Got my proxy statement. Voted against all the directors.

[Guest BasicSailor]

5 hours ago, mz-s said:

But I keep getting told in other threads that I am paying for my cruises through gambling even though I only cruise Carnival with free room offers. Which is it?

 

5 hours ago, icft said:

Careful! Don't step in that gum 😁

BlerkOneI have no plans to.😉

 

 

Edited March 18, 2023 by BasicSailor

[BoozinCroozin]

Unless you are extremely high up in the company, Hedge Fund Manager, or a MM, your vote is barely a part of the rounding error. There are about 10-12 institutions that own over 50% of the shares. They are the ones that make the decisions. There is no retail investor that would ever be a vote to sway a decision one way or another.

[jimbo5544]

On 3/16/2023 at 2:36 PM, ontheweb said:

OK, here's my rational reason. I do not like the way they are going about their business.

 

We took our first cruise in 2002 for our 25th anniversary, a Western Mediterranean cruise out of Barcelona. The entire travel industry including cruises were hurting as an aftermath of the horrific events of 9/11. All of us who had bought cruise line transfers were given a free tour of
Barcelona prior to embarkation instead of just being forced to wait. 10 years later for our 35th anniversary we did a very similar cruise itinerary from Barcelona. This time without the cruise lines hurting, we were just forced to wait with very few amenities.

 

My point is that when things are not going as well as you wish they were, the best way to recapture and keep customers is by making the product better, not worse. And yes, I know basically all cruise lines are doing these cutbacks and price increases, but Carnival claims to be a leader in the industry, not a follower. The best way to improve your business is to improve it, not degrade it. JMHO.

COVID 

[mz-s]

2 minutes ago, jimbo5544 said:

COVID 

 

COVID (or rather, this country's haphazard response to COVID) certainly caused them to pile up a lot of debt to keep the company going in the interim. But COVID isn't why they're still not a profitable business. We're coming up on the start of the third year of cruising after the COVID pause.

Edited March 18, 2023 by mz-s

[jimbo5544]

4 minutes ago, mz-s said:

 

COVID (or rather, this country's haphazard response to COVID) certainly caused them to pile up a lot of debt to keep the company going in the interim. But COVID isn't why they're still not a profitable business. We're coming up on the start of the third year of cruising after the COVID pause.

Sure it is, it is the MAIN reason.  24 billion in debt, 10’s of thousands using their OBC to basically cruise for free.  Don’t fool yourself, it is the main reason, hence the one word post.  I can give mode detail if you want.

Edited March 18, 2023 by jimbo5544

[mz-s]

1 minute ago, jimbo5544 said:

Sure it is, it is the MAIN reason.  24 billion in debt, 10’s of thousands using their OBC to basically cruise for free.  Don’t fool yourself, it is the main reason, hence the one word post.

 

If they're not profitable in this revenge travel bubble, they will never be profitable again without reorganization.

[ontheweb]

15 hours ago, stobe1 said:

 

I think you don't know the difference of the roles between the Board of Directors and Executive Management.

 

And the comparisons you tried to make are beyond asinine.

The Board of Directors sets general policy while the executive management runs the ompany day to day. If what they do does not align with the Board's policy, it is time to get rid of them (as someone else has already posted).

 

I spent 5 years as an elected (unpaid) School Board member so I know the distinction between general policy and day to day decisions.

[icft]

2 hours ago, ontheweb said:

The Board of Directors sets general policy while the executive management runs the ompany day to day. If what they do does not align with the Board's policy, it is time to get rid of them (as someone else has already posted).

 

I spent 5 years as an elected (unpaid) School Board member so I know the distinction between general policy and day to day decisions.

Do folks still go on the FBI terrorist watch list if they disagree with you even though you are no longer on a school board? 😬😁

[jimbo5544]

6 hours ago, mz-s said:

 

If they're not profitable in this revenge travel bubble, they will never be profitable again without reorganization.

Re read the 2nd sentence.  

[mz-s]

4 minutes ago, jimbo5544 said:

Re read the 2nd sentence.  

the company predicted profitability over a year ago. They haven’t given all that OBC or the extreme discounts for years either, that was pretty much only during the pause to keep people from asking for refunds as cruises were cancelled. 

