And not to worry.. Lenders ain't getting out of this trap.. That easy! Between Drys and Orig.. GE has them on the hook for about $6B.. We know over $4B paid for Drys and Orig stk is going down the drink.. When this all plays out.. Lenders may lose more than stk holders.. If anyone wants to visit their money.. Maybe GE will invite you to his privatly owned Island.. And let you view one of the worlds biggest art collections on earth.. That mysteriously, he come up with money to buy....Well $4B from stk holders and maybe same from lenders.. Would add up to $8B.. And then for about 6 yrs Drys was profitable.. And Orig has been profitable.. Do you know out of all those billions..How much Stk holders ever got back.. GE payed the ones who owned the 30% of that Orig stk, that Drys(Hisself) didn't own.like $10M in divvy for 4 or 5 qtrs.. As of right now.. Orig is still generating upwards of $2B in revenues per year.. And supposidly has good earning.. Yet last qtr.. GE quit paying that divvy.. But since he has got that 70% Of Orig that Drys, supposidly owned.. Will Orig declare a divvy this qtr?? So GE can sell that 70%. That he now owns.. Before it goes bankrupt? And make no mistake! It will go bankrupt!! Where they going to come up with money, to pay for those 3 newbuild rigs being built.. Or even come up to pay cancellation fees? I do hope you read what he told you in 2nd qtr.. When existing rigs get returned.. Either will have to scrape them of drystack them;;; Just no demand to drill in deep water..He don't tell you anything like that but once.. If you ignore? Fine.. Then on 3rd qtr report.. Orig in good shape?..
And that's what you are going to end up with if you keep sitting on Drys.. You better read how GE has already took about everything Drys has.. And is trying to sell those last 19 panamax.. Just nobody wants them.. And nobody is going to want them..You Can't operate them for what they are leasing for. And it cost to lay them up.. Best I can figure.. Drys has about $350M debt..So what are those 665M shrs worth.. Not one dam thing... And lenders going to eat most of that debt..
If you think I am crazy.. U R right..But I ain't no sorry greedy SOB like GE.. If you read Drys earnings reports.. In 2014 he indicated Orig's revenues and earnings were flowing to Drys.. Even indicated Drys was profitable..I knew how much drys was losing, GE had said the 2 were completly seperate.. But in mean time.. After he had already sold maybe $3b of Drys stk.. He tricked people into buying another $423M worth in 2014.. I was screaming from roof top! This SOB. Is either crazy, on crack or biggest theif of all times.. And convinced he was all 3?? Now check out what people who bought well over $3B of Drys stk own.. My best cyphering...Drys owns 19 Panamax..Not worth much more than scrap prices.. And those service vessels he dumped on Drys.. Whole lock stk and brl, may not be wprth $100M.. Not that GE ever makes it easy to figure out debt.. Best I can figure, Drys debt is like $350M? Why would any body pay 1C for that 665M shrs of Drys? Now that we know GE may be biggest theif of all times? Sit back and enjoy? He is sight to behold!! And that SOB is going to be able to keep all those billions, he has F'ed stk buyers and lenders out of.. Read those warning on earnings report..
You now what? As it seems GE now owns that last 70% of that Orig stk, that Drys supposidly owned.. Smart move would be, Declare a nice divy this qtr..Maybe .50.. Hell who woudn't pay $10. for a stk paying $2. per yr. in divvy.. In mean time GE could sell all that Orig stk.. Before sending Orig into BK.. I think that's what he specilizes at..
That would be ranchers. With few wells pumping few brls per day.. But enough of them.. It would amount to million brls..Not sure he said per day.. But they are getting close to not covering expense of operating them? Not lot of trouble to shut them down.. But also, not lot of trouble gearing them back up.. In mean time if Saudi does IPO Aramco.. Think hard and long.. Before you buy any.. If Saudi don't want to run it with $30. oil.. Why would anybody else want it? And they saying, that could be biggest IPO of all times.. BTW.. Reason Orig earnings are looking better, with revenues going down.. When things were running smoothe.. GE was taking all earnings.. Now things ain't running good.. Oh he's still taking a bundle..But leaving enough for earnings to look good.. Have you ever wondered where all that money they write off as depreciation goes? It just seems to vanish? And that, like $50M per qtr.. For Gen. + Admin expense.. That has nothing to do with expenses to operate those rigs..They tell you wht those cost are.. And what gets wrote off for amortizatio.. I figure most is to cover GE's salary and bonuses? And when he payed $30M last qtr, to kick the cost of building those 3 newbuild rigs, out a yr.. He use to do that with Drys debt.. That finally caught up with him.. As he couldn't figure out how to justify billions, Drys should have?? What the hell.. Just write it of as impairment expenses..In last 2 qtrs.. Drys has wrote over $2.2B as impairment expenses? If he don't send Orig into BK before.. In 1 yr.. Orig will be in same shape as Drys.. If Orig, in good financial shape? Why dilute the stk in 3rd qtr.. Selling $200M worth of stk..And cut out, that little divvy they were paying..
