Interest

$488 MILLION: Company files brief opposing plaintiffs' request.

By WESLEY LOYwloy@adn.com

Published: July 15th, 2008 09:58 PM
Last Modified: July 15th, 2008 01:57 AM

JUNEAU -- Exxon Mobil Corp. is fighting to avoid paying interest on the $507.5 million judgment the U.S. Supreme Court ordered it to pay for the Exxon Valdez oil spill.

Lawyers for the Texas-based energy giant on Tuesday submitted a nine-page brief to the high court opposing the application of interest, which could bring the total punitive damages Exxon owes for the 1989 spill to nearly $1 billion.

Exxon argues "there is no good reason" for the court to add interest.

Good Grief. I don't know -- it seems like there is some healing in closure -- some healing in putting an end to a thing.

And it's always painful to see how much of a toll putting things off can take.