[jimbo5544]

4 minutes ago, mz-s said:

the company predicted profitability over a year ago. They haven’t given all that OBC or the extreme discounts for years either, that was pretty much only during the pause to keep people from asking for refunds as cruises were cancelled. 

Not arguing with the why they did it.  The facts are they HAD TO DO IT to maintain viability.  The last two billion they borrowed they had to use 7 of the corporations last made ships as collateral.  All of this fun brought on by something NOT of their own design or fault.    

[mz-s]

18 minutes ago, jimbo5544 said:

Not arguing with the why they did it.  The facts are they HAD TO DO IT to maintain viability.  The last two billion they borrowed they had to use 7 of the corporations last made ships as collateral.  All of this fun brought on by something NOT of their own design or fault.    

 

Sure but you are making it sound like the discounting they did 3 years ago is why they are still unprofitable today. If they are unable to make a profit today, after the discounting and OBC giveaways have been over for years - then their debt service is too high to be sustainable in their industry. The only path forward is reorganization.

[jimbo5544]

9 minutes ago, mz-s said:

 

Sure but you are making it sound like the discounting they did 3 years ago is why they are still unprofitable today. If they are unable to make a profit today, after the discounting and OBC giveaways have been over for years - then their debt service is too high to be sustainable in their industry. The only path forward is reorganization.

I make it sound that way because it is a fact.  Prior to covid, discounting was minimal.  Go back and look at their debt service is 2019.

[BlerkOne]

38 minutes ago, mz-s said:

the company predicted profitability over a year ago. They haven’t given all that OBC or the extreme discounts for years either, that was pretty much only during the pause to keep people from asking for refunds as cruises were cancelled. 

Before a major war, high oil prices, supply chain issues, locusts and other plagues.

[mz-s]

1 minute ago, BlerkOne said:

Before a major war, high oil prices, supply chain issues, locusts and other plagues.

 

Cry me a river. If wishes and buts were candy and nuts.

[BlerkOne]

1 minute ago, mz-s said:

 

Cry me a river. If wishes and buts were candy and nuts.

It's reality. No drama required.

[icft]

2 minutes ago, mz-s said:

 

Cry me a river. If wishes and buts were candy and nuts.

It would be painful to sit down..

[mz-s]

2 minutes ago, BlerkOne said:

It's reality. No drama required.

 

Never ending excuses work for politicians maybe, but thankfully the invisible hand of the market has a strong nose for BS and $CCL's trajectory reflects that.

[ontheweb]

11 minutes ago, BlerkOne said:

Before a major war, high oil prices, supply chain issues, locusts and other plagues.

Locusts and other plagues??? This sounds like a crisis of Biblical proportions.

[mz-s]

8 minutes ago, ontheweb said:

Locusts and other plagues??? This sounds like a crisis of Biblical proportions.

 

That's nothing - let me tell you about the bacon crisis...

[BlerkOne]

9 minutes ago, ontheweb said:

Locusts and other plagues??? This sounds like a crisis of Biblical proportions.

It's code.

[SwordBlazer Cruising]

8 hours ago, mz-s said:

 

COVID (or rather, this country's haphazard response to COVID) certainly caused them to pile up a lot of debt to keep the company going in the interim. But COVID isn't why they're still not a profitable business. We're coming up on the start of the third year of cruising after the COVID pause.

Yes, it is. Covid was the catalyst and remains the reason why they are paying back billions at not the very best of interest rates. No major publicly traded cruise company is profitable, because of Covid. They can’t catch up. NCL tried to keep their rates high, it failed. CCL keeps their rates low, it has failed. The beat goes on. 

[mz-s]

3 minutes ago, SwordBlazer Cruising said:

Yes, it is. Covid was the catalyst and remains the reason why they are paying back billions at not the very best of interest rates. No major publicly traded cruise company is profitable, because of Covid. They can’t catch up. NCL tried to keep their rates high, it failed. CCL keeps their rates low, it has failed. The beat goes on. 

And as I said, the only path forward is reorganization. 

[BlerkOne]

No doubt some would vote for Smithfield Packing company to run the corporation. That would be very shortsighted.

[ontheweb]

2 hours ago, mz-s said:

 

That's nothing - let me tell you about the bacon crisis...

As a vegetarian, the "bacon crisis" does not bother me in the least.