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Maverick61

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About Maverick61

  • Rank
    Cool Cruiser

About Me

  • Location
    Pennsylvania
  • Interests
    Relaxing
  • Favorite Cruise Line(s)
    I enjoy a variety
  • Favorite Cruise Destination Or Port of Call
    Caribbean

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  1. Consider using Lift and Shift to move in back a year to Oct 21. That will also delay your final payment date
  2. OUCH - the rates they had to pay are beyond junk bond rates.. They are desperation rates. Not a good sign financially Royal Caribbean Cruises Ltd. (NYSE: RCL) (the "Company") today announced that it has priced its private offering of $1.0 billion aggregate principal amount of 10.875% Senior Secured Notes due 2023 (the "2023 Notes") and $2.32 billion aggregate principal amount of 11.500% Senior Secured Notes due 2025 (the "2023 Notes," together with the "2025 Notes", the "Notes"). The 2023 Notes will mature on June 1, 2023. The 2025 Notes will mature on June 1, 2025 and are redeemable at the company's option beginning June 1, 2022. The Notes are expected to be issued on or around May 19, 2020.
  3. Interestingly the SEC document does not list the terms of the new notes. Seeing what rate they are in the market at will be a good guide to their situation and how desperate they are. Some tidbits from the SEC filing: As of March 31, 2020, the Company had $2.4 billion in customer deposits. This includes approximately $0.8 billion of future cruise credits related to previously announced voyage cancellations through June 11, 2020. The Company also continues to take future bookings for 2020, 2021 and 2022, and receive new customer deposits and final payments on these bookings. As of April 30, 2020, the Company had liquidity of approximately $2.3 billion all in the form of cash and cash equivalents. On May 4, 2020 the Company increased the 364-day senior secured loan agreement and drew $150 million, further enhancing the Company’s liquidity profile. The Company estimates its cash burn to be, on average, in the range of approximately $250 million to $275 million per month during a prolonged suspension of operations. The Company has taken significant actions to reduce operating expenses during the suspension of its global cruise operations. In particular, we: · significantly reduced ship operating expenses, including crew payroll, food, fuel, insurance and port charges; · further reduced operating expenses as the Company’s ships are currently transitioning into various levels of layup with several ships in the fleet transitioning into cold layup; · eliminated or significantly reduced marketing and selling expenses for the remainder of 2020; · reduced and furloughed our workforce, with approximately 23% of our US shoreside employee base being impacted; and · suspended travel for shoreside employees and instituted a hiring freeze across the organization. The Company estimates that its average ongoing ship operating expenses and administrative expenses are approximately $150 million to $170 million per month during a prolonged suspension of operations. The Company may seek to further reduce this average monthly requirement under a further prolonged non-revenue scenario.
  4. And Stubhub, another ticket seller has barely issued any refunds and changed their policy to not issue refunds to your credit card - instead providing only credit that can be use on their site in the future
  5. Hmmm, no calls for me for my May 10 cruise. Only time spent was about a minute on April 15 to fill out the online form saying I want a refund and not FCC. Refund showed up about 2 weeks later. Painless and easy process that took virtually no time
  6. Great. I was wondering how Lift and Shift may work with a cabin booked under an agency's group rate with refundable deposit . Sounds like it will be an option available to us if we desire to use it. Thanks for all the great info here
  7. Smooth process for me. Was on a May sailing on Harmony that was cancelled by Royal. I didn't contact them until April 15 to opt for the refund instead of FCC on the cruise. I received a partial refund on one credit card on April 28 and the rest of the refund on a different credit card on April 30. Quick and easy and painless
  8. If it is in the tax code, it is not a loophole. It is the law. I am sure you take advantage of every thing available to you in the tax code that can save you on taxes. Everyone should - that is why the provisions are in the code, to be used Oh - and it isn't lawyers who deal with this, it is Tax Accountants / CPAs. A corporation or individual doesn't need to hire an expensive attorney as you claim. Many of the deductions are straightforward and put in place by Congress for a reason (for example accelerated depreciation or Section 179 deductions are specifically put in place to spur investment that benefits the economy). Put another way, the IRS allows tax deductions to promote certain behaviors, like saving for retirement, or to make the tax code fair to all taxpayers. Everyone should take all the ones you are entitled to.
  9. You do realize of course that most corporations do pay taxes. Sure, anyone can find some in a particular year that do not, but there are reasons for that. You also do realize a $15 minimum wage would destroy a lot of jobs. The free market economy works in setting appropriate compensation
  10. Emphatic NO. They are not US Corporations and they do not pay US Taxes. If they want a bailout, they can go get bailed out in the tax haven they are incorporated in
  11. Sort of - but in a good way. I had 100% refunded, exact to the penny. But I believe a portion of it should have been in FCC - however received all 100% back to my CC. So not complaining at all.
  12. Smooth process for me. Was on a May sailing on Harmony that was cancelled by Royal. I cancelled the one item in the cruise planner back in March when this occurred and got my refund within a few days for it I didn't contact them until April 15 to opt for the refund instead of FCC on the cruise. I was really surprised to see a partial refund on one credit card on April 28 and the rest of the refund on a different credit card on April 30. Quick and easy and painless
  13. OOOF. Guess it would help if I had that feature turned on. Thanks
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