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Vercin Getarix

Vercin Getarix
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  • Royal Caribbean Revenues Show Promise Going Forward [View article]
    19922191, again, I have heard this story before. Reminds me of a situation I ran into years ago. A friend of mine, a lawyer, was booked on a weekend cruise with NCL. When he got to the pier they denied him boarding since his sailing mate only had zerox copies of citizenship papers and denied him any refund. Incidentally this was before 9-11 and the new very tough rules. He lost his $500. He complained to the line and got no satisfaction in any form. At the time I knew the president of NCL; a stuffed shirt by the name of Adam Aron. I sent him a note about this case and I said in big capital letters, "DO NOT PASS THIS LETTER ON TO THAT GIRL WHO HANDLES COMPLAINTS BECAUSE I KNOW SHE WON'T DO ANYTHNG FOR HIM AND HE WILL SUE YOU and it will cost you plenty."
    But Adam did pass the complaint over to that girl; she did nothing, and so my lawyer friend sued. He ended up with them giving him a $1000 stateroom to sail at his convenience plus the cost of their lawyer's time. My lawyer friend probably spent a few buck for the filing fee and a shortened lunch hour
    You mention Fain. He is Ok but not a dynamic leader. I had the opportunity to question him about a few thing over the years and he didn't impress me. I remember the time the US government went after him and the company for one of their ships deliberately poluting by dumping waste oil over board. They were found guilty of a felony and had to paid millions in fines. When I questioned Fain about it and why a ships crew would do that he just had no idea.
    I rememeber Fain sort of thinking out loud when CCL was up to 20 ships and RCL had only 5: he said, "I guess we should have been building more ships."
    These are the kind of people you have to deal with if you want any satisfaction. Being nice will not work with them.
    And lastly, I remember the time RCL just about had everything locked up to buy Princess cruise line and CCL came in with their sharp lawyers and took it away from them.
    Aug 8, 2015. 08:33 PM | Likes Like |Link to Comment
  • Royal Caribbean Revenues Show Promise Going Forward [View article]

    1992.. Interesting story. Me? been cruising since 1960 on all the lines and about 70 ships - many of them already scraped and recycled into razor blades, or what have you. I have heard your story many times of indifference and incompetence occurring on many different lines but never on the few top lines like Crystal, Silver Seas, Seabourne, etc. You wrote a good story here but it will have no good outcome for you. It must be sent to upper management and in your letter tell them exactly what will make you happy and leave out your complaint about stock holders discount; that should be in a separate letter.
    Since you seem to have documented the situation it might be a good idea to casually mention that you talked to a lawyer about it. I doubt if they will give you refund check but maybe a coupon good for a 25% or more discount on you next cruise. If you have a real live travel agent who actually sells a lot of RCL, maybe he/she will do the fighting for you. Let us know how it turns out.
    Aug 7, 2015. 03:06 PM | 1 Like Like |Link to Comment
  • General Motors Is Taking Profits Off Road [View article]
    Are you related to the late Don Ehrman of Canada and Miami?
    Aug 7, 2015. 02:31 PM | Likes Like |Link to Comment
  • Sirius XM Needs Strong Subscriber Growth And Margin Expansion To Justify Its Current Price [View article]
    You seem to have mastered the jargon of your craft but next time convert it to plain English so us simple folk can understand it.
    Jul 9, 2015. 02:24 PM | 7 Likes Like |Link to Comment
  • Carnival Corporation Is Far From A Sinking Ship [View article]
    DRINK POLICY; This whole thing is based on the ship lines trying to control the behaviour of the passengers. This current drink policy started many years ago = maybe 15-20 years ago. Now all the lines prohibit carrying booze aboard. It started with Carnival when they sought out school classes celebrating graduation. What resulted was the kids (moatly underage) would get off the ship at the various ports and buy booze and then bring it aboard and then have their own cheap parties and then stagger around the ship being drunk and disorderly. Remember, if you are old enough, that in those days carnival was the Walmart of the lines. Well, times change and Carnival changed. Carnival is now in the same class as RCL and NCL. Carnival bar tenders are now required to cut off a patron who has too much to drink and strictly enforce age limits. Remember the case of the guy throw off his Royal Caribbean balcony supposedly by some Russian thugs and his wife was found drunk and passed out in the hall way?
    However, there have always been people who want to beat the sytem and instead of buying drinks at the bar want to bring, i.e, smuggle, alcohol aboard. Mainly by preloading empty water bottles with gin, vodka or other clear alcohol.Wine drinkers just had to hope the bottles of wine packed in their suitcase would not be discoverd at check-in. Personally, it has never been a problem to me on my 65 cruises but I did object to their old policy on canned Cokes. I did smuggle a six pack or two aboard.
    Jul 7, 2015. 03:05 PM | 2 Likes Like |Link to Comment
  • Royal Caribbean Shareholders Are Cruisin' For A Bruisin' [View article]

    finally, someone who is willing to tell it as it is.
    Jul 1, 2015. 11:25 AM | 3 Likes Like |Link to Comment
  • Royal Caribbean Is Setting Sail Into The Sunset [View article]
    Now, 20 Apr, a month or so after your predictions I read this

