spanishguy1970 Posted May 5, 2020 #176 Share Posted May 5, 2020 (edited) 25 minutes ago, seaman11 said: dont know why cruises would be almost happy the line could go under. but this is just the media, real businessmen know how things work, they had to file had to disclose it by law and are fishing for investors, likely they will get some. well i am far from Happy, I love going on a cruise in fact NCL has been the only cruise line i have been on. I was planning on looking into booking a few Celebrity cruises but this virus thing occurred so going on a cruise wont happen anytime soon for us. However, i do think this is a blessing in disguise that if these cruise lines survive they need to restructure and appreciate customers more, NCL was getting ridiculous with their nickel and dime and i hope they now realize without us there are no cruises. This will stop their constant building of bigger ships while declining our experience on them. IMO. Edited May 5, 2020 by spanishguy1970 1 1 Link to comment Share on other sites More sharing options...
zqvol Posted May 5, 2020 #177 Share Posted May 5, 2020 3 minutes ago, NightOne said: I would be willing to sell mine for $100 a piece ($25 each loss for me) but the question is where can I sell them easiest? And I want to sell all 4 at once so $400. EBay and PayPal take too big a cut for my tastes. if you can get 10 cents on the dollar you will be lucky. No one in their right mind will do anything with NCL right now. 2 1 Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted May 5, 2020 #178 Share Posted May 5, 2020 2 minutes ago, julig22 said: I have the same - but the flaw (I think) in your logic is that they might not pay out any more than the amount you paid for your fare on the card - plus, I think somewhere buried in the terms is something about certificates not being covered. But if you lost your luggage, then that $5 would activate the policy! Also, check your coverages carefully; I have cards that include free insurance/travel protection, etc., but stipulate the entire booking must be made on the card, no partial payments for partial coverage, for example Link to comment Share on other sites More sharing options...
William W Posted May 5, 2020 #179 Share Posted May 5, 2020 1 minute ago, tallnthensome said: I never said the SEC report was written by them. The way you keep stating they are fishing for investors Makes it sound like they are using this bad news to their advantage or strategically. They have been fishing for months. I agree with you here. They were forced to disclosed this due to regulatory requirement. Imagine, who in the right mind will book with NCL now. In fact, if I were one of their supplier, I will definitely look into cutting them off their credits. With this news, there will be a slew of cancellation of customers trying to get their money back before they declare bankrupt. It is probably like a bank run at NCL right now. I couldn't imagine any sane business person will use this to fish for investors, the publication of this news more or less just accelerated their death spiral and any investors or lenders out there will ask for better terms when dealing with someone desperate. 1 Link to comment Share on other sites More sharing options...
Formula280SS Posted May 5, 2020 #180 Share Posted May 5, 2020 1 hour ago, PelicanBill said: The is both a required SEC filing AND a press release. 3 of them, in fact, all posted on the Investor relation site for NCL. Agreed. 1 hour ago, PelicanBill said: It is a required signal that finances are precarious in the short term - meaning about 6 months. Exactly what several of us were saying in response to the last press release. And that's give or take depending on debt restructuring, securing more debt, and the rate of cancellations and refunds requests. Taking on debt likely does mean accepting a financial controlling interest from a private equity firm or something similar. Just a technical comment, the new "Going Concern" standards per the AICPA are the ability to sustain** for a 1-Year period "from the issuance of the Financial Statements" (I believe they issued their 2019 10-K 2/27/2020). **When Management Is Required to Make a Specific Evaluat$400M ion Under the Applicable Financial Reporting Framework https://www.aicpa.org/research/standards/auditattest/downloadabledocuments/sas_132.pdf 5. Some financial reporting frameworks explicitly require management to evaluate the entity’s ability to continue as a going concern for a reasonable period of time and provide disclosures related to the entity’s ability to continue as a going concern. For example, FASB Accounting Standards Codification© (ASC) requires management to evaluate whether there are conditions and events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued, when applicable).3 1 hour ago, PelicanBill said: it DOES mean that NCL is admitting they cannot sustain as they are, and must make financial changes to survive or else enter Chapter 11. Agreed. 1 hour ago, PelicanBill said: Let's hope it does not come to Chapter 11. That process injects 4-6 months of additional uncertainty while they go through restructuring. If they do it sooner, rather than later, it would probably chew up the down time. However, there are a lot of credits, senior unsecured, ship-by-ship secured, public debt deferrals, new $400M private equity debt (convertible), proposed/needed $650M added debt (maybe also convertible) and $350M stock issuance (hard to see a market for stock when we do not know the convertible terms of the above-referenced debt; i.e., at what stock price?). If cruising resumed, while in bankruptcy, a bit more complicated if the request permission from the bankruptcy court, with interim financing, etc. all very, very difficult. 1 Link to comment Share on other sites More sharing options...
