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International Business Machines Corporation Message Board

jrmills0014 496 posts  |  Last Activity: 18 hours ago Member since: May 25, 2002
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  • jrmills0014 jrmills0014 18 hours ago Flag

    To newbees.. I loved Drys early in 2011.. And sure let everybody know it.. As they kept adding those new rigs in 2011.. It didn't make any sense as to what they were reporting, by end of 2011? If you go back and study what they were reporting.. Drys should have been very profitable by 2012.. Regardless of what bulkers, were doing... All I could conclude.. As revenues from those rigs started flowing in, It was all flowing to GE...No way in hell, Orig, actually lost money in 2012? As Drys stk holders, about paid for first 6 rigs.. How in hell could Orig, when profits, would have flowed to Drys, reported loses in 2012? Read 2013, first qtrly report.. Now regardless of what Orig does.. It won't do Drys stk holders any good.. Other than they own 50% of Orig stk.. (Maybe)...When Drys reports.. Look for revenues to be under $75M.. And loses to be worse than 4th qtr.. Drys reported like $85M in revenues, in 4th qtr.. And lost a ton of money..The cost of operating those bulkers ain't going down.. And that debt, sure ain't going nowhere.. Other than up... Lets see if the snake in Athens, that is weeding another $200M out of dummies.. Will even show up on next earnings reprt.. When in the hell don't people take $200M serious?? Hey after GE has sold people $3B worth of Drys and Orig stk.. I guess another $200M is a little irrelevant... No #$%$ wonder, GE owns yatchs, one of worlds biggiest art collections and so on.. That SOB..Obviously, could sell ice boxes to eskimoes..

  • jrmills0014 jrmills0014 20 hours ago Flag

    I been trying to tell everybody since, late 2011.. What a crock Drys is.. Now have concluded.. All these drybulkers.. Ain't never been much more than a crock of BS.. The ones buying them.. Just supporting the ones running them.. To a life of riches..

  • jrmills0014 jrmills0014 20 hours ago Flag

    Not wanting to tell a lie.. When I said I didn't have a position.. I was talking about Drys.. I do have a few puts, On DSX.. What is a stk worth? That is losing money..And will report worse loses this qtr than last.. Analyst have them losing 9 cents per shr this qtr.. I think they will lose twice that amount? Don't mean manipulators, will let it drop? But with real interest rates.. At like 1/2% to 2 1/2%.. The officers, just got them $60M, to be used to compensate them... On some kind of cumulative bonds, at like 9% interest? I sure don't understand bonds and such... Looks like to me.. Officers, just throwing stk holders under the bus.. To carry on with their lavish life style.. Its sort of comical what those snakes are doing over there in Greece.. But can you blame them?? Joe, best I can tell you... Let those snakes in Athens rape the stupid hedge funds.. You don't want to be involved.. And don't think.. With the billions and trillions those hedge funds have under their control.. They can't drive worthless stks up...Hell they drove REE up to like $18.. All, ever been going on there.. Officers, making money..They ain't never generated any revenues and probably never will... Yet officers, have made themselves a bundle.. Not nothing like these snakes out of Athens...Those dudes at REE have made millions.. Snakes out of Athens.. Have made billions.. If you don't know the difference in Millions and Billions.. Get out of stk mkt.. Untill you understand..A million in hundred dollar bills, is as tall as a 6' man.. A billion. Is as tall as Empire St. building.... While Drys stk holders only see loses.. Geo Economue.. Is half way to the moon, with all his billions... And people are sending him another $200M?????????????

  • jrmills0014 jrmills0014 21 hours ago Flag

    Here is something I noticed.. Seems DSX is going down same road as Drys.. Just didn't expand into drilling rigs...Most of these drybulkers went public, about same time as Drys.. GE took Drys public with 6 old bulkers, in 2005.. DSX went public with about same scenario.. With what rates bulkers were commanding at the time.. Both were profitable for a while.. Even payed a dividend for a couple of yrs.. Since then.. Seems they have sold as much stk as possible, without making stk price collapse to nothing.. And have borrowed as much against assets, as lenders will lend them.. The real big question.. Is there a glut of bulkers, that there will never be a demand for?? If Drys and DSX had like a dozen bulkers in 2005.. And now between them, like 80? And then you got the others who have done basically the same thing.. Hell yes there has got to be the biggest glut of bulkers.. the world, has ever seen.. And Drys is having 4 newbuild Panamax built.. DSX has several newbuilds being built.. And bunch in Monaco, carried SALT public in 2013.. Idiots, are having like $2.8B worth of newbuilds being built? Why not.. If idiots will buy the stk.. And lenders will lend them billions.. Not that they will ever make billions, like Geo. Economue.. Shouldn't be hard for them to weed stk holders and lenders out of at least $1B.. I figure, GE has made from $3B to $4B off of Drys since 2005.. How he can get anyone to buy this last $200M worth. Is beyond me? Hey its yall's money. Spend it any way you want to... I don't have a position, cause I am broke.. Just trying to explain to Joe six pack.. What is going on...

