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SeaDrill Limited Message Board

elstockjock 40 posts  |  Last Activity: Feb 5, 2016 4:55 PM Member since: Jul 14, 2000
  • Reply to

    What do JF and Donald T have in common ?

    by elstockjock Feb 5, 2016 3:50 PM
    elstockjock elstockjock Feb 5, 2016 4:55 PM Flag

    Donald Trump is rich. Really, really rich. And you’re not.

    And there’s a very simple reason.

    No, it’s not because he works harder than you. It’s not because he’s smarter, tougher or better informed either.

    It’s not because he has mastered “the art of the deal.” It’s not because he dreams bigger than you. It’s not because he’s a “winner” and you’re a “loser.” It’s not even that he had a rich daddy, and you didn’t (although that helps).

    Donald Trump is rich, and you’re not, because he knows one of the biggest secrets to making a fortune, and you don’t.

    The secret?

    Other people’s money.

    The fastest and surest way to make money these days is by getting your hands on other people’s money — and then putting it to work for you.

    You don’t need to build Trump Plaza to live high on other people’s money. Just keep piling up the credit card debt.
    It’s really that simple.

    Trump borrowed billions from bankers and used the money to put up buildings like Trump Tower and open casinos like the Taj Mahal. In his books, Trump says that by the early 1990s he owed more than $9 billion.

    When things turned sour, his companies filed for bankruptcy — twice. The lenders had to eat the losses.

    Too bad. What a bunch of losers!

    He then raised more money from bankers, bondholders and even stockholders along the way. On two more occasions his companies filed for bankruptcy. Lenders and investors got hosed.

    “Out of hundreds of deals & transactions, I have used the bankruptcy laws a few times to make deals better,” he has said on Twitter. “Nothing personal, just business. … It’s a very effective & commonly used business tool.”

    No kidding.

  • Going to college? Don’t be a sucker and take out a student loan. Thanks to U.S. laws, those student loans will haunt you for years. Instead, put it on a credit card — then file for bankruptcy!

    Credit card debt is wiped out in bankruptcy. So long as the banks can’t actually prove outright fraud — and they rarely can — you can walk away free and clear.

    I weep when I think of all those kids working summer jobs and saving money for college. If you want to be a winner, the reason to work a summer job is to generate income so you can start getting credit cards!

    Paying rent on a home? Don’t be a loser. Buy a home with as little down as possible. If real estate prices go up, you get the upside. But if they collapse, just walk away and send the bank the keys.

    Half of U.S. states actually have “non recourse” laws so banks cannot even legally come after you for the difference. In the other half, they’ll only do so if you have a lot of money. It’s criminal how many hard-working stiffs kept on paying their mortgages honorably in the housing slump instead of walking away.

    What a bunch of “losers.”

    You don’t need to build Trump Plaza to live high on other people’s money. Just keep piling up the credit card debt.

    And the fun doesn’t stop there. U.S. banks are really, really stupid. Greedy, but stupid. They send out credit cards based on “algorithms” that have nothing to do with whether you’re going to pay them back. All they care about is that you’re punctual about paying the monthly minimum. If you have lots of credit lines, and you’ve been borrowing money for years, they like you even more.

    You don’t need to build Trump Plaza to live high on other people’s money. Just keep piling up the credit card debt. Roll the debt from one card to another. Just keep paying the monthly minimum on time and the banks will keep on lending.


    Even better: You can actually save money while borrowing, and put other people’s money to work. When you file for bankruptcy, your 401(k) and IRAs are sheltered from your creditors. They can’t be touched! (Nor, for that matter, can anything that the courts don’t know about! How about that gold bullion!)

    Depending on the state in which you live, there are other ways to shelter your money too. In Florida and Texas, you can keep your primary residence. What a deal: You can have a $20 million home and $50,000 in credit card debt, and the banks can’t touch your home. In other states, you can shelter things like life insurance policies, a valuable “family shotgun” and a “family Bible,” even if it’s an original Gutenberg.

    Borrow $20,000 a year and invest it in the stock market, and by the time you’re old, you’ll probably have about $10 million. So long as you do it right, you can wipe out the debt and keep the investments.

    Worried about living costs in retirement? Be a “winner” and make sure you die $500,000 in debt, too. What are the banks going to do, dig up your body and sue you?

    Other people’s money. It’s the difference between the schmucks and the honchos, the “losers” and the “winners.”

  • elstockjock elstockjock Feb 1, 2016 3:33 PM Flag

    What Ritchie doesn't tell you is that CAT has raised their prices threefold over the last thirty years while discarding union jobs and replacing most of them with non union , outsourced, and cheap foreign workers at low pay and little benefits. And they use that to offset the wages for the higher paid high value workers that get laid off every time there is a business slowdown.
    Downsizing the dividend and or using AI in place of overpaid low skill mgmt. jobs is about all they can do now, and would maintain CAT's profitability structure.

  • elstockjock elstockjock Feb 1, 2016 10:11 AM Flag

    Perhaps a three tier executive pay and benefit plan would help.
    Starting with the ceo, and working on down to the shop floor.

