No Surprises
So, I was wondering what happened to Joe’s Bait Shop under the BP’s claims system, and today the Miami Herald tells me:
Business owners blast BP’s claims rules
As hundreds of business owners shuffle through the claims process to recover losses caused by the oil disaster, BP’s promise that it will “deny no legitimate claim” is taking on a bitter meaning.
“They have not denied our claim. They have just not paid it all,” said Tommy Holmes, owner of Outcast Marine, a fishing-tackle supply company in Pensacola.
Holmes lost $73,000 in May and expects losses in June to exceed $100,000. BP has paid him $26,000 for May and refuses to pay the rest, he says. Holmes plans to sue them.
“They’re nickel and diming us — and they’re getting away with it,” he said.
The problem: BP’s definition of what it is willing to cover.
As far as BP is concerned they should only be responsible for the lost “profit”, which is minimal after a small business deducts the costs of their store front and utilities, as well as any wages. The overall profit at a large supermarket is normally under 5% after all of the costs are deducted.
A fisherman can’t make his boat payments on a system like that. The system is designed to crush people, not make them whole. BP wants to appear to be dealing fairly with the problem while forcing people to sue them for the real damages caused by the spill.