  • He never tells you things like this but once.. Drys is Pure shipping Co.. Drys and Orig, have been completely separated.. Read 1st qtr, 2013 earnings report.. Its in Drys website... When he slips one to you, like that.. He very quikly gets back to talking about BS, that is really irrelevant to Drys... So regardless of the way they report, Drys and Orig.. You have been told... Orig results.. Have nothing to do with Drys.. Drys generated $311M in revenues in 2013, and lost $223M.. And with rates for Panamax at $6.5K per day.. Things are going to get a hell of a lot worse.. And if you check.. Drys has 3 Capes that get returned in 2014, That are averaging generating about $25K per day.. And rates for Capes just keep dropping.. They are now leasing for $8.8K per day.. You can check any of this out with very little DD... Drys 2013, 1st qtr and 4th qtr earnings reports are in ther website.. And BDI gets posted every morning in website, as Daily Market Report.. Don't listen to idiots, telling you things are getting better... Unless we see a ""BIG"" improvement, in rates for bulkers soon.. All these drybulkers are in a world of hurt.. It won't be a question.. Of when they will file for BK protection.. It will be when? Bulkers ain't like a dump truck, that you can park in your back yard. When there is no demand for them.. Cost to put and pull them out of storage.. And all that debt, just keeps accumulating interest expense... And just what is GE doing with Orig? Hard to really tell? They haven't diluted it like they have Drys.. Or have they? Seems Orig has over 50 subsidiaries? That are usings Orig stk, to obtain loans?? Seems, maybe you don't really have to report what subsidiaries are really doing?? Leaves question? As Orig stk has stayed constant at 131M shrs.. outstanding.. How many shrs, have those subsidiaries pledged, to obtain loans.. That they don't report as shrs outstanding?

  • Reply to

    Old man

    by ships1958 Apr 18, 2014 2:50 PM
    jrmills0014 jrmills0014 23 hours ago Flag

    Rates for bulkers were up in 4th qtr.. And Drys still lost $223M in 2013.. Since 4th qtr. Rates for Capes have dropped over 75%.. Now leasing for $8.8K per day And Panamax have dropped about 66% percent.. Now leasing for $6.5K per day.. Read last Earings report and check out BDI.. Those are fact.. When Drys stk price.. Starts representing What they are losing and the fact GE just keep pumping more shrs into the mke.. It won't be selling for $2. per shr...I don't know where you got that $431M from.. Don't match any figure I remember?? You can sit there and talk till you are blue in the face.. There is just nothing positive about drybulkers, right now.. All of them are losing money.. Got more debt than they can service.. That my friend.. Will send them all into bankruptcy, eventually... A couple are already, reorginizing, under bk protection...Whereby.. Stk holders will be lucky to receive anything? They can take those shr certificates into bathroom.. And get some use out of them.. With all the stk, GE has sold of Drys.. He may put toilet paper manufactors out of business...

  • Reply to


    by atwood407 Apr 17, 2014 11:57 AM
    jrmills0014 jrmills0014 Apr 18, 2014 10:40 AM Flag

    The people who got rooked into buying these drybulker stks.. Deserve to be fleeced. And that is exactly what looks like..Is going on to me.. They tell you they were incorporated thru Cyprus? Results are unaudited. and tell you laws that protect them.. If what they report ain't true.. Read any of their earnings reports.. Since they figured out how to pull this scam... They have sold as much stk as possible, borrowed as much money as possible.. And all earnings have vanished. .Now they are all losing a ton of money.. I think when they can't sell any more stk, or borrow more money against assets.. They will all be sent into BK? And with rates for Capes at $8.8K per day. And rates for Panamax at $6.5K.. Things are just getting worse.. If DSX's loses ain't greater in 1st qtr..than 4th qtr.. Then they will be lying.. That contract, for $55K per day. That expired on Nov 26th.. Would have been very profitable, for 4th qtr.. Hell of a difference in bulker generating $55K per day, than $10K to $15K..

