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International Business Machines Corporation Message Board

jrmills0014 611 posts  |  Last Activity: 15 minutes ago Member since: May 25, 2002
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  • jrmills0014 jrmills0014 Sep 19, 2014 10:10 AM Flag

    You must have been dropped on your head a lot also... With the debt drybulkers have and loses they are ringing up.. These SOB's are trying to get rid of bulkers.. Not order more...In last 2 yrs.. I remember 8 Drys got rid of.. Got lucky, ship builder, run into trouble and they didn't have to come up with money to continue paying to have those last 4 newbuild Panys built.. They been scratching their arz for well over a yr, as what to do about them...I think they would have already cancelled them. And eat what already payed to builder if they would have had money to pay cancellation charges.. Like I said.. They got lucky, when China Gvmt, stopped subsidizing those shipbuilders, losing money... What surprised me.. How shipbuilder come up with money, to return to Drys for what they had already paid them toward building them.. On that note.. I got so I don't believe much of anything GE says? In this case.. I do believe him??

  • jrmills0014 jrmills0014 Sep 19, 2014 9:46 AM Flag

    I didn't think rates for Panys would drop under $7K as rates for them come off like $18K at first of yr.. They didn't hardly slow down at $7K.. Dropped down to $3.3K per day 2 mths ago.. Bounced back to $7.5K per day.. Now for last 8 days dropping again.. Now at $6.5K per day... Capes of Drys, lot less worryingsome? They don't keep them on spot rates as they do most of those Panys...

  • jrmills0014 jrmills0014 Sep 19, 2014 9:34 AM Flag

    Yea boy! Since first of year.. Rates for capes gone from $38K to now $14K per day.. Panys from $18K to now $6.5K.. Now after it drops a little more.. Then bounces back a little... Makes it a strong buy?? You must have been dropped on your head a lot, when you were a baby!! Cause something seems to be wrong with your brain.. Right now rates for those Panys. Of which Drys, has 24.. Are leasing for $5K per day less than one yr ago..And Drys lost $223M in 2013...Do you happen to work for Deautcha Bank?

  • Reply to

    DB did a job on DRYS yesterday

    by db_insider Sep 18, 2014 3:27 PM
    jrmills0014 jrmills0014 Sep 18, 2014 11:20 PM Flag

    All they done was tell people to buy.. What would you tell people, if you were selling? What you think..They ain't crazy.. If you don't think they know what those 24 Panamax of Drys are leasing for.. Which makes the about worthless.. Think again.... I checked the major holders board yesterday.. DB was biggest institutional holder.. May not be now? Got a feeling they are dumping?

  • He had already sold 300M shrs of Drys stk($1.5B-$2B). Had borrowed $2B against assets.. And had all the bulkers and first 2 rigs on lucrative leases.. Were paying their way, paying for 4 rigs to be built. And still producing profits.. And according to how they were reporting.. Those 4 rigs coming in 2011, should have been about payed for.. No way, should Drys needed to sell any of Orig? And as those 4 rigs got added in 2011... Drys earnings should have seen big jumps... Drys never really seen anything out of Orig...Now have seen $30M in dividend payments.. Problem is.. No longer own Orig, just stk. And have $1.5B - $2B debt.. And losing over $200M per yr.. GE sold another 80M shrs of Drys in 2011? Then let dust settle in 2012. Didn't sell any.. Started back selling another $200M worth in 2013..Now drys outstanding shrs.. From 413M to 454M? Now you can figure out for yourself where the billions Orig has generated in revenue, last few yrs have gone.. As now have sold another $500M if that stk.. And he has borrowed $4.4B against their assets? As of right now, equity stk holders own in Drys.. May not be worth a hill of beans? So where did all the money go? I sold last 10 puts I had in Drys yesterday.. This is coming from someone who has no position at all in Drys, at present... So good luck to all..

  • Reply to

    Who shot JR?

    by bg4value Sep 17, 2014 1:15 PM
    jrmills0014 jrmills0014 Sep 18, 2014 1:26 PM Flag

    Bump, just want to see what happens..

  • Money from sell of 80M shrs of DSX is gone..($800M at $10.) All profits from when they were profitable is gone..(who knows how much that was). Now have about $400M debt. And losing money..And rates for bulkers, just keep falling...(have for several yrs).. loses just going to keep getting worse.. Insult to injury! Officers selling any equity off as preferred stk.. ( like $87M, so far this yr.).. That's like taking stk you bought.. And reselling it again.. But preferred stk, first in line, for any equity, should DSX file Chtr. 11.. Common stk holders, last in line... I may be crazy one in the crowd? But I think all drybulkers are basically worthless, as far as common stk holders? But don't feel too stupid.. Goe E, has sold idiots like 450M shrs of Drys..At maybe average of over $5. per shr...And they are in way worse shape than DSX? But do own shrs in ORIG? When that stk is all burnt up.. Drys will be next on BK pile...

