With all due respect, all I hear on this board are complaints about Newman. The same people are whining about Tim Cook. Tim Cook was in charge at Apple years before Jobs died since Jobs was no longer able to run the operations due to Jobs' illness. Last summer some thought AAPL was on its way to a $1,000,000,000,000 market cap.
No one gives Tim Cook credit for that incredible run. AAPL is back on its way towards $600 by early 2014 IMO.
Lets give Newman some credit for building RIG into what it was before Deep Water Horizon.
The fact that it is still a viable company, paying hefty dividends, after such a horrible disaster is no small feat.
That being said, I like RIG, exactly because it has fallen out of favor. That means downside is limited. Whereas buying Wall Street Darlings like Tesla has so much downside risk.
Yes Wall Street is irrational but eventually the 2014 earnings estimates for RIG (which are great) are going to take the share price up with it.
Hey Steve, how ya doin? Newman should get no credit for building RIG; he was just one of several contenders for the :CEO position as he navigating corporate politics to either actively elminate or survive the elmination of Kahusek and the dude that runs Atwood now. Talbert, Heagney and Long get that credit, but went a bridge too far with the GSF acquistion.
We need complete or more finalized settlement from Macondo---many of the large positions are still staying clear or are in reduced positions until the dust has settled.
Icahn--whether one likes him or hates his involvement in RIG--he owns near 6%, hardly a small position.
He is a savvy investor, certainly no new comer, so take it FWIW but he would not be invested at all, if he did not see value, short and long term. A stimulus or watchdog on Newman's tail, at a minimum will be a good thing, IMO.