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:41 AM Flag

    And on further thought.. If you check.. I don't believe Drys has ever leased a Panamax, for less than $7K per day.. That will let you know how bad those rates are right now.. And when I say leased.. I mean wrote a contract for a yr. or longer.. We know, obviously, on spot, They have leased some for less than $7K per day..

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:28 AM Flag

    Here is something to watch.. Capes have about twice the carrying capacity as Panamax.. So it makes sense to me.. Capes should lease for about twice what a Panamax, does.. If so.. Right now at what they are leasing for.. Capes have now, dropped, too low? As I can't imagine those Panamax, going lower.. Those are pitiful rates already.. In the history of Drys.. They have never leased a Cape for under $10K per day.. And that has only happened once... Next worse rate, was the one they leased last yr, around July. For $11.5K per day... You better realize one thing.. If rates don't bounce back.. All these Drybulkers are toast.. They got too much debt, to operate, at these prices... All they can do, is keep, losing money and increasing debt... Untill there is no way to raise any more money to cover loses.... Personally, I think it would take a fool, to buy any of these drybulkers??

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:02 AM Flag

    Yep finally a little good news on Panamax.. They have went up over $250. per day in last 2 days.. Now for bad news.. In last 2 days.. Capes are still dropping. In last 2 days, down another $1500. .Now since first of yr.. Have dropped from $38K per day to $8.8K.. Now with this little bump for Panamax.. They are only down from $18K to $6.5K, since first of yr...

  • jrmills0014 jrmills0014 Apr 17, 2014 8:38 AM Flag

    And if anyone don't understand what he is saying.. All of Drys past earnings reports are in their website.. As press releases.. And they tell you what outstandings shrs are... Even when Drys was reporting earnings.. And people weren't that concerned about dilution.. From 08 till end of 2010.. He diluted it from 35M shrs to about 300M shrs.. Since then, with this dilution.. Shrs outstanding should now be about 450M shrs.. Yall keep buying this stk.. GE will sure sit over there in Greece.. And spend your money.. Hell when he had it all sturred up.. Ordering bulkers.. Cancelling them, buying Orig, selling it to Drys, and so on.. He had enough money to buy up one of the worlds largest art collections... And when you got that kind of money.. You are one rich SOB!!! In mean time: All earnings from Drys + Orig have vanished.. About $3B from sell of stk has vanished.. And They are sitting here with over $6B debt.. If you add in that $700M of Other Liabilities, to that $5.5B debt... Cute part in all this.. That Art, you bought for GE.. Just keeps appreciating.. Over time.. Bulkers just turn into scrape.... When you get this next earnings report.. See if you can tell where any of this $200M worth of stk he is selling now, WENT! He is right about one thing.. Investing in art.. Lot better investment than investing in drybulkers, that were incorporated thru Cyprus.. And results. Are unaudited...

  • Reply to

    Worried about rates?

    by audiophul Apr 16, 2014 3:52 PM
    jrmills0014 jrmills0014 Apr 17, 2014 8:03 AM Flag

    Hey village idiot, bump this.. In 2013 Drys lost $223M.. They state that in 4th qtr earnings report.. In 4th qtr when rates were higher than we have seen in yrs... Drys lost a lot of money.. Now: Rates for Capes would have to go up 4 fold (4X$9K) and Panamax, would have to go up 3 fold (3X$6.3K), for rates to get back to where they were at first of yr... And Drys would "still" be losing a ton of money... Joe in mean time.. Don't let idiots blow smoke up you arz.. Earnings are coming.. And rates, for bulkers just keep dropping.. And all these bulkers are reporting loses.. And debt just keeps going up!! Now those are fact.. Not some BS, about China, may start importing enough of anything, to drive up rates for bulkers..

  • Reply to

    Tomorrow close to a given.....

    by dennisolexa Apr 16, 2014 11:38 PM
    jrmills0014 jrmills0014 Apr 17, 2014 5:14 AM Flag

    No way in hell.. Mkt will be up today or drybulkers.. IBM's ER will hurt overall mkt.. And the drybulkers haven't even begun to reflect, the drop we have seen in BDI.. BTW: Most articles coming out of MF + SA.. Seem to be wrote by people who are out of touch with reality and what is going on with drybulkers...

