Substantial Doubt of 'Going Concern'

[Fido Chuckwagon]

2 hours ago, NightOne said:

 

What fantasy land are you living in? LOL

 

" possible that most of these ships end up mothballed and sold for scrap"

 

when that date arrives make sure you are well armed and have plenty of ammo

So you equate the cruise lines failing because most people are smart enough to realize that it’s not safe to cruise for themselves and for those they end up exposed to, and because of an economic downturn.... with the collapse of society?  One of us is certainly living in a fantasyland.  

[CoasterGuy]

 

 

  

On 5/5/2020 at 12:52 PM, CrankyOldGuy said:

 

OK, your obscure site with no references to where they are getting their data trumps a major newspaper....

You win!!!   

 

On 5/5/2020 at 12:56 PM, Corliss said:

https://mediabiasfactcheck.com/worldometer/

• Overall, we rate Worldometer Least Biased based on strictly providing data and statistics. We also rate them High for factual reporting due to the use of official sources and clearly disclaiming that the information provided is estimates.

 

OWNED.

Edited May 7, 2020 by CoasterGuy

[EscapeFromConnecticut]

4 hours ago, Fido Chuckwagon said:

So you equate the cruise lines failing because most people are smart enough to realize that it’s not safe to cruise for themselves and for those they end up exposed to, and because of an economic downturn.... with the collapse of society?  One of us is certainly living in a fantasyland.  

Fido Chuckwagon - Perhaps both you and I missed class that day in World History when the instructor said "The first and surest sign of an entire culture's implosion is the financial failure of a luxury recreation endeavor. It's what happened to the Mayans, the Incas, the Ming Dynasty ... once their cruise industries retreated into red ink, the whole cultures were doomed."
 

The "cruising is going to start again in June" folks on CC really have a lot to teach us. 
 

[Fido Chuckwagon]

5 minutes ago, EscapeFromConnecticut said:

Fido Chuckwagon - Perhaps both you and I missed class that day in World History when the instructor said "The first and surest sign of an entire culture's implosion is the financial failure of a luxury recreation endeavor. It's what happened to the Mayans, the Incas, the Ming Dynasty ... once their cruise industries retreated into red ink, the whole cultures were doomed."
 

The "cruising is going to start again in June" folks on CC really have a lot to teach us. 
 

You’re right, who can forget how World War I was started when Archduke Francis Ferdinand was unable to get free room service.

[KeepCalmBearOn]

7 hours ago, Fido Chuckwagon said:

So you equate the cruise lines failing because most people are smart enough to realize that it’s not safe to cruise for themselves and for those they end up exposed to, and because of an economic downturn.... with the collapse of society?  One of us is certainly living in a fantasyland.  

 

Ya mean like the 80,000 people who packed the beach in Newport Beach? Those smart people?

[GlamorousGirl]

I’m not panicking yet. Filing bankruptcy and going out of business are NOT the same thing, and plenty of companies file without going out of business

[Mrdodgy]

OK they have raised significant funds - They are safe for the moment and that has to be good news.

 

But a proforma balance sheet of the company after this capital raising and we do not know how long the no cruise situation will continue shows it  is very different to the company at Feb 2020. Management have done a great job a shoring up matters but going forward the pricing model and new fleets are going to change. I assume that the new money has been lent on the basis that no new borrowing for new ships is undertaken as the current payback in 2024 is huge. Remember loan notes have to be repaid they are simply that loans!! 

[beerman2]

6 hours ago, scottca075 said:

 

Ya mean like the 80,000 people who packed the beach in Newport Beach? Those smart people?

And that is why you can't trust people to adhere to the social Distancing. "It won't happen to me"!  

 

Not sure which tourist area will spike first , however I'd be willing to bet there WILL be at least one.

[mking8288]

41 minutes ago, beerman2 said:

And that is why you can't trust people to adhere to the social Distancing. "It won't happen to me"!  

