Exxon asks reduction of Valdez damage award

[varkam]

25 Minutes Ago
Seattle Post Intelligencer
By DAVID KRAVETS

SAN FRANCISCO -- Exxon Mobil Corp. urged a federal appeals court Friday to erase the $5 billion in damages an Alaska jury ordered the oil giant to pay for the 1989 Valdez oil spill.

Exxon attorney Walter Dellinger told a three-judge panel of the 9th U.S. Circuit Court of Appeals that the company should be liable for no more than $25 million in punitive damages. Punitive damages are meant to deter and punish misconduct.

Exxon, which reported third-quarter earnings of $10 billion, said it has spent more than $3 billion on cleanup work and to settle other federal and state lawsuits stemming from the spill.

http://seattlepi.nwsource.com/local/257410_valdez28.html

[alittlelark]

1. They can 'erase' their debt when they have erased their damage.

They are 'flush' right now (on our backs).

[gordontron]

2. yup this is why I have an "expose exxon" sticker on my car nt

[EST]

3. Jeebus H Gout, after17 years of legal and not so legal

wrangling, their punitive damages should be quadrupled.

[Solon]

4. I don't understand WHY they should even be allowed to exist...

They fucked up, tried to cover it up, broke the law, and were negligent, not even mentioning the disaster that resulted, that alone should guarantee that all assets should be siezed, charter revoked, CEOs on down thrown in jail for LIFE, etc. Then, maybe CEOs would stop thinking of laws an regulations as simply things to be bypassed unless they are too expensive. Companies and thier boards should get a "one strike, one out" rule, it is that simple.

[GHOSTDANCER]

11. They would just file for bankruptcy then change the name, case closed.

It's the Amerikkkan way!!!!

[donsu]

5. they should pay MORE as the clean up is not finished

nt

[leesa]

6. Can't afford it after the 300% profit made in gouging last year?

[Javaman]

7. "but we made record profits this year!! We don't want to cut into that!!!"

total scumbags. The sooner we are off oil the better. These people are modern day barbarians.

[demgurl]

8. Weren't they originally going to make all of us pay anyway?

If I remember correctly, they came out of court and chuckled about how this 'punishment' did not bother them and they would just pass on the cost to their customers. Guess they decided they wanted to keep all the profits and make the general citizens of the USA pay.

Jeepers, if a regular US citizen were to say they could not pay their bills then they would be jailed or have to declare bankruptcy and pay it off anyway. I wish corporations were not favored over the everyday people in this country. Just criminal in so many ways.

[DenaliDemocrat]

9. Just a FYI

The salmon runs in Prince William Sound have still not recovered completely, and probably never will.

[OKthatsIT]

10. after their $30 Billion profit in 2005? I THINK NOT!! THEY'RE CROOKS!!

GOOD GOD!