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re: South LA is like Detroit now
Posted on 3/9/17 at 5:15 pm to Thib-a-doe Tiger
Posted on 3/9/17 at 5:15 pm to Thib-a-doe Tiger
The boat companies are all in a massive world of hurt. If the offshore oil industry was an organism, the OSV companies would be the anus.
GLF, TDW, HOS, Harvey, Chouest are all in a massive world of hurt right now. Take a drive around Houma and Amelia and look at the massive amounts of stacked boats, many brand new.
GLF, TDW, HOS, Harvey, Chouest are all in a massive world of hurt right now. Take a drive around Houma and Amelia and look at the massive amounts of stacked boats, many brand new.
This post was edited on 3/9/17 at 5:15 pm
1
Posted on 3/9/17 at 5:16 pm to Thib-a-doe Tiger
quote:
Sad to see so many people out of work, pay cut, etc. Even not being in the oilfield, my livelihood has taken a beating.
Everywhere I see is hiring and people are spending. Wtf are you on about
Posted on 3/9/17 at 5:16 pm to ellishughtiger
Lots of folks say they are out for good. I call them liars. As soon as people can make 100k+ working 7/7, there will be a flood of people coming back
Posted on 3/9/17 at 5:18 pm to WavinWilly
Seacor is really the only company that remains strong just because how diversified they are.
TDW will restructure
HOS balance sheet looks okay but they are still hurting and have shareholders to answer to. They'll be okay.
Harvey is hurting and owes Wall Street a lot of money
ECO is in big trouble
TDW will restructure
HOS balance sheet looks okay but they are still hurting and have shareholders to answer to. They'll be okay.
Harvey is hurting and owes Wall Street a lot of money
ECO is in big trouble
Posted on 3/9/17 at 5:18 pm to Thib-a-doe Tiger
quote:
Did the main industry in Detroit downsizing or moving not cause a lot of the struggles Detroit has now?
So I'm just going to go ahead and take that as a no then.
Posted on 3/9/17 at 5:21 pm to tgrbaitn08
quote:
ECO is in big trouble
They'll be ok, but I bet it's not fun to be in management or accounting right now
The debt load of buying all the shipyards that are no longer making boats for ECO must be massive
Posted on 3/9/17 at 5:22 pm to Thib-a-doe Tiger
Paying $800mm for Bollinger then closing down a few yards can't be fun either.
Posted on 3/9/17 at 5:24 pm to tgrbaitn08
I really don't get how HOS is getting away with not taking impairments for depreciating their vessels. You can barely sell the boats for scrap right now.
Posted on 3/9/17 at 5:26 pm to AbitaFan08
quote:
So I'm just going to go ahead and take that as a no then.
Care to shed some light? They are in double digits for unemployment and are significantly above the Michigan and national averages
Excuse me, they just dropped to 9.8. Print the shirts
This post was edited on 3/9/17 at 5:30 pm
Posted on 3/9/17 at 5:27 pm to WavinWilly
HOS has a pretty young fleet. I don't think they have a boat older than 15 years old. Not much depreciation
Posted on 3/9/17 at 5:27 pm to tgrbaitn08
My bro worked at Bollinger in Larose for 18 years. Got moved to Amelia and got a promotion. 8 months later he was back in Larose
Posted on 3/9/17 at 5:29 pm to Thib-a-doe Tiger
I'm just pointing out that you are saying South Louisiana is "like Detroit now" without ever having set foot there.
A large part of Somalia's income is based on offshore work. So is South Louisiana's. Having never been to Somalia, I think it's fair to say South Louisiana is like Somalia.
A large part of Somalia's income is based on offshore work. So is South Louisiana's. Having never been to Somalia, I think it's fair to say South Louisiana is like Somalia.
This post was edited on 3/9/17 at 5:30 pm
Posted on 3/9/17 at 5:30 pm to Thib-a-doe Tiger
Larose is closed. They may only have 2 people working in that office. Maybe You mean Lockport?
Posted on 3/9/17 at 5:30 pm to sjmabry
quote:
Sell that Chackbay Seasoning by the gram
Gives me the runs.
Posted on 3/9/17 at 5:31 pm to tgrbaitn08
Yeah. They're all Larose to me.Lockport gets no respect
Posted on 3/9/17 at 5:32 pm to Thib-a-doe Tiger
It's all "down da Bayou" to me 
Posted on 3/9/17 at 5:39 pm to Thib-a-doe Tiger
Not going to get better if trump cuts the coast guard
Posted on 3/9/17 at 5:40 pm to tgrbaitn08
I have a client who got laid off from ECO, went to Crosby for 60% of the pay, and based on what I heard from a 3rd party, Crosby is now laying off. Dude might get laid off twice in 5 months
Posted on 3/9/17 at 5:42 pm to Art Vandelay
quote:
Not going to get better if trump cuts the coast guard
Buying Bollinger is probably already a losing venture based on the debt. Once the Coast Guard deal dries up for those cutters, that yard will be in a bind. I bet Boysie feels like a genius
This post was edited on 3/9/17 at 5:44 pm
Posted on 3/9/17 at 5:52 pm to Thib-a-doe Tiger
Boysie supported Mary Landrieu and she lost. If he didnt sell out he was going to lose those contracts anyway.
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