 

Not sure which tourist area will spike first , however I'd be willing to bet there WILL be at least one.

 

Not the greater NY region, still bending the curves but the spike is said to be on the rise for the rest of the country as a whole. Don't worry, going to take 2 to 3 weeks to find out. 

 

Wait, Princess & Holland pushing their dates to start further back on a very limited scale over in Asia.  Gotta hope and pray these days 🙏 no matter what. Just saying ... Get real. 

[NightOne]

20 hours ago, Fido Chuckwagon said:

So you equate the cruise lines failing because most people are smart enough to realize that it’s not safe to cruise for themselves and for those they end up exposed to, and because of an economic downturn.... with the collapse of society?  One of us is certainly living in a fantasyland.  

 

Quit watching the news. It is rotting your brain. LOL

 

Who says it will not be safe to cruise in the future? Oh yeah, those "news" people that would have you believe every cruise ship is a floating norovirus den.

 

If you want to be all doom and gloom go ahead but don't expect everyone to be onboard with your point of view.

 

I'm sure there was some guy looking at the beaches of Normandy on June 6th, 1944 saying there was no way that our troops could take the beachheads and drive the Germans all the way back to Berlin and finish them off there. Luckily, there were a lot more people who knew otherwise and weren't a bunch of crybabies who bet against the American people and what they can accomplish.

 

This too shall pass. This COVID-19 problem will be in the rear view mirror soon regardless of what the "news" says about it.

[CrankyOldGuy]

17 hours ago, CoasterGuy said:

OWNED.

 

Not in the least.....  Do some basic research.  Who owns and operates WorldOMeter????  A company called Dadax.  Google that and it points to a company in China in spite of them saying that they are American.   But no one can find an American Dadax. 

 

 

 

 

Edited May 7, 2020 by CrankyOldGuy

[SeaWatcher65]

On 5/5/2020 at 5:55 PM, latserrof said:

 

Better check your card benefits; Under "what's not covered:"

 

Financial insolvency of the Cardholder’s travel agency, tour operator, or travel supplier

 

https://www.chase.com/card-benefits/sapphirereserve/travel

Wow.  Chase conveniently changed that.  I have a pdf file of their Guide to Benefits (effective August 2018) that specifically states financial insolvency IS COVERED.  It's a good idea to to frequently check what terms of their card benefits change.  

 

 

[SeaWatcher65]

On 5/5/2020 at 6:10 PM, latserrof said:

Thanks. Your link appears to be for CS PREFFERRED, which appears to cover insolvency.  My earlier link appears to be for CS RESERVE, which appears to NOT cover insolvency. It appears all CS cards are not created equal.

You are correct.  I have a 2018 version of the benefits that says this is covered: 

• Financial insolvency of the Cardholder’s travel agency, tour operator, or travel supplier

But Chase clearly changed that in 2019 to NOT be covered.  I just checked their website and downloaded a new benefits booklet updated in December 2019.  

[Formula280SS]

On 5/6/2020 at 12:06 PM, Formula280SS said:

With the equity issuance in place @ $11 and calculating the exchanged-convertible debt 25% premium, looks like NCL will have the ability  to "sustain" for a year+ which may allow them to update their 8K and 10Q for the subsequent events (debt and equity capital raise) and withdraw the 'Going Concern" disclosure.

 

Their 1st quarter 10-Q is expected to report a preliminary first-quarter loss of $1.8 billion to $1.93 billion, compared with a profit of $118.2 million in the same quarter last year. However, it is expected that that includes impairment losses, which include charges off of intangible assets goodwill and trade names, are expected to be between $1.54 billion and $1.66 billion for the quarter due COVID 19.

 

Yep, as expected, the first-quarter came in as projected.

[npcl]

On 5/7/2020 at 11:54 AM, NightOne said:

 

Quit watching the news. It is rotting your brain. LOL

 

Who says it will not be safe to cruise in the future? Oh yeah, those "news" people that would have you believe every cruise ship is a floating norovirus den.

