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Millie Repair Projections

Stock Cop

By Stock Cop,
in Celebrity Cruises

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Stock Cop

Stock Cop

Posted
Posted

According to RCI's press release to shareholders the cost to repair Millie is approx 14 cents per share. Given there are 212 million shares outstanding that brings cost to nearly $29 Million. Some expensive rock !!!!

 

I wonder how much insurance will cover, or is that the after insurance payment already figured in?

 

Rich :cool::cool:

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Lsimon

Lsimon

Posted
Posted

In general, any company's announced cost per share from an event would be net of any anticipated recoveries from insurance or elsewhere.

 

In RCCL's case, I rather doubt that this event would be insured. But that is just a guess on my part. But I do believe that if there was any insurance they would have included the offset in their press release of the financial impact.

 

The cost would not be just for the repair. It would include the anticipated impact of all costs and lost revenues from the accident and resulting cancelled cruises, net of any income tax benefit (unless they indicate otherwise). Including costs of refunds, customer credits, and other expenses of the event - such as the transportation they provided to many of the passengers on the ship.

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Andy

Andy

Posted
Posted
According to RCI's press release to shareholders the cost to repair Millie is approx 14 cents per share. Given there are 212 million shares outstanding that brings cost to nearly $29 Million. Some expensive rock !!!!

 

I wonder how much insurance will cover, or is that the after insurance payment already figured in?

 

Rich :cool::cool:

 

I wonder if someone will lose his/her job, or be reassigned?

 

Rich :cool::cool:

 

Hi Rich !

 

You are right about the number. I did that calculation last week, and came up with about $ 29.68 million. I would bet they are throwing the kitchen sink into that figure.

 

I also wonder if there will be changes due to all of this. At the very least, some folks have a lot of explaining to do. Only time will tell.

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Desertbelle

Desertbelle

Posted
Posted
Your comments pretty much agree with my thoughts on the costs.

I wonder if someone will lose his/her job, or be reassigned?

 

Rich :cool::cool:

I hope not....**** happens, it's a part of life and business.

I remember being a young woman and working in a flower shop. A VIP customer, who was very wealthy, brought in an antique vase that was very valuable and had been in their family for generations, to have some flowers arranged in it, to be given to her daughter who just had a baby. Yep, you guessed it, I broke it. I was mortified. I was sure I was going to be fired. Breaking the news, first to my boss and then to the customer was one of the hardest things I ever had to do. But, I didn't get fired, the boss was very calm, and the woman was so sweet, found another vase somewhere in the house, and all was OK. Thank goodness my boss didn't over-react. I, on the other hand, never let that happen again. :o

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98Charlie

98Charlie

Posted
Posted

Hi Margie!

 

My major mistake on the job involved a major typo in a news story. It was my third or fourth week on the job and was sure I'd get fired too. It truly was a bad typo that caused extreme embarrassment to a councilman in our town.

 

Lucky for me that my typo was not as bad as our paper's owner remembered from his first years. He was setting hard type in a small paper in Arkansas after getting out of the military following Korea. Seems a deacon of a local church was distraught and decided to shoot himself at the pulpit in front of a packed house in the church. Apparently my boss had had a long night when he finally set the type for the headline which came out the next morning in the local newspaper: ``Deacon sh..'s himself to death in front of congretation.

 

He didn't get fired for that one and I didn't get fired for mine.

 

Sometimes (things) just happen.:)

 

Dianne

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lusoamerican

lusoamerican

Posted
Posted

Thanks for sharing the detail about the cost. That is unreal...

 

We have cruised 5 times over the last 7 years and we never have had one single scary incident of any sort. But I have to say that my faith has been shaken some... the idea of what could have happened to the Millenium is a unsettling to me - considering that my husband, out three children and I will be on it this coming Tuesday the 24th (hopefully)... I will hav each of us pack a flashlight and ensure that -without scaring the kids, somehow - before going to sleep they know where their flashlight and their life-jacket is... The "age of cruising innocence" is over for me.

 

Breaking a beloved family-owned vase was unfortunate, but a mistake that could not cause anything to anyone but regret... and now it even makes us laugh! Allowing an "electric malfunction" to cause the ship to hit rocks... that is a disastrous mistake that could have cost many lives, if the rocks had hit something other than the propeller blades. It was just a matter of good fortune that it did not. Our kids are in their early teens. As preschoolers and elementary school kids, my husband would - once a month take each of them individually to Cracker Barrel to drill life lessons into their heads... One of those lessons was: "with privilege comes responsibility". Working in the capacity that makes you responsible for the lives of thousands of people is a privilege with great responsibility. So, yes, heads should roll and people should pay for this mistake. But I don't think I have to worry... the loss of millions of dollars that you have mentioned will ensure that accountability will take place!

 

Counting down the days 'til we board.... with joy and excitement!

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rebeccalouise

rebeccalouise

Posted
Posted

As in any ship travel- there is always the risk of the ship sinking- however, this is rare.

I am not worried in the slightest bit about sailing on the Millenium on July 24th (hopefully). There is no sense in scaring yourself to death. In fact, after this incident- I am sure that the Captain will be especially careful and they will make sure the electrical problem is fixed. They can't afford to miss anymore cruises.

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cruiselover68

cruiselover68

Posted
Posted
As in any ship travel- there is always the risk of the ship sinking- however, this is rare.

I am not worried in the slightest bit about sailing on the Millenium on July 24th (hopefully). There is no sense in scaring yourself to death. In fact, after this incident- I am sure that the Captain will be especially careful and they will make sure the electrical problem is fixed. They can't afford to miss anymore cruises.

 

Hi Rebecca,

Ianita e-mail me yesterday and said that ship supose to sail Today July 18 to Barcelona for next cruise and everything is fixed. Hopefully there will not be any problems with future sailings. Have a great cruise and please say Hello to Ianita from me. I am leaving to Canada tomorrow on cruise, going to Alaska on Mercury.

 

Yuliya

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rebeccalouise

rebeccalouise

Posted
Posted

have a wonderful time on your Alaska cruise! I love this board. Thank you so much for giving me that information. I was optimistic that everything would be ok by the 24th sailing but I am glad to hear it from Ianita. What a small world. Ianita is a great gal and I will be making a beeline for the spa on arrival to make my appointments with her.

 

Thank you so much for thinking of me and letting me know what's happening.

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cruiselover68

cruiselover68

Posted
Posted
have a wonderful time on your Alaska cruise! I love this board. Thank you so much for giving me that information. I was optimistic that everything would be ok by the 24th sailing but I am glad to hear it from Ianita. What a small world. Ianita is a great gal and I will be making a beeline for the spa on arrival to make my appointments with her.

 

Thank you so much for thinking of me and letting me know what's happening.

 

Rebecca,

 

Once again have a great cruise with your family and book your appointments in the spa as soon as you come on the ship to get the best times, I do not know why but on European cruises they booked fast and a lot of people end up being on waiting list. Try seaweed treatment with Ianita, just great.

Thanks for wishing me a wonderful time in Alaska, so much looking forward to it. I have never been there before.

Happy sailing to us !!!!!!!

 

Yuliya

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cruiselover68

cruiselover68

Posted
Posted
Hi, Yuliya,

Have a great trip! Hope your weather is great; Alaska is a beautiful destination and I know you will enjoy it.

 

Thank you Sue, I am so looking forward to this trip and very happy about it, when I come back I will send you some pictures.

Two more months and you will be going on your cruise on the fixed ship.

You must be happy too.

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