Here is something I find amuzing.. If .16 cent stk goes to .08.. You only lost 50% of your money,, If .08 goes to .16.. You made 100%..
Son, that R on gear #$%$.. Don't stand for race!! You better change gears.. Since you made this post.. It's dropped like 25%.. From like .16 to .12..
Just thinking about what you just said? Could that divvy double in next 5 yrs? I figure one way.. If they step up buyback.. Can they or will they? If they can actually borrow money at like 2.5% and paying over 3.5% divvy.. Every shr, they bought back would be like making 1% on borrowed money? If they could borrow $50B to buyback at these prices.. Thats exactly what they should do.. But, there is that little problem..Revenues dropping? Let's hope that has changed, when they report..
Problem here..How real are analyst estimates??? Maybe when they report..Revenue picture will have chnged? If revenue picture improves.. IBM is steal at these prices.. If it has'nt changed.. I'm going to join in and agree.. And say, It's time for Ginny to be replaced.. But maybe it's more hope? But I think earnings, may impress...Oh well, only 11 more days to see...
That money is being lent to help pay to build newbuild bulkers, ordered in 2013 and 14.. Most likely Bank of China agreed to those loans,, To keep from all of China's ship builders,from being shut down? And if need be.. Gmnt will step in and straighten out the bnk.. Basically subsidizing ship builders, thru banks.. To keep people employeed.. Now DSX debt should be about $600M.. And make no mistake..They are losing their Az..Have you checked to see what bulkers are leasing for.. It's pitiful..
It's showing Capes leasing for $3818. per day.. Panamax for $3466. You couldn't operate those things at those rates.. With slave labor.. BTW: That may be all time low for Capes.. Those Panys have dropped to $3300. at one time, in last couple of yrs..
China realized they F up And removed that BS, whereby, if their mkt dropped 7% It shut down trading..That was doing reverse of what they intended.. As their mlts were shut down 2 out of last 3 days..To restore confidence.. Gvmt says it's going to buy stks.. And then U.S. come in with good jobs report, this morning..
You thought you wouldn't look too stupid. Yesterday,.after it had fell from .1480.. That you claimed to have bought at .1346.. Well you still look stupid.. It closed at .1301...What happened to the other 4M.you stated you were going to buy yesterday.. Did you reach down and couldn't find a set?
My thoughts.. Why not after 40 yrs.. He's rich!! I'm sure he hated walking away from his passion, of being software guru..But! Who don;t think about laying on an island.. And have enough money to have good looking women, taking care of any of his desires? In the mean time: Seems mankind just keep getting smarter and smarter.. I would bet the one replacing him.. Are lot smarter.. Hey steve call me! Not that i could keep those good looking women at bay,, But we could have a hell of a time, picking and choosing, which ones could abuse us..BR9. I'll get back with you.. On that phone number...
Son you better step up your buying.. Whjile you buying, this POS.. It's down another 10% today..How many other stks down 10%?? Regardless If a stk is trading for .15 or $1K.. 10% is serious money.. If enough shrs trade..
Being an old viet nam vet..I'm getting too old to worry about a lot.. But if China ever takes controll of IBM? IBM put man on the moon.. And do have technology, way past that now..I don't have no hard feeling about China.. But if they controlled the technology of IBM?? They would rule..And U.S, would be??? To you yunguns..Whatever you do.. Don't never let another country, take over IBM.. Big deal, smart phones or what ever? IBM just keeps developing technology to benefit mankind...But in 'the wrong hands??
Just how smart are they? I can't figure out if they are dumb or smart?? They had a lot to do with 2 trillion in equitie in mkts being wiped out in last few days? How does that help anybody? If they have figured out out..It's beneficial to them.. They are about the only friend to N Korea.. And during this fiasco.. N. Korea claims to have tested a N. Bomb??? I sure can't figure out whats going on. But does seem China, is in controll?
Rate hike ain't got nothing to do with anything..Over the week end seems whole world went crazy..1st off China, trying to controll their currency.. Then N Korea.. Claiming they can build a N. bomb? And Saudia cutting heads off of 47 so called terrorist.. One being cleric from Iran.. Now both of them mad as 2 wet sitting hens, at each other..With all that BS going on..IBM is holding up good.. Earnings are coming.. And they may be great?? I'm with jack, IBM headed over $200. But?? If revenues dissapoite? Then you stuck with a stk worth $140. paying 3.78% dividend..
A few yrs ago, when they were profitable.. The ones running them.. Took all the earnings.. Sold as much stk as they could.. And borrowed as much against those bulkers as they could.. Now that was while they were profitable and had equity left in them bulkers.. Now there is big glut of bulkers.. And bulkers leasing for about 1/2 of what it cost to operate them.. If you doubt that..Check BDI.. Capes leasing for $4198. per day. Panys for $3595.. That won't cover salary for crew.. So far they have been able to borrow enough money or sell stk, to cover loses.. But those days are over.. Now they got more debt than bulkers are worth.. Take a fool to lend them any more money.. And If they try stk offering.. Take a fool to buy any more of their stk.. As every one of them needs to sell bulkers.. You figure out the rest...Bulkers are going to be selling cheap..