skridge Posted December 4, 2020 #26 Share Posted December 4, 2020 10 hours ago, Je Souhaite said: The biggest will be the first to fall. Hard. If the vaccine does not work and work quickly all of the lines will have to file bankruptcy, and all of the people that have been glad to float these billion dollar companies interest free loans will lose all of that money. 1 1 Link to comment Share on other sites More sharing options...
travelhound Posted December 4, 2020 #27 Share Posted December 4, 2020 20 hours ago, volfan22701 said: no too much to worry about if he only sold 5 million and kept 80 million. i would worry if it was the other way around. Yup, it doesn't sound like a big deal. 2 Link to comment Share on other sites More sharing options...
travelhound Posted December 4, 2020 #28 Share Posted December 4, 2020 7 hours ago, BlerkOne said: and CCL closed UP over 8% today @ $22.88!!!!!!!!!!!!!!!!!!!!! 52 week low is $7.80!!!!!!!!!!!!!!!!!!!!!!!!!!! Yup, the stock is doing well, but it still has a long way to recover. Hopefully over the the next couple of years CCL will be back to it's glory days 🙂 1 Link to comment Share on other sites More sharing options...
pc_load_letter Posted December 4, 2020 #29 Share Posted December 4, 2020 Nice! I didn't even realize CCL was above $20. Stopped watching it back in Oct some time. 2 Link to comment Share on other sites More sharing options...
bitemyfly Posted December 4, 2020 #30 Share Posted December 4, 2020 In own a couple of cruise stocks ( bought at the bottom months ago) along with some US airline stock too. I would hope and expect that all public companies take whatever advantage they can get by filling protections when it is necessary. it’s not a terrible move if it keeps it floating with a upside to thriving and growing . They were making money pre virus , they will make money post virus.. stuff will change but money will be continued to be made. Regardless of most protections or a filing a company takes. 2 Link to comment Share on other sites More sharing options...
SNJCruisers Posted December 5, 2020 #31 Share Posted December 5, 2020 On 12/3/2020 at 11:37 AM, JaxsMama said: I still don't believe the cruise industry will survive this. I hope it does but I'm not wagering my money on it. So are we to assume then that this will be your last post on CC? If you don't respond, then you have responded. 2 Link to comment Share on other sites More sharing options...
Purvis1231 Posted December 5, 2020 #32 Share Posted December 5, 2020 (edited) On 12/4/2020 at 7:32 AM, skridge said: If the vaccine does not work and work quickly all of the lines will have to file bankruptcy, and all of the people that have been glad to float these billion dollar companies interest free loans will lose all of that money. I agree if the vaccine does not work then the cruise lines are doomed although I confident the vaccines will work and the pandemic will be over soon. Even once the pandemic is over the cruise lines are out of the woods since there is a new world order who generally believe cruise lines are evil corpations bent on destroying the world's oceans. These people will use the threat of other pandemics to keep sailing down and prices high. I am afraid major cruises lines will have to merge and greatly reduce the number of ships. Edited December 5, 2020 by Purvis1231 typo Link to comment Share on other sites More sharing options...
Cafedumonde Posted December 8, 2020 #33 Share Posted December 8, 2020 Boy this is a negative crowd. CCL is a deal and will be through the roof within 5 years. 2 Link to comment Share on other sites More sharing options...
Rare broberts Posted December 8, 2020 #34 Share Posted December 8, 2020 I doubt any of the large cruise lines will go bankrupt. They simply owe far to much on what are currently essentially worthless assets. Creditors are far more likely to keep feeding them cash until operations can return to normal. 2 Link to comment Share on other sites More sharing options...
firefly333 Posted December 8, 2020 #35 Share Posted December 8, 2020 FBN was saying when insiders are selling it's time to sell, the market is overvalued. PFE insider also sold, and many others. Not just Arrison. Almost the best ever November run up on anticipation of future earnings. .. with the except of a few growth like Amazon, many are fully valued for right now. Priced to perfection as they say. Link to comment Share on other sites More sharing options...
asalligo Posted December 8, 2020 #36 Share Posted December 8, 2020 (edited) Does anyone else find it Ironic that we are talking about Carnival filing bankruptcy and their CEO sitting on 16 billion in funds in the same thread. This is what is wrong with corporations today. Edited December 8, 2020 by asalligo 1 Link to comment Share on other sites More sharing options...
john91498 Posted December 8, 2020 #37 Share Posted December 8, 2020 4 hours ago, asalligo said: Does anyone else find it Ironic that we are talking about Carnival filing bankruptcy and their CEO sitting on 16 billion in funds in the same thread. This is what is wrong with corporations today. He's not the CEO, he's the chairman. And if you think the 16 billion is bad, get this...if Carnival files for bankruptcy, he's guaranteed that money... 2 Link to comment Share on other sites More sharing options...
