A recent report alleges the seafood processors in the Gulf region were hit especially hard by the BP (NYSE:BP) oil spill, as a variety of concerns over food from the Gulf has apparently hit the industry hard.
Another variable is the ongoing recession, which makes it difficult to evaluate how much is as the result of the oil spill and how much if from national and international economic hardship.
Obviously some is connected to the oil spill, as demand for seafood shrinks from past levels.
The reason it affects the seafood processing industry more is restaurants and grocery stores can tap into other sources, while the Gulf seafood processors, for the most part, are reliant on Gulf seafood to do business.
Being out of favor at this time, it's going to be a long road to recovery for them, and likely some of them won't survive.
Showing posts with label Seafood Industry. Show all posts
Showing posts with label Seafood Industry. Show all posts
Monday, October 11, 2010
Sunday, June 27, 2010
BP (NYSE:BP) Class Action Lawsuit: Class Action Attorney
One of New Orleans highly regarded and prominent chefs Susan Spicer, is suing BP (NYSE:BP) claiming that restaurants in the area have seen a decline in seafood supplies due to the negligence of the Gulf oil spill. She runs a restaurant called Bayone in the French Quarter of New Orleans.
The class action lawsuit is on behalf of all restaurants in the seafood industry that have experienced losses and damage caused by the explosion of the Deepwater Horizon Rig on April 20th. The 18 page complaint was filed in Federal Court on Friday.
Serena Pollace, Spicer's lawyer said that due to the oil spill they are expecting to lose customers because of contamination fears, higher prices, lower tourism, and the lack of availability of local seafood. " Much of the plaintiffs business is based on the unique quality of Louisiana seafood as well as the chain of delivery of that resource from the initial harvester. Because this chain of delivery cannot be maintained, plaintiffs business has been and continues to be, materially damaged," said Pollace.
The lawsuit also names as defendants, Transocean who operated the rig, Cameron who provided the blowout preventer, and Halliburton that provided the cementing services. The lawsuit is seeking compensatory and punitive damages from BP.
The class action lawsuit is on behalf of all restaurants in the seafood industry that have experienced losses and damage caused by the explosion of the Deepwater Horizon Rig on April 20th. The 18 page complaint was filed in Federal Court on Friday.
Serena Pollace, Spicer's lawyer said that due to the oil spill they are expecting to lose customers because of contamination fears, higher prices, lower tourism, and the lack of availability of local seafood. " Much of the plaintiffs business is based on the unique quality of Louisiana seafood as well as the chain of delivery of that resource from the initial harvester. Because this chain of delivery cannot be maintained, plaintiffs business has been and continues to be, materially damaged," said Pollace.
The lawsuit also names as defendants, Transocean who operated the rig, Cameron who provided the blowout preventer, and Halliburton that provided the cementing services. The lawsuit is seeking compensatory and punitive damages from BP.
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