  • jrmills0014 jrmills0014 Sep 18, 2014 12:26 PM Flag

    Now Sept 18th.. Why is this stk still trading? Did crooks, just promise those 4 capes, while they could keep selling idiots stk?? Hell if they just flat out lied to Nasdaq, to keep it listed.. Worst thing that will happen to them.. Ship gets delisted...At one point.. I actually thought about buying some? But then read what they were really saying... As anyone should do with any Drybulker.. These Greeks, seem to be anything but truthfull? While selling as much stk possible and borrowing as much as possible against any assets? We know any equity stk holders ever owned in SHIP is gone.. How much you recon, lenders lost? And same bunch, still in charge, trying to hustle new stk buyers? But got serious problem.. Even with 4 debt free Capes.. Capes ain't leasing for enough to be profitable, with no debt....So if they issued bunch of new stk to cover, their expense of those 4 Capes.. It really wouldn't be worth nothing... Just start losing money out of gate....All that stk they intend to take.. May turn out to be basically worthless.. In mean time, What are 4, 7 1/2 yr. old Capes really worth? I figure hell of a lot less, than what they thought they would be able to sell idiots, all that new stk, they intended to issue themselves? But make no mistake.. Lot of idiots out there...They sold billions and billions of drybulker stk.. Before they all started going BK..

  • Reply to

    Who shot JR?

    by bg4value Sep 17, 2014 1:15 PM
    jrmills0014 jrmills0014 Sep 18, 2014 11:14 AM Flag

    Who can or is it legal for them to do what they are doing to my post... Who can just have my post removed..

  • Reply to

    Who shot JR?

    by bg4value Sep 17, 2014 1:15 PM
    jrmills0014 jrmills0014 Sep 18, 2014 11:13 AM Flag

    This last post went to top, just to go back to middle of pack. And has remove on it?

  • Reply to

    Who shot JR?

    by bg4value Sep 17, 2014 1:15 PM
    jrmills0014 jrmills0014 Sep 18, 2014 11:07 AM Flag

    Actually posted couple of times this morning.. Seems someone has ability to block posts they don't want posted?

  • jrmills0014 jrmills0014 Sep 18, 2014 10:16 AM Flag

    Bottom line.. Drybulkers have just built way too many bulkers, than there is a demand for.. Sad part.. DSX in process of building more.. Which are probably costing lot more to build, than they are worth? And I know SALT is having like $3B of newbuilds built.. Looks like that is just a bunch wanting to make their fortune, like the other Drybulkers.. Sell dummies stk and borrow as much as possible against assets.. IPO'ed in 2013.. No reportable revenues in 2013.. $6M loses.. All went to compensate officers.. Now ask yourself.. Why did DSX sell that $60M worth of preferred stk, and paying like 9% dividend on it.. Didn't look like they needed to sell it? But why not get that money, to be sure officers could draw their compensations? Hope you did read where that Divvy is coming out of any equity the common stk holders have.. Check out EGLE, to see how that played out for common stk holders.. And then check out NM..

  • jrmills0014 jrmills0014 Sep 18, 2014 9:47 AM Flag

    Now rates for Panys have dropped 7 days in row...Weekends not counted.. Now rates have dropped to $6.5K per day.. One yr ago... Spot rates for bulkers were soaring up..One yr. ago. Spot rates for Panys were $11.3K per day.. This yr, the opposite.. As for Capes.. 1 yr. ago $36.3K per day..Now have dropped back to $14.8K.. Things looking bad for Drybulkers... I don't care what some idiot out of Deautcha Bank, is telling us..

  • jrmills0014 jrmills0014 Sep 18, 2014 9:28 AM Flag

    BTW: Year ago Capes were leasing for $36.3K per day..Now $14.8K.. Spot rates for Capes not too important to Drys.. They keep Capes leased on longer term contracts..But the lower rates go.. Less bulkers are worth.. Don't bode well as trying to work out covenants on loans.. Lower bulker values.. More of that Orig stk, Drys will have to pledge, or sell, to cover deficit.. Sad part.. GE hasn't told us how much of that Orig stk that has already been pledged to lenders... Bottom line: I don't think he wants anyone to know how bad a shape Drys is in..After all he did get $90M more worth of Drys stk sold in 1st qtr, at average of $4.14 a shr.. Bet the ones who bought it.. Are feeling real intelligent.. And anyone believing Deautcha Bank.. Going to feel just as intelligent when 3rd qtr results, come out..