Corliss Posted May 5, 2020 #181 Share Posted May 5, 2020 Read the Chicago Tribune article I linked above. It sets out their plan. They have gotten a 400 million investment IF they can raise 1 billion more....part through debt and the rest through equity offerings. Link to comment Share on other sites More sharing options...
Yorkvillain Posted May 5, 2020 #182 Share Posted May 5, 2020 (edited) Any word from Cruise Critic on when they are going to close the NCL section of the forum? Edited May 5, 2020 by Yorkvillain 5 3 Link to comment Share on other sites More sharing options...
tallnthensome Posted May 5, 2020 #183 Share Posted May 5, 2020 1 minute ago, Yorkvillain said: Any word from Cruise Critic on when they are going to close the NCL section of the forum? Maybe NCL will charge us to enter this area of the site like they do for Vibe passes. God knows they could use the money. 2 1 Link to comment Share on other sites More sharing options...
ECCruise Posted May 5, 2020 #184 Share Posted May 5, 2020 NCL being upfront with this SEC filing is "trolling for investors" is akin to not bathing or brushing your teeth for a week, wearing unwashed clothes that are practically rags and 2 shoes of different styles and going on a blind date is "looking for a spouse." 1 1 1 Link to comment Share on other sites More sharing options...
Rare Newleno Posted May 5, 2020 #185 Share Posted May 5, 2020 2 minutes ago, ECCruise said: NCL being upfront with this SEC filing is "trolling for investors" is akin to not bathing or brushing your teeth for a week, wearing unwashed clothes that are practically rags and 2 shoes of different styles and going on a blind date is "looking for a spouse." thats how i met my wife 5 5 Link to comment Share on other sites More sharing options...
Heartfelttraveler Posted May 5, 2020 #186 Share Posted May 5, 2020 Link to comment Share on other sites More sharing options...
ECCruise Posted May 5, 2020 #187 Share Posted May 5, 2020 1 minute ago, Newleno said: thats how i met my wife Good plan, then! 😉 Link to comment Share on other sites More sharing options...
PelicanBill Posted May 5, 2020 #188 Share Posted May 5, 2020 11 minutes ago, Formula280SS said: ... However, there are a lot of credits, senior unsecured, ship-by-ship secured, public debt deferrals, new $400M private equity debt (convertible), proposed/needed $650M added debt (maybe also convertible) and $350M stock issuance (hard to see a market for stock when we do not know the convertible terms of the above-referenced debt; i.e., at what stock price?). --- Having been through it, another dimension is the discharge and restructuring of all third party contracts. Every lease, every supplier agreement, every contract for advertising, every supplier that operates docks, terminals, does maintenance, supplies fuel... every. single. one. has to be presented to the court through the bankruptcy manager, and determined to be one of: discharged, restructured with agreement, or re-justified as is. That too a long time! Link to comment Share on other sites More sharing options...