  • When you read where idiots are telling you rates have dropped like they have, because its seasonal.. Check out that chart... Don't seem there is no correlation to seasonal and rates going up and down.. Seems some people just run their mouths to hear their brain rattle... And then: They expect rates to improve.. Well I would sure as hell hope so.. Since Dec. Rates for Capes have dropped from $38K to $9K per day.. Rates for Panamax from $18K to $6.3K + And Supras from about $18K to $9K.. Let rates bounce back a little.. And same idiots, will be saying.. I told you so!!! For newbees: They post the BDI every morning in Drys website as Daily Market Report....

  • jrmills0014 jrmills0014 Apr 16, 2014 9:59 AM Flag

    Drys lost $223M in 2013.. They state that! On last earnings report.. And things looking lot worse now that a yr ago... Going forward.. All you will see is same results as last yr.. This $200M worth of stk they are selling right now.. Ain't doing much more than, covering every day loses.. They been in the process of selling that stk off slowly to keep stk price from collapsing.. Its already been going on about 6 mths now.. Just check, this next ER.. And see, if all that debt.. Ain't still there.. Seems all GE knows is borrowing money.. Seems to have no concept.. If you borrow money.. People want you to pay it back.. Why would he want to do that?? All that debt belongs to Drys and Orig...

  • I can understand why someone may want to gamble on those preferred shrs, they just sold.. For money to use for General Corp purposes.. (Pay Officers).. As it seems they could earn about 9%.. Should there actually be any value in DSX?? BTW: BDI took another hit yesterday.. Capes dropped another $1100. per day.. Now since first of yr. Rates for Capes have dropped from $38K per day to $9K.. Yesterday rates for Panamax went up a little over $100. Still sitting close to $6.3K per day..

  • jrmills0014 jrmills0014 Apr 16, 2014 9:01 AM Flag

    Its really hard to believe how ignorant you really are.. #$%$ rates have been dropping all yr.. Since first of yr.. Capes have dropped from $38K to $9K per day.. Panamax from $18K to $6.3K per day.. And you being the genius.. Rates have dropped this time of yr. As you said they would?? You are so ignorant.. You don't have a clue, to how ignorant you really are... BTW: That BDI has a chart.. That shows what these bulkers, have leased at for yrs...

  • jrmills0014 jrmills0014 Apr 16, 2014 8:37 AM Flag

    Why do you persist to show just how ignorant you really are.. I said Drys main concern was their fleet of Panamax.. Now just so you will know.. Those 12 capes of Drys.. One should have already been returned.. No big deal.. It was leased at $10K per day.. There is one that can be returned this mth.. Its leased at $23.5K per day.. There is one that can be returned in June, leased at $11.5K per day.. 1 in Aug. leased at $26K per day.. 1 in Oct, leased at $26.250K per day.. So as rates for capes have dropped to $10K per day.. And seems, they may drop further? Anyone that knows anything about what is going on.. Will know how asinine. your little input is...

  • jrmills0014 jrmills0014 Apr 16, 2014 7:57 AM Flag

    BTW: In 4th qtr.. Drys time charter equivalent, for all their bulkers averaged $13.3K per day for all their bulkers.. As spot rates are for 4/6 mths.. Drys TCE for 1st qtr, may not be devastating? But going forward.. Unless we see a dramatic improvement in rates.. With where rates are now and been dropping every day for a while... All these drybulkers have serious problems..

  • The fleet of Panamax, Drys has on spot.. Is their main concern.. Or should be.. Now those Panamax are leasing for little over $6K per day... If Drys was losing money a year ago.. You figure out how bad, it will get going forward... With rates for Capes back to $10K per day.. Obviously there has been and will be for yrs, a glut of bulkers.. And Drys is adding 4 newbuild Panamax.. DSX has several newbuilds being built.. And SALT, went public in 2013.. And has ordered about $2.8B worth of newbuilds.. Seems we got a bunch of idiots, running these drybulkers who make money ordering newbuilds?? And bankers just as dumb, to have lent them all these billions to do it with.. The money you have invested in stk, has been long gone! Eventually all the common stk will be stuck up stk holders rectum...

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