd qtr profit that ends on June 30th.
They should also be required to pay punitive damages for stalling the award in the courts for about 19 years plus interest calculated for 19years.
They should give out prepaid gas cards to us instead of congress trying to pass an excess profits tax.
Unfortunately, citizens have gotten what they voted for (the majority vote)... the Neoconservatives (aka, republican controlled government: president, congress, supreme court). The Supreme Court, controlled by the Republican appointments, was taking care of the oil companies... what's so surprising?
The federal government has been made into a corporate office by the Republican controlled government... it will take decades to undo all they have done over the decade.
Exxon gets away again! When will this country learn! It will never be fair with the profit mongers controlling the governmennt!
Accidently I purchased from Exxon 2 months ago since Valdez.
Thank you all you NeoCons and right wing religious nuts. Thank you for letting the Bush regime reign once again by voting him in for a second term. I blame you for the economy, gas prices, everything!!! This is what you voted for so this is what you get! Good job, thanks. Next vote just stay at home and watch TBN!!!
$500M is nothing to a company like Exxon with the Billions they are making. A mere slap on the wrist.
BTW- Cordova is pronounced 'Cor-doe-va'
EXXON wins, Cordova loses. I feel that it is highly unfair that the Supreme court voted today to limit punitive damages in the Exxon Valdez case. What are they thinking? The damage was caused by EXXON and they should have to pay the full amount. this court is the Supreme court of big business interests!