 

If you want to be all doom and gloom go ahead but don't expect everyone to be onboard with your point of view.

 

I'm sure there was some guy looking at the beaches of Normandy on June 6th, 1944 saying there was no way that our troops could take the beachheads and drive the Germans all the way back to Berlin and finish them off there. Luckily, there were a lot more people who knew otherwise and weren't a bunch of crybabies who bet against the American people and what they can accomplish.

 

This too shall pass. This COVID-19 problem will be in the rear view mirror soon regardless of what the "news" says about it.

I think the 72 people that caught COVID (reported this morning) while attending an open up demonstration in Wisconsin probably felt the same way.

 

WE will get by this eventually, but eventually is not going to be in 2020

Edited May 14, 2020 by npcl

[Formula280SS]

50 minutes ago, npcl said:

I think the 72 people that caught COVID (reported this morning) while attending an open up demonstration in Wisconsin probably felt the same way.

 

WE will get by this eventually, but eventually is not going to be in 2020

 

Well, as usual, reports by the media should be presumed to be 'biased at least, and likely 'wrong upon first sight.

 

Wisconsin's Department of Health Services said 72 people who tested positive for COVID-19 on or after April 26 attended a large gathering not long before.

 

"The DHS has not specifically tracked whether the 'large gathering' was the rally so it is not possible to confirm individuals contracted the virus there.

 

First, it was the # of people IN THE STATE OF WISCONSIN.

 

Second, THAT TESTED POSITIVE AFTER THE """""DATE""""" OF THE PROTEST.

 

Third, it is NOT POSSIBLE TO CONFIRM individuals contracted the virus there (i.e., at the protest).

 

Again, some media outlets (ugh) are stating conclusively was you're first sentence states.  

 

 

[NightOne]

On 5/14/2020 at 1:45 PM, npcl said:

 

WE will get by this eventually, but eventually is not going to be in 2020

 

In your opinion 🙂

[Ozzieru1e]

On 5/5/2020 at 7:07 PM, julig22 said:

Paying off your credit card has nothing to do with getting a refund - you will just have a credit balance, which you can leave to pay off other bills or you can request a check.  You are correct that the clock starts when you were made aware that the cruise was cancelled, not the date you paid.

 

However, the fact that you have not gotten a temporary credit does not bode well - those are usually applied immediately, but that depends on the bank.  You don't say whether or not you have applied for a refund through NCL.

 

Visa has said they may not accept disputes if the merchant isn't able to provide the service.

"A dispute for goods or services not received will only be considered valid the following criteria are met:

• The submission includes a detailed explanation of the cause of the dispute.
• The merchant is able to provide service, but fails to do so
• The cardholder has already attempted to resolve the dispute with the merchant directly."

 

 

Yes I submitted NCL Refund Form on 3/23/2020 but 90 days is too long a wait time for reimbursement.  After I submitted the refund form I felt NCL was giving me the runaround whenever I called about any refund status e.g. beverage/dining/prepaid service charges & shore excursions.

You are right that generally credit card banks usually give temporary credit during their dispute claims research process.  

After 25 calendar days passed since I filed my dispute claims without receiving temporary credits, I decided to re-contact my bank concerning the progress/status of my dispute claims; however I was told to check back in a week...I guess it was because originally I was told within 30 days they will get back to me!  The next day I received an email with a time sensitive message giving me ONE WEEK to submit additional documentation to support my dispute claims otherwise the investigation of my dispute claims will be CLOSED (e.g. detailed letter surrounding the services NCL failed to provide, copy of invoice/confirmation guest copy with a breakdown of charges, list of attempts made to resolve disputes with NCL).

I faxed requested additional info & the next business day I finally received temporary credits on my credit card...meanwhile my bank indicated they are giving NCL 60 days to respond to my dispute claims.