Denverdonkeys Posted December 8, 2020 #38 Share Posted December 8, 2020 49 minutes ago, john91498 said: He's not the CEO, he's the chairman. And if you think the 16 billion is bad, get this...if Carnival files for bankruptcy, he's guaranteed that money... I am curious why you think he is guaranteed that money? I think we have a typo, his CCL stock would be worth about 1.6 Billion (approximately $20 a share and 80 million shares, using what was quoted above). If CCL goes bankrupt and he doesn't sell first, it will be pennies on the dollar at most. 1 Link to comment Share on other sites More sharing options...
john91498 Posted December 8, 2020 #39 Share Posted December 8, 2020 it is a typo. Good catch. I'm almost certain that the stocks he has is Series A. Link to comment Share on other sites More sharing options...
jaydubya Posted December 13, 2020 #40 Share Posted December 13, 2020 Seems to me that American auto makers and airlines have filed for bankruptcy in the past, and they are still alive and kicking. Question: since Carnival Corp is incorporated in Panama, wouldn't it need to file under the Panamanian Insolvency Law? Things could go differently than if it could file under US bankruptcy laws. 1 Link to comment Share on other sites More sharing options...
chengkp75 Posted December 13, 2020 #41 Share Posted December 13, 2020 1 hour ago, jaydubya said: Seems to me that American auto makers and airlines have filed for bankruptcy in the past, and they are still alive and kicking. Question: since Carnival Corp is incorporated in Panama, wouldn't it need to file under the Panamanian Insolvency Law? Things could go differently than if it could file under US bankruptcy laws. US bankruptcy laws allow foreign corporations to restructure according to US law if they do business in the US. Link to comment Share on other sites More sharing options...
Denverdonkeys Posted December 14, 2020 #42 Share Posted December 14, 2020 On 12/8/2020 at 3:48 PM, john91498 said: it is a typo. Good catch. I'm almost certain that the stocks he has is Series A. My review of their SEC filings shows no preferred shares, I would not be surprised if he had shares with super votes, but I also don't see that anywhere, and back when CCL/CUK went public, that structure was not as popular. Tech companies are the ones abusing that now. I think he holds common shares, and there is no protection for his current investment value (unless he did some sort of option activity). Link to comment Share on other sites More sharing options...
elcuchio24 Posted December 14, 2020 #43 Share Posted December 14, 2020 On 12/4/2020 at 1:49 AM, BlerkOne said: and CCL closed UP over 8% today @ $22.88!!!!!!!!!!!!!!!!!!!!! 52 week low is $7.80!!!!!!!!!!!!!!!!!!!!!!!!!!! RCL up 3X in the past 9 months as well, made a giant pile of $$$$ this year off of cruise and airline stocks, vegas too. 1 Link to comment Share on other sites More sharing options...
elcuchio24 Posted December 14, 2020 #44 Share Posted December 14, 2020 On 12/8/2020 at 9:24 AM, firefly333 said: FBN was saying when insiders are selling it's time to sell, the market is overvalued. PFE insider also sold, and many others. Not just Arrison. Almost the best ever November run up on anticipation of future earnings. .. with the except of a few growth like Amazon, many are fully valued for right now. Priced to perfection as they say. thats certainly an investors prerogative. But most of the folks that are scared now were also the ones scared this spring and never caught the massive gains. Make sure your choices are non-emotional, and you'll always be in good shape Link to comment Share on other sites More sharing options...
Rare BlerkOne Posted December 14, 2020 #45 Share Posted December 14, 2020 19 hours ago, chengkp75 said: US bankruptcy laws allow foreign corporations to restructure according to US law if they do business in the US. Carnival is dual listed so probably UK law is involved, too. Link to comment Share on other sites More sharing options...
Rare BlerkOne Posted December 14, 2020 #46 Share Posted December 14, 2020 Micky Arison net worth is 6.2 billion (2020) so I don't know where the 16 billion comes from. Both he and his sister have various trusts, also, I assume. 1 Link to comment Share on other sites More sharing options...
chengkp75 Posted December 14, 2020 #47 Share Posted December 14, 2020 4 minutes ago, BlerkOne said: Carnival is dual listed so probably UK law is involved, too. It doesn't matter where the company is incorporated, the US has some of the most favorable bankruptcy laws around, so foreign corporations use the US law in lieu of their country of incorporation. Link to comment Share on other sites More sharing options...
Rare BlerkOne Posted December 14, 2020 #48 Share Posted December 14, 2020 2 minutes ago, chengkp75 said: It doesn't matter where the company is incorporated, the US has some of the most favorable bankruptcy laws around, so foreign corporations use the US law in lieu of their country of incorporation. It doesn't matter, Carnival isn't going bankrupt. 2 Link to comment Share on other sites More sharing options...
ProgRockCruiser Posted December 14, 2020 #49 Share Posted December 14, 2020 On 12/3/2020 at 11:30 AM, JaxsMama said: And this is why I recently sold all my cruise stocks and opted for a refund in cash. I cant see how bankruptcy isn't in the future. On 12/3/2020 at 11:34 AM, jimbo5544 said: You do realize this type of thing happen all the time. Exactly. For any publicly traded company, it is quite usual for executives to pre-plan any stock trading well in advance, and for it to occur outside of the so-called blackout periods that surround the quarterly announcements. If someone in his position just suddenly called his/her broker and said "Sell it! Now!" red flags would go up so fast they'd cause sonic booms. Link to comment Share on other sites More sharing options...
firefly333 Posted December 15, 2020 #50 Share Posted December 15, 2020 On 12/4/2020 at 7:32 AM, skridge said: If the vaccine does not work and work quickly all of the lines will have to file bankruptcy, and all of the people that have been glad to float these billion dollar companies interest free loans will lose all of that money. What's to stop them for selling more stock like they been doing and diluting the stock. Doesnt help the stock price, but they been doing it already. Link to comment Share on other sites More sharing options...
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