You might want to wait a little before picking up any FRO. Next support point is around $3.50 and that isn't a strong point.
Don't know what has you so fired up. Both replies were spot on. As recently as 2008 FRO was over $70/share. The biggest reason for the drop is an excess of new builds which have flooded the market. This company is not cheap given the current conditions. I'm a big fan of FRO and John F. but I do not expect FRO to be doing anything exciting for a new of years.
This is not just an issue in New Jersey. Every state has a franchise law that requires automobile manufacturers to sell their vehicles through dealerships and specifically bans direct factory sales. New Jersey is not the only state that has ordered Tesla to stop this practice. We can argue the wisdom of these laws until the cows come home - there are pros and cons - but if you don't like a law you don't get to just ignore it, you try to get it changed. Like or hate Christy (can't stand him myself) this has nothing to do with him.
I see! FRO has been good to me for many years much of which was the big div. of years past. If they did not go BK with the past bad rates then I feel good that up is coming. Lase paid $2.49 and will add more this week , especially if it drops more tomorrow. Best to all.
I see this board needs some leadership! What part of stock going up due to short covering do you not understand? $7 by summer, it was $5 when you exhaled that statement in January. We said it was going to $3.80!
Grannybones?....are you a child?
I see this board needs some quality posters or an exorcism!
The good news, we are about to save you now that the short covering is done and the stock sinks off the Bermuda shores slowly.
Next time, pull a number out of the box that actually is a mark on T/A line!
Ms Cleo's tankers are headed to the high seas!
Somebody on another board told me JF was the smartest man they know, sure he is, he overbuilt and watched the stock go from $60's to below $4 and FRO almost had to file for Chap 11.
I'm here John, hope you can survive on those billions for another year!
I'll be back, Alegrias!
dakine I do not think ANY US President has got foreign policy right except Carter and he made his mistakes as well but at least did some things right. The CIA I think is the chief cause or tool used by those who have crafted US foreign policies since the end of WWII. There must be a bad guy and Stalin was indeed that so at first their fears had some basis but after Stalin death the spirit of what he stood for died with him. Putin is a throw back but no where as bad as the American fear of Russia wants to make him. Russia has a lot of problems without adding the US to them but since we always stick our nose in Russian business everything they do to deal with Russian problems we deem an affront to the US. The situation in Chechens with Islamic fundamentalist should of been a wake up call but since we missed the danger in Afghan land and saw only Russian threat we continued to MISS the Islamic problem. Radical Islamic deals more deaths to Russians and Americans than we deal to each other. If Russia stuck its nose into US/Mexico dealings the way we do with Russian issues with its neighbors we be ready to go to war over it.
Once again sadly it is politics not reality that drives the whole Russian madness thing. To appear to be "weak" with Russia is the kiss of death to any election and has been since the cold war days. Politics is the biggest threat to the USA in foreign policy and domestic eco interest and will always be the case.
I do however see light at the end of the tunnel. We and our kind are growing old and dying off and with it the ideas, fears and goals of our age group. The rise of other parties or reformed parties lies 10 years or so down the road. They will always be extremes left over but the middle is growing and will take over.
They will be victims of propaganda as is millions today but the future and its hopes and problems belong to them. We are merely old farts running our mouths both left and right and dying out.
Tesla cars can't be sold in NJ.
Just like a GOP#$%$/teabagger governor to keep an American made car from being sold in America.
I bet if Tesla made their cars in China Christy would welcome them.
Of course, they would have to pay Christy off.
My bet is Tesla will be around a lot longer than Christy.
We sold place in France but are still here in Hawaii, suffering through cold weather...lol The Crimean situation is a bit of a mess, but there is no doubt the US, and CIA were meddling all the time in Ukraine. The sad thing, is those most opposed to Russia in Ukraine are radical nationalists, neo nazis, and chechens that are militant islamists. The US picks strange allies when confronting Russia or the former Soviet Union. We got in bed with Bin Laden and the mujahadeen in Afghanistan only to confront them a few years later as the Taliban. Reagan loved Saddam Hussein and Bush's buddy Rumsfeld helped them get chemical weapon technology only to change course a few years later. It never ends. I can't blame too much of this foreign policy mess on Obama, as it has been going on for years. Just kick back and enjoy the rest of your life.
Checking out the rates and both VLCCF and Suze rates are below what FRO needs to make money.
cash flow may still be there but rates need to move back up to make some real money for FRO.
Guess that is why it has went below four bucks and of course oil is down. Eco news not that good all working against FRO in ST.
Mr F just keeps on trucking and this time helped me out big time. It seems he is moving FRO2012 into bulk carriers and had lots of new builds for them under contract and he just cut a deal with VLCCF which is not a totally bulk carrier co with only 4 boats but FRO2012 just sold them 6 of their new builds for stock in VLCCF.
