Exxon Valdez punitive damages to the Supreme Court which capped the damages to US $507.5 million in June, 2008. On August 27, 2008, Exxon Mobil agreed to pay 75% of the US $507.5 million damages ruling to settle the 1989 "Exxon Valdez" oil spill off Alaska. In June 2009, a federal ruling ordered Exxon to pay an additional US$480 million in interest on their delayed punitive damage awards. After repairs, "Exxon Valdez" was renamed "Exxon Mediterranean", then "SeaRiver Mediterranean" in the early 1990s, when Exxon transferred their shipping business to a new subsidiary company, River Maritime Inc. The name was later shortened
Cordova, Alaska oil tanker ran aground on Bligh Reef northwest of Cordova causing one of the most devastating environmental disasters in North America. The Exxon Valdez oil spill severely affected the area's salmon and herring populations leading to a recession of the local fishing-reliant economy as well as disrupting the general ecology of the area. After many years of litigation, 450 million dollars were awarded for compensatory and punitive damages. Cordova first appeared on the 1910 U.S. Census as an incorporated city. It incorporated the year before in 1909. As of the 2010 United States Census, there were 2,239 people residing in