DRYS should scrap at least ten of their older panamax. This will create the most value for this company in the long run and slow down the cash burn rate. Longs are in denial of the virtual insolvency of this company that loses mountains of money every day. Even if shipping rates were to quadruple, which they won't, this company would go bankrupt. George has done a fantastic job of milking this cow every step of the way and He deserves every accolade thrown at him by the posters on this board. Shipping has been the worst sector for the last decade and George has been able to personally profit all the while as a testament to his legacy. In the end, is isn't how many companies you drove to bankruptcy. it's how big was your house and yacht, how many jet planes did you own, and how many hot chicks did you nail. GEORGE is the BIG WINNER.
The tankers are the only assets with any value Sell those to yourself and funnel the proceeds back to yourself. Then sell the ORIG stock for $2 a share to yourself and use those proceeds to cover third quarter losses and file for bankruptcy. Retire and write a book about the stupidity of American investors.