Bad News At Carnival

[yst347]

I am a mid level manager and always know what is going on months before it happens. I have to help decide through an HR guided ranking process.

 

Bill I see your point. If you were privy to coming layoffs, would you go on a client message board and anonymously layout the plan?

 

I'm not saying the cutbacks are false, I'm just taking a wait and see attitude. If they are real cutbacks it will be evident soon enough. I also don't think raising healthy skepticism is an attack on anyone, especially in light of recent events here on this board.

[RNCHHC]

This is cut from another thread. Odd that they would make cuts and announce an increase in dividends the same day.

 

 

ttp://www.prnewswire.com/cgi-bin/st...4566170&EDATE=

 

During the Carnival

Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) annual general meeting of

shareholders, held today in Southampton, UK, the company announced an

increase in its regular quarterly dividend of 27 percent to $0.35 per share

from $0.275 per share.

 

The announcement was made by Carnival's Vice Chairman and Chief

Operating Officer Howard Frank who noted that since the company's merger

with P&O Princess Cruises in April 2003, the company has more than tripled

its dividend to shareholders with the latest increase.

 

"This dividend increase reflects our management's confidence in the

future of our business. Carnival Corporation & plc is in the uniquely

enviable position of being able to aggressively pursue our growth

strategies - both through our $11 billion newbuilding program and

developing new markets in Europe and Asia - while still generating the cash

flow to return more added value to our shareholders in the form of

increased quarterly dividends and our share buy-back program," Frank said.

Since 2005, Carnival has repurchased $1.2 billion of its shares.

"Carnival remains committed to its previously stated policy of

returning excess cash to shareholders by increasing dividends as our

earnings grow, as well as continuing our stock repurchase program

opportunistically. We have approximately $770 million remaining under our

previously authorized stock repurchase program," he added.

[connergirls]

Ugh, that is definitely bad news. Unfortunately an all too common occurance these days. Those people work their tails off, that's for sure.

[bunting]

Thanks for that and really appreciate you answering so quickly....I dont think we have the Captain here, the speed of response and accuracy of the answer is good enough for me...sorry to hear your bad news and I do understand that a lot of times ship buzz far overtakes corporate PR releases (and that in the industry some pr releases are never made) and sometimes the heads up is sent to a ship long before the event so that people can plan and are not caught out... I would presume that people are being offered places on newer ships within the corporation and not full lay offs?

 

Maybe I should have explained that the US Immigration document required to be carried on shore in US ports by non US citizen or ARC holders among the crew is known as the I95....the response and accuracy of the OP proved to me that this is a crew member posting...

[Solo1959]

.....I choose to be here and so does every employee on the ship. I just think it is sad what they are doing to the employees. I have also said this doesnt effect me as much as others as I have a salary position, dont get tips and deal mainly with other management on the ships. If there is some type of proof you want just let me know and I will do my best to provide it for you. If you dont want to believe me thats ok too...but you will see the changes between now and december first. Maybe you wont even notice...maybe you will find the service the same. All I ask is you give the cabin stewards and the dining and bar staff a break when they look tired, busy, or your service isnt quite as fast as you would like. Just remember there will be 10% less of them

 

This is what happened with the airline. Service used to be decent, then the cost cutting came in. Break contracts with the pilots and crews, keep prices down, don't increase ticket prices and turn the entire industry into garbage.

I HOPE this doesn't happen with the cruise industry. Cruises are VERY nice now, a little cut here and there might not be perceptible, but in time it can destroy the cruise vacation. Again, look at today's air travel.

[Pegs222]

Why don't you try unionizing..........it worked for the Airlines. That industry now sucks. They completely forgot who pays their salaries.

 

Carnival would never go Union, they would fight it to the death. To be honest, I am not so sure how that would work anyway. The salary and the tips, they would have to match a living wage with over time and cost of living. There is just way to much involved in something like this for them to go Union which I am not sure they could do. And even if they did, Carnival can still lay off, so going Union will not do anything but give the employees more benefits.

[snownyet]

Why don't you try unionizing..........it worked for the Airlines. That industry now sucks. They completely forgot who pays their salaries.

 

 

Was it really unions? How about deregulation, or the patriot act?

[dclark]

My last CCL cruise was nothing like my first CCL back in '98. People didn't dress up like they used, some wore tank tops to the buffet w/o shoes, some of the people were down right trashy.

I really doubt they'd notice if they got cabin service only once a day instead of twice or if they replaced the orchestra with a recording.

If CCL thinks they can make more $ doing this, more power to them. Their number one obligation is to the shareholder (which I am ).

Don't think for a moment that there is "competition" in the cruise lines; CCL owns most of them, and what is left is NCL, RCL and other minor players like DIsney.

For example, if you want to go to the Carribean next summer, your choices are RCL or CCL, THAT'S IT! Check out RCL's prices fwiw, they are high.

Also, don't think that they are hurting, they aren't. They just want to increase profit. Overall, prices are up.Here's an example- compare prices for holiday cruises- they are the highest I have ever seen them yet. At this time each year is when you can get the best price. Three years ago, I got the xmas cruise on Vic for $500 a person. Following year, Glory ran me $600. Last year, the cheapest cruise was on Princess, $820. This year, almost all the xmas cruises are $900 and up.

[Carnival Crew Member]

Carnival would never go Union, they would fight it to the death. To be honest, I am not so sure how that would work anyway. The salary and the tips, they would have to match a living wage with over time and cost of living. There is just way to much involved in something like this for them to go Union which I am not sure they could do. And even if they did, Carnival can still lay off, so going Union will not do anything but give the employees more benefits.

 

To further this the majority of carnival employes are not USC and if carnival was to let us go(which they could do at any time based on the seafarers agreement) all visas would be invalid. Thus home we would go. Because we do not actually work in the states I dont think it would even be legally possible to form a union anyway. We are all considered seamen and have to sign the seafarers contract.

[halos]

Also, don't think that they are hurting, they aren't. They just want to increase profit. Overall, prices are up.Here's an example- compare prices for holiday cruises- they are the highest I have ever seen them yet. At this time each year is when you can get the best price. Three years ago, I got the xmas cruise on Vic for $500 a person. Following year, Glory ran me $600. Last year, the cheapest cruise was on Princess, $820. This year, almost all the xmas cruises are $900 and up.

 

I dunnno....

Oil prices being what they are, how can the cruise line NOT be hurting?????? Everyone else is.

[SandyW]

We've been through executive management changes in the airlines and these changes just seem too soon to me....even if they aren't projected to be totally in place until the first of the year. I hope for your sake that what you are saying isn't true. In my mind it doesn't make sense to try to fix something that doesn't need to be fixed. There has been a steady increase in cruise passengers....so I don't understand why there would be a need to gamble with changes as drastic as you say they are and give the "product" that will keep the people coming back cruise after cruise. It will be interesting to see what happens. I do know that my first thought when I read the CEO of Carnival was stepping down was I hope they don't make a bunch of changes because of this. Time will tell.

[RocHed11]

I'm sorry if this has been asked before, but if I may ask-What country are you from?. You sure can write the English language very well. Where did you learn it?

 

T

[KruznKel]

I'm sorry if this has been asked before, but if I may ask-What country are you from?. You sure can write the English language very well. Where did you learn it?

 

T

 

 

The OP said they were from Canada

[Carnival Crew Member]

I'm sorry if this has been asked before, but if I may ask-What country are you from?. You sure can write the English language very well. Where did you learn it?

 

T

 

 

I am from Canada