  • Most important are Panamax.. They have dropped 7 days in row.. From $7.5K to $6.5K per day.. Year ago they were leasing for $11.3K per day...

  • Reply to

    Next news will be Dividend

    by grayold_man Sep 17, 2014 8:54 PM
    jrmills0014 jrmills0014 Sep 18, 2014 8:53 AM Flag

    sleeping, you sure got that right.. And as far as selling any ships.. They sold 6 newbuilds in 2013.. Whereby they had to eat all costs paid to builders and thru in $40M-$50M cash for someone to take them... Ultimatly, Drys losing $100M.. I doubt they got any ships.. That there isn't more borrowed against them, than what they could sell them for.. For them to sell any.. They would have to come up with cash to cover difference.. Now they did sell a couple in 2012, that Drys didn't get hurt too bad on? But only way they got those sold.. Had lucrative contracts, That went with them... GE is so nice.. I think you can find those 2 in GE's private fleet.. And the 2 they sold last yr, that Drys thru all that cash, for him to take them.. He just said, they went to affiliate of Drys.. And as far as any divvy, Orig pays Drys.. Nothing but GE moving money from his right pocket to his left.. And if Orig don't get some leases signed soon.. In 6 mths.. They will be losing serious money... They are burning thru that backlog, pretty fast.. In last yr. debt has went from $2.8B to $4.4B.. And getting no new contracts signed. While burning thru existing backlog at same rate as revenues being generated.. About $450M per qtr.... GE said reason, they weren't signing any new contracts for rigs.. Weak demand for UDW rigs.. That was when oil was $105. per brl.. Now bouncing below $95. per brl...

  • But that is exactly what is going on? Bottom line.. Manipulators can do anything they want to, on lies... Untill we see earnings reports... And as Drys really falsify their results.. Need to see if they can work out debt problems? Hell of a note. Sit here watching stk price going up.. Wondering if Drys will seek BK protection by end of yr? You may think that's crazy! Let price of that stk of Orig drop much.. I think Drys would immediately file for Chtr 11.. Wouldn't bother GE, if stk holders got wiped out...In fact, may solve a lot of his problems??

  • To realize how bad those are.. You need to realize.. Rates for bulkers been dropping for yrs.. This qtr, rates for bulkers will average worst in history... The bottom should be falling out of stk prices for Drybulkers.. Yet going up on DB upgrades? I bet.. They want you to drive price higher, as they are bailing out of drybulkers.. Those Germans ain't stupid.. If Hitler couldn't concour the world.. Maybe DB can?

  • Reply to

    New buy rating

    by warmcamp Sep 16, 2014 5:16 PM
    jrmills0014 jrmills0014 Sep 17, 2014 9:03 AM Flag

    I think DB, just crooks.. Wanting to sell. Before drybulkers report 3rd qtr results.. Rates for bulkers been going down all year.. In fact for last several yrs... Rates in 3rd qtr.. Maybe worst in history? Since 1st of yr.. Spot rates for Capes have fell from $38K per day to now about $17K, and have been as low as $9K per day.. But more important to DSX.. Is those 20 Panamax.. Since 1st of yr. Spot rates for them have fell from $18K per day.. To now $6.75K per day.. And 2 mths ago.. They dropped down to $3.3K per day.. Now DB says its a buy?? That is Absolute BS.. DB don't make all the money they do. Telling you the truth.. But can make a lot of money, if you do what they want you to do.. You drive it up, while they are selling... I think Germans are smartest people on earth? But how do their brains really work? For all of them to have got behind Hitler, And going to concour the whole world? And may have accomplished it.. If used better timing, sending all those troops into Russia. Whereby about 500K troops starved or froze to death.. Hell if Hitler couldn't concor the world.. Maybe DB can???

  • Reply to

    ok let's get this straight here pumpers

    by mystocks24 Sep 16, 2014 9:38 PM
    jrmills0014 jrmills0014 Sep 17, 2014 8:19 AM Flag

    DB guy upgrades and downgrades should all be wrong.. Banks don't make all the money they do by telling you what they are doing? I imagine, if they downgrade something.. It's because they like it and want to buy And vice versa when wanting to sell something they own, they don't like.. When buying.. Lower the price, the better.. When selling.. Higher the price, the better...Hey it's everybodies objective to make money! How could banks make all that money, telling you what they are really doing?

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