GettotheSun Posted May 5, 2020 #189 Share Posted May 5, 2020 Oh well...looks like those of us with FCC may be up the creek without a paddle. At least we don't have "murder hornets"...oh, never mind. I spent far too much money on my planned cruise. I'm out quite the stack if they go belly up. Oh well, I did have fun planning it. Maybe I'll pretend I actually went on the cruise and write a review. Ya, that will make me feel better. lol 4 Link to comment Share on other sites More sharing options...
Heartfelttraveler Posted May 5, 2020 #190 Share Posted May 5, 2020 (edited) Deleted Edited May 5, 2020 by Heartfelttraveler Link to comment Share on other sites More sharing options...
ECCruise Posted May 5, 2020 #191 Share Posted May 5, 2020 1 minute ago, Heartfelttraveler said: I love the "negative press" meme. As if the direct words in the 8K didn't provoke it. So disingenuous. 3 Link to comment Share on other sites More sharing options...
Trimone Posted May 5, 2020 #192 Share Posted May 5, 2020 Were being monitored by NCL, don’t like adverse publicity do they? Link to comment Share on other sites More sharing options...
Rare mking8288 Posted May 5, 2020 #193 Share Posted May 5, 2020 24 minutes ago, AdoraBelle said: (Nearly/almost ) Everyone knows Florida is cooking the books on their death rates. https://www.businessinsider.com/florida-officials-stop-publishing-coronavirus-death-toll-data-2020-4 There, fixed it for you. Just my edits to help ... since, some clearly disagreed and remained in "denial" (I say that as an early-retired licensed mental health professional, summoned among others registered volunteers across our state last month to respond to help with support, including Fatality Management Task Force) - a clinical diagnosis. PTSD is the other wave inbound. All I can say is that among the few P+ cruisers, some of them that we are in touch with by other means, are most definitely staying off the playing field behind the sidelines, and aren't in a hurry to gamble with our money. Yes, we have 4 CN certificates that we are prepared to lose, not a big deal in the grand scheme of things. If NCL filed & go under, we got more losses to claim against our Capital Gains, LOL. Facts of life ... just be glad to not be among the officially reported 70,000 in history-making USA. 2 Link to comment Share on other sites More sharing options...
Corliss Posted May 5, 2020 #194 Share Posted May 5, 2020 This apparently was written for employees, not for the public. "We appreciate you and the incredible support you and your team provide." 1 Link to comment Share on other sites More sharing options...
NightOne Posted May 5, 2020 #195 Share Posted May 5, 2020 8 minutes ago, Heartfelttraveler said: Source? Link to comment Share on other sites More sharing options...
Rare Newleno Posted May 5, 2020 #196 Share Posted May 5, 2020 2 minutes ago, ECCruise said: I love the "negative press" meme. As if the direct words in the 8K didn't provoke it. So disingenuous. I also find it troubling from a legal/financial/investor situation, you just put out an 8k, and now you are saying you "we expect to be well positioned to weather this storm." gamblers better take notice, who you gonna believe 1 Link to comment Share on other sites More sharing options...
Trimone Posted May 5, 2020 #197 Share Posted May 5, 2020 Well I’m not allowed to mention my fantastic NCL representative because the moderator won’t allow it, but his boss can contribute to the site? 2 minutes before removal starting Now Link to comment Share on other sites More sharing options...
tallnthensome Posted May 5, 2020 #198 Share Posted May 5, 2020 (edited) I just read that they have two ships up for collateral now as well as both Great Stirrup Cay and Harvest Caye. I must have missed that earlier, Edited May 5, 2020 by tallnthensome Link to comment Share on other sites More sharing options...
ECCruise Posted May 5, 2020 #199 Share Posted May 5, 2020 1 minute ago, Corliss said: This apparently was written for employees, not for the public. "We appreciate you and the incredible support you and your team provide." Could easily be for TAs. 1 Link to comment Share on other sites More sharing options...
Heartfelttraveler Posted May 5, 2020 #200 Share Posted May 5, 2020 5 minutes ago, NightOne said: Source? http://www.nclhltdmedia.com/ Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now