"CRC is going to zero?"
I'm afraid that you don't understand CRC.
"You want exact figures?"
"Do your own research."
It's easy to lose perspective.
Everyone is too preoccupied with the oversupply situation.
But, there are plenty of risks in the world that could drive oil up in the blink of the eye--such as what the Libyan civil war in 2008 did then to drive a V-shaped recovery. Today--Libya is still unstable, as are SA-Iran, Nigeria, Iraq, etc.
THANK YOU! for stating the what's plainly clear as the blue sky.
What should be plainly obvious is obviously not so to many others who prefer to blame the world for their own decisions and carry on like a baby in a public forum. They're not even smart enough to be embarrassed by their stupidity.
Home sales are strong (new construction and resale)--research the stats--with positive implications for home furnishing/decorating sales.
You're a good man--I like you and your sense of humor. I'm also long.
As for lancer2k et al---no point wrestling with greased pigs, extinguish them with a click of the iggy button.
Buddy, folks like you who spend all day on a cyberspace MB live fantasy lives. You really need to get out for some sunshine and fresh air.
Rate cut--that's half the deal.
The other half of the deal is the HMM equity given in partial compensation for the rate cut. Too, I believe the agreement also contains provisions for something equivalent to profit sharing for the ship owners.
Net-net, I'm not sure that the effective rate cut is as much as at face value, it may turn out to be far less with the potential for gains to the shipping firms making up front concessions. Too, there are strategic aspects/values to the HMM situation and deal---ie, long term, HMM and its ship owner firms will be far stronger and with stronger ties having worked through a tough situation together.
BTW--there are excellent exchanges in the MB section of Darren McCammon's "Red Sky at Night" article on SA.
I don't think so--oil is unlikely to dip back to 20s, not with the impact of capex cuts now taking hold via falling production volumes globally.
Glad that you're pocketing profits.
But, it's the firming of rental rates that's driven up shares--should go much higher.
I'm afraid that you don't understand.
Balance sheet versus cash flow/EBIDTA.
NPV values can swing down AND up, based on commodity prices, cost cuts, etc.
I did a search for Calif muni bonds (GO and Revenue), BB to BBB, and maturing in 5-10 years.
Of a lengthy list, nothing with YTM greater than 2-3%.
OTOH, junk bonds (of stronger companies) in the distressed oil sector have moved up sharply over the past 2-3 months (e.g., from 60s to 80s/90s range).
And, with global interest rates likely to remain depressed for years longer, and with credit upgrades for JCP, there's a very high chance of over subscription for this re-fi.
JCP's turnaround is gaining traction---despite what the jesters on this mb say.
And, this is no secret---a top priority as identified in investors presentations.
The tide has turned in a very convincing way as indicated in the monthly chart.
You don't have a clue.
Mr. Stevens was dealt a very difficult hand as head of a new company---saddled with debt at a time of plunging commodity prices.
He and team are managing a very tough situation as best as a shareholder can hope for--this reverse split is necessary. And, btw--the shareprice has turned up into green territory.
BTW--why did you invest in crc without doing careful DD?