    Royal Caribbean (NYSE:RCL) reports higher fuel costs and F/X swings were a $0.05 drag in Q1.
    The company's net yield fell 1% during the quarter.
    Passenger ticket revenue -3.1% to $1.306B.
    Onboard and other revenue -5.8% to $508.82M.
    Demand was clipped by the impact F/X had on pricing.
    Apr 20, 2015. 10:38 AM | Likes Like |Link to Comment
  • Carnival: Reiterating Price Target After A Strong Start To 2015 [View article]

    excellent article. clear and consise. However, next time try to explain some of the "corporate-speak" jagron they and you use as metrics; e.g, segment level expense.
    Apr 2, 2015. 11:15 AM | Likes Like |Link to Comment
  • Carnival - This Ship Has Sailed, The Good News Has Already Been Priced In [View article]
    Buy it now and I bet you will make 12% on your money within the next 12 months.
    Mar 30, 2015. 10:02 AM | Likes Like |Link to Comment
  • NCL Gets Bid On Weaker Euro [View article]
    Thanks for the compliment. Although I have a historical and operational understanding of all the major lines, I would not write an article on cruise lines because of the accuracy required. For example, in just talking about currency and before I could both generalize and be specific I would have to spend the time to research just exactly what percentage of their cruises are paid for in Euros or other foreign currency.
    Without doing much work I can easily say CCL has more foreign divisions and therefore collects more in foreign currency. Being lazy I can say that in general foreign currencies have lost about 12 to 17 percent of their value against the dollar. I now realize that although I have had many conversations with big shots from the cruise lines, I never asked any of them exactly how they determine the prices in Euros, Pounds, Yen,Canadian dollar or what have you. And also if there is a currency change can they adjust the cruise prices. Often customers book a cruise in advance - maybe anywhere from a year to a few days -- and give a deposit. Final payments are generally not required until a couple of months in advance of sailing. CCL gets, for example, a 1000 Euros for a Costa cruise, puts into the European bank and then wants to convert it to US dollars. Oh no! It is now worth 16% less than planned. They, in effect, just sold a cruise at cost or even below cost.
    And that is why I expect to hear at the next earning reports from all 3 lines, CCL, RCL and NCL that the cost of currency conversion hurt earnings. And, maybe by a lot.
    Mar 10, 2015. 10:47 PM | Likes Like |Link to Comment
  • NCL Gets Bid On Weaker Euro [View article]
    For starters, sir, you don't call them "boats" but you should call them "ships."
    Secondly, Norwegian is not, and was not "industry's second-leading player ,... "
    It was and still is a distant third. CCL being 1st and RCL 2nd. However, if you are old enough to remember back to the 1970s, they were 1st and you might say owned the Caribbean. However, Ted Arison of CCL took his profits and built more ships when RCL and NCL profits went to the mostly European owners. I remember Arison claiming that they made enough money in one year to buy 4 new ships for cash. NCL went through a long period of financial difficulty and barely limped along while having a mediocre reputation with the cruising public and the travel agent community. Carnival strongly considered buying them but a Malaysian gambling company called Genting bought into them and infused some cash and finally NCL was able to buy brand new ships. Their reputation has improved.
    Now another idea that you have I feel is wrong. The cheap Euro will not help cruise lines. American cruisers pay for the majority of the European cruises in USD currency before the even take the cruise. The cheap Euro is of minor significance to them and only comes into play if they get off the ship and shop in the ports. Obviously that is not true for folks that fly to Europe and have hotels and food to buy once there. However for the cruises that the lines sell to Europeans there is the problem of converting Euros to dollars and that is where the lines will take a hit.
    Lastly, I am not so sure that Frank Del Rio is the man for such a big operation. He had a checkered past when president of Renaissance cruises - a line that went broke.
    Mar 7, 2015. 05:17 PM | 1 Like Like |Link to Comment
  • Barra Low-Balling GM Prospects For 2015 [View article]
    "...like the Alabama coach worrying to death about Vanderbilt."
    I liked that line. You really know how to explain things
    Jan 10, 2015. 04:32 PM | 1 Like Like |Link to Comment
  • New CEO appointed at Norwegian Cruise Line Holdings [View news story]
    Didn't Renaissance Cruises go broke under his leadership?
    Jan 9, 2015. 10:38 AM | Likes Like |Link to Comment
  • Carnival May Not Offer The Smoothest Ride To The Bank [View article]
    WONDERLAND, I can see how you came to your conclusion but as someone who has closely followed the cruise lines since the 1960s, what you report is not that unusual. I remember the days. say in 1980, where you could walk up to the docks on the day of sailing and get a cabin. Not now. The lines have learned how to fill up the ships even if it takes half price offers months in advance. They have learned how to use discount travel agencies. How to use email and other forms of mail and advertizing. I get these offers too from almost all the lines except Regent and Silverseas. There logic is this; an empty cabin produces no revenue at all. I can't rememmber off hand, you can look it up, but a healthy percentage of profit comes from what they call "on board spending;" casinos, bars, gift shops, land excursions, spas, etc. Also, notice that CCL says they have 104% occupancy. A good friend of mine works for them at the docks in Miami and swears to me all the Carnival ships sail full. As an experiment call the lines you mention a 4 or 5 days before sailing and tell us what they say; they just might say, "
    Sorry, ship is sold out."
    Dec 17, 2014. 09:51 PM | Likes Like |Link to Comment
  • Cheniere: Why I Will Not Invest Now [View article]
    This stock is definitely for patient long term investors.
    Nov 18, 2014. 01:56 PM | Likes Like |Link to Comment
COMMENTS STATS
62 Comments
59 Likes