I was a big time loser in VLCCF as it was trading down in the 6-7 range not that long ago but today I sold out and took a small profit and couple years of dividends. Thanks Mr. F for the help in moving me from red to green and out in VLCCF.
I am thinking about picking up some FRO shares from my sale of VLCCF may be a little early but cash flow as BS pointed is now positive.
dakine you are spot on and Russia does indeed have a historical claim to the contested area. I hope Obama fingers are clean on the change of Gov. in the Ukraine and if not then deserves the problems that intervention in a foreign gov will bring with it. Putin is no fool. A nationalist yes but a fool no. He will push the issue and get as much leverage out of the Ukraine Gov as he can which I think down the road is his play.
To let them know they can not just do as they please with the Russian's people who live in the Crimea and would rather be in Russia than Ukraine. Some in the south would rather be in the Confederacy than the union but they lost the war. Russia could win the war but the cost would be too high for Putin's Russian eco to take thus I do not believe it will come to all out war. He may move strong in the Crimea IF the Ukraine Gov. overplays its weak hand. The US and NATO will do nothing military and without that kind of help the Ukraine can't stand up to Russian military might. The cool heads I think need to be in the illegal Gov. that now controls the Ukraine which was not elected to office but took power by force.
Obama should be talking with the Ukraine Gov folks warning them about being too fast and harsh on the Russian people inside their borders. The nation must find a way to unite or it will remain divided.
Sadly Money or eco. is the only reason the US today remains one as even the most right winged understand that apart from the US a state would go belly up without the Federal Gov to make things work. They want to tell the USA how to run but even they do not want to separate from the US. This is not the case now in the Ukraine and must move in that direction and only cool heads on all sides will get there. Putin Will Not allow Russians in the Crimea to be the victims of the present gov. That much I am sure of.
When are things not good in Hawaii lol How goes France? visit often? Take care
goldyhawk all you say MAY be true up the point that you give RR a pass on the fact that HE and not Kennedy or the ACLU defunded the Federal Gov part in keeping people in these facilities. The states were left with cost only. Thus without the Federal funding again withdrawn by your beloved RR hundred of thousands of mentally ill were THROWN OUT. It was not you can leave if you want as you suggest. It was a direct cause and effect. RR defunded the program. If NASA was defunded and NASA closed its doors you would blame and rightly so the President that did the defunding.
Your boy RR in order to cut Gov. spending sent a lot of mentally ill people to the streets. If it had been done over a period of years the states might of been able to take on the cost but they too were hurting as the states are still hurting from the crash of 2009. Anytime the Fed Gov. throws the states onto the tracks there will be a cause and effect in human life form. RR did indeed cause the problem by his rash action. He was a man of rash decision and action with little regard of the effects of such decision. He merely ignored the hundreds of thousands of ill he put on the streets since they unlike Lebanon did not explode in his face with the death of 261 marines. You guys make a big deal out of Benghazi and the deaths of 4 Americans and yet never even think to look at the 261 killed because RR sent them into harms way. Now you try to hide the fact that it was RR who cut the money to the states and forced the closing of hundreds of state ran mentally ill facilities and cutting down of services for those that stayed open.
Obama is offering the States a path into medicade help as he expands the rolls of those on medicade. The states can take him up on the offer and the Fed will assume the major cost of a new program enrollment and slow cost shift back to the states or they can refuse and bare the cost or as Tex does ignore the needs of poor Texans.
The real culprit was the "patients' rights" movement of the 1960s, in which the ACLU among others said that mentally ill persons should NOT be institutionalized against their will. It's a very nice sentiment and well intended and on part, I agree with them. However, like all paths leading to hell, it's paved with these good intentions, and often the unintended consequences are worse than the original "problem."
Further enabling the situation was the Community Mental Health Act of 1963 (CMHA), signed into law by President Kennedy. The law provided federal funding to establish a network of "locally based" community mental health facilities. The idea was that this was to be a local alternative to institutionalization.
In fact, it led to massive deinstitutionalization. The law did not require formerly institutionalized patients to be institutionalized at the local level. As a result, many people left the state mental hospitals as "free men" and just began roaming the streets. Most did not get treatment locally. ...meaning they did not get their meds.
The timing of all of this is interesting because the subsequent massive deinstitutionalization of the mentally ill over the next 15 years or so coincides with the massive increase in homelessness over the same period.
So to summarize, no, the eeeeeevil Ronald Reagan didn't shove the mentally ill out on the street. You can thank well-intentioned do-gooders for that.
For the quarter, about a 14 million dollar loss. Of expenses, depreciation was over 23 million dollars. So, an approximate cash flow of positive 9 million dollars or so for the quarter.