The aviation business in Alaska is always
seasonal due to the cold winters. The best quarters are
the 2nd and 3rd, due to increasing tourism and
firefighting caused by the summer heat. Just remember, RDC's
aviation is a very small percentage of their consolidated
If your from the midwest you probably have grain
stuck between your teeth, grease under your finger
nails, and hair growing out of your nose and ears. Money
talks and b_llsh_t walks get out of oil and buy dell.
Finally someone has the company profile right.
The company DIDN'T layoff a swinging soul in previous
downturns. Palmer, I'm sure has plans, but ,as in the past,
holds his cards close. He hasn't produced a long term
loser up to this point. Give him and his management
team some credit guys. Let's wait and see.
As in some of the previous posts,
RDC has a very loyal employee base because they don'y
layoff workers, even on stacked rigs. Even during the
tough times in the 80's, they kept their crews on
regular rotating shifts cleaning, painting, and upgrading
idle rigs so the equipment would be ready to go in the
event opportunity arose. I worked many years for a
Rowan company and know first-hand that they do an
excellent job on their rigs.
For some of the other
posts, there seems to be confusion about the "mini steel
mill." The steel mill is part of LeTourneau, the heavy
equipment mfg who also builds jack-ups. When Rowan acquired
LeTourneau, they got the mill as part of the package. Rowan
didn't just decide to buy a mill and expand into the
steel business. One of the advantages of LeTourneau's
mill is that it produces steel that meets Coast Guard
specs- a necessity for offshore drill rigs.
ERA aviation started out because Rowan had to get
drilling crews on to and off of rigs, often in remote
location where regular air service wasn't readily
available. They had to acquire choppers, etc to fly crews.
They sold extra seats to other drilling and oil
companies to help offset the cost. With time, the demand
got so great they expanded into regular flying of
crews and freight, to become about the largest private
airline. Now they seem to have expanded into other areas.
In the past, Rowan has weathered genuine crises,
not merely a downturn in their stock price. Even in
the years they were losing money (86, 87, 88, 89, 91,
92, 93, 94, 95) I don't believe they laid anyone off.
Yes i heard him on CNBC. I don't know what he had
to sale to buy RDC. If he sold good stock to buy RDC
I have lost my trust for his ability to run RDC. I
don't know what his next dicision would be to split
stock at $5? this is just a joke! Seriously, his mouth
was running like Clinton and his nose was growing