    It's also about time to implement some of those AI robots to make mgmt. decisions and get rid of dead weight, if CAT is to survive.

  • Reply to

    Oil going up last couple days, SDRL going down?

    by edrylant1111 Jan 29, 2016 10:12 AM
    elstockjock elstockjock Jan 29, 2016 10:43 AM Flag

    As long as the world's major producers have a surplus capacity, and even with price fixing, if it occurs, there will be no resurgence of expensive offshore drilling.

  • elstockjock by elstockjock Jan 27, 2016 3:04 AM Flag

    Building a base to eventually compete or takeover CAT.
    Great technology grab if they can get it.

  • China will own us all.

  • Reply to

    So anyway, delisting what's the procedure?

    by gameplayer1 Jan 20, 2016 10:44 AM
    elstockjock elstockjock Jan 20, 2016 12:23 PM Flag

    RS is usually the next step if the company intends to remain solvent.

  • Reply to

    Should not get into politics but

    by dlw2244 Jan 15, 2016 9:45 AM
    elstockjock elstockjock Jan 15, 2016 12:46 PM Flag

    It's corporate America and the 1% ers. that are in bed with China.
    As long as it benefited Wall St., investors kept their mouths shut.
    America is short sighted.

  • elstockjock by elstockjock Jan 12, 2016 3:06 PM Flag

    So does JBLU go to 10$ or 30$ when oil heads back up to say 60$ ????

  • Reply to

    Added 700 shares

    by midwilguy Jan 12, 2016 2:35 PM
    elstockjock elstockjock Jan 12, 2016 3:00 PM Flag

    It's what may be hiding behind the door that has people worried.

  • Reply to


    by jlgilkeson Jan 12, 2016 11:59 AM
    elstockjock elstockjock Jan 12, 2016 1:02 PM Flag

    It's the high debt load companies carry, and the dividends they pay out to entice investors.
    When times get tough people panic and these companies fall apart.
    Not all , but many.
    Look at SDRL, FRO, KM, etc.

  • Reply to

    The SC was wrong about the 2nd admendent

    by lakeed98 Jan 8, 2016 4:07 PM
    elstockjock elstockjock Jan 8, 2016 5:06 PM Flag

    Heck, you couldn't even have a gun unless you were in combat.
    I tried to buy on stationed in Panama and it had to be locked up in the armory is what they told me. That was in the early 70's though. Perhaps , now they let everyone run around with ak's just like in civilian life. Funny ain't it.

  • Reply to

    T Boone Pickens

    by edison20 Jan 6, 2016 11:43 PM
    elstockjock elstockjock Jan 7, 2016 11:53 AM Flag

    Parts of Northern Cal are sinking 2 inches a month. And what if they can't stop that methane leak. Earthquakes, mudslides, fires, floods, underground water supplies will disappear and can not be replenished, is what I've read.

    These are just the natural and man made ecological disasters.
    Won't even get into high cost of living in that state.
    You have my condolences.

  • Reply to

    Pricing of the offering is disappointing

    by dofa61 Jan 7, 2016 9:16 AM
    elstockjock elstockjock Jan 7, 2016 11:32 AM Flag

    And why would anyone want to buy shares during a bear market.

  • Reply to

    This will be heavily shorted after R/S

    by rami36 Jan 5, 2016 9:36 AM
    elstockjock elstockjock Jan 7, 2016 1:45 AM Flag

    With less shares after a rs and a higher share price mgmt will at some point in time be very tempted to do an offering. Especially this company that has a very noticeable penchant to use credit to grow.
    I've seen other's do it and it eventually led to bk.

  • elstockjock by elstockjock Dec 24, 2015 9:27 AM Flag

    in any reverse split is dependent on two things.
    1) Does mgmt grow the business without issuing further shares and debt.
    2) Does mgmt give themselves free shares with stock options, thus diluting the growth prospects of the business.

    If mgmt pledges to never resort to doing the above then the rs could work.
    Do you really trust this mgmt team not to?
    I don't!

  • Reply to

    RS does not matter

    by kafka123to Dec 23, 2015 2:20 PM
    elstockjock elstockjock Dec 24, 2015 8:46 AM Flag

    And GBE ended up bankrupt after their rs.
    VRNG did one a while back, and the shares are still in the gutter.

    I followed GBE for many years after the rs.
    Over time it will depend on the companies business prospects for pps direction.
    But thee usually is a drop in pps when one takes place because allot of small shareholders get out.

  • Reply to

    Doug should resign

    by watchful_eye55 Dec 21, 2015 12:03 AM
    elstockjock elstockjock Dec 22, 2015 12:16 PM Flag

    Well, they could have used it to r and d their own product instead of stealing it from other companies.
    Stockholders are to highly compensated for a company this size that has no need to borrow from the capital markets.
    Taking better care of the people doing the companies work is a better use for the money than paying dividends to people sitting on their butts all day gambling on stock prices.

  • elstockjock elstockjock Dec 21, 2015 11:31 AM Flag

    Nothing new here, they've been stealing from employees for years.
    Funny how one is legal and the other not.

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