Natalee Case Discussion #802 2/21/09 - 2/25/09

[Kermit]

After selling off close to 100 million in stocks,having no money to continue the search for Natalee Holloway,and continuing to ask for donations???Something must be somewhat Hinky???You sounded like Rainman there for a second!Bad,very bad,very,very bad!!!

 

LOL @ rainman

From the movie Rainman

Raymond: Uh oh fart. Uh oh fart.
Charlie: Did you fart, Ray? Did you f'ing fart?
Raymond: Fart.
Charlie: [trying unsuccessfully to open the door] How can you stand that?
Raymond: I don't mind it.
Charlie: How can you stand it?
Raymond: Ten minutes to Wapner. We're definitely locked in this box with no TV.


No more off topic 2nj.Just thought the humor was good!

That scene was for real. Tom Cruise said that Dustin Hoffman farted when they were about to do the scene and they just went with it and ad-libed.

[crazymom]

Hey Monkeys!!! Long time no see.  I was listening to the radio this morning and they were talking about Natalee Holloway.  It made me smile to know that Natalee is not forgotten by more than just us!

I was wondering if someone could tell me who/what blue monkeys is? TIA

Hey, crazymom!!!!  Long time not see.  I have no idea what blue monkeys is.....some thoughts come to mind, but they are just hmmmmmm things.   

Sometimes m fingers work fast than my mind. I meant Gold Monkeys.

[klaasend]

Hey Monkeys!!! Long time no see.  I was listening to the radio this morning and they were talking about Natalee Holloway.  It made me smile to know that Natalee is not forgotten by more than just us!

I was wondering if someone could tell me who/what blue monkeys is? TIA

Sorry... I meant Gold Monkey.

Goldmonkey is a forum that Carnut started.  I'm sure if any of the members have your email address you will be getting an invite soon   There are some current SM members there and some banned members.

[Keepthefaith]

After selling off close to 100 million in stocks,having no money to continue the search for Natalee Holloway,and continuing to ask for donations???Something must be somewhat Hinky???You sounded like Rainman there for a second!Bad,very bad,very,very bad!!!

 

LOL @ rainman

From the movie Rainman

Raymond: Uh oh fart. Uh oh fart.
Charlie: Did you fart, Ray? Did you f'ing fart?
Raymond: Fart.
Charlie: [trying unsuccessfully to open the door] How can you stand that?
Raymond: I don't mind it.
Charlie: How can you stand it?
Raymond: Ten minutes to Wapner. We're definitely locked in this box with no TV.


No more off topic 2nj.Just thought the humor was good!

That scene was for real. Tom Cruise said that Dustin Hoffman farted when they were about to do the scene and they just went with it and ad-libed.

Now that's funny Kermit!We should take a poll and see how much many we think these gentleman happened to stash in OFFSHORE ACCOUNTS...anyone

[crazymom]

Hey Monkeys!!! Long time no see.  I was listening to the radio this morning and they were talking about Natalee Holloway.  It made me smile to know that Natalee is not forgotten by more than just us!

I was wondering if someone could tell me who/what blue monkeys is? TIA

Sorry... I meant Gold Monkey.

Goldmonkey is a forum that Carnut started.  I'm sure if any of the members have your email address you will be getting an invite soon   There are some current SM members there and some banned members.

Thanks.  I read here as much as possible but not as much as I would like!  I try to stay a little caught up. 

[crazymom]

After selling off close to 100 million in stocks,having no money to continue the search for Natalee Holloway,and continuing to ask for donations???Something must be somewhat Hinky???You sounded like Rainman there for a second!Bad,very bad,very,very bad!!!

 

LOL @ rainman

From the movie Rainman

Raymond: Uh oh fart. Uh oh fart.
Charlie: Did you fart, Ray? Did you f'ing fart?
Raymond: Fart.
Charlie: [trying unsuccessfully to open the door] How can you stand that?
Raymond: I don't mind it.
Charlie: How can you stand it?
Raymond: Ten minutes to Wapner. We're definitely locked in this box with no TV.


No more off topic 2nj.Just thought the humor was good!

That scene was for real. Tom Cruise said that Dustin Hoffman farted when they were about to do the scene and they just went with it and ad-libed.

Now that's funny Kermit!We should take a poll and see how much many we think these gentleman happened to stash in OFFSHORE ACCOUNTS...anyone

In Aruba?

[cajun miracle]

I need some help please When did Silvetti ask for Donations at BFN and what address did he ask the donations be sent to....

Also can anyone tell me the date of this article....TIA

http://www.klfy.com/Global/story.asp?S=7429813

I have been at Dr appointments all day with DH so I'm just now getting to research some more on the PO Box in Kemah but I do have it narrowed down to a few names.

 

Hotping, If I remember this was in our local paper the week that the Persistance was to leave for Aruba.

[Keepthefaith]

After selling off close to 100 million in stocks,having no money to continue the search for Natalee Holloway,and continuing to ask for donations???Something must be somewhat Hinky???You sounded like Rainman there for a second!Bad,very bad,very,very bad!!!

 

LOL @ rainman

From the movie Rainman

Raymond: Uh oh fart. Uh oh fart.
Charlie: Did you fart, Ray? Did you f'ing fart?
Raymond: Fart.
Charlie: [trying unsuccessfully to open the door] How can you stand that?
Raymond: I don't mind it.
Charlie: How can you stand it?
Raymond: Ten minutes to Wapner. We're definitely locked in this box with no TV.


No more off topic 2nj.Just thought the humor was good!

That scene was for real. Tom Cruise said that Dustin Hoffman farted when they were about to do the scene and they just went with it and ad-libed.

Now that's funny Kermit!We should take a poll and see how much many we think these gentleman happened to stash in OFFSHORE ACCOUNTS...anyone

In Aruba?

Could be a probability!

[snoopy]

Hey Monkeys!!! Long time no see.  I was listening to the radio this morning and they were talking about Natalee Holloway.  It made me smile to know that Natalee is not forgotten by more than just us!

I was wondering if someone could tell me who/what blue monkeys is? TIA

Good to see you calm.... I mean crazymom.  Hope things are going well  Don't know about no blue monkeys, but then I don't know Jack ecxept that me thinks Silvettin and some others might be coming into a whole lot of trouble.

[texasmom]

Truth & Justice for Natalee!

Goodnight everyone!   

[Keepthefaith]

Goodnight TM!

[Lifesong]

This is fascinating:

Superior Offshore International Q3 2007 Earnings Call Transcript

November 15, 2007

http://seekingalpha.com/article/54414-superior-offshore-international-q3-2007-earnings-call-transcript?source=bnet&page=1


Here's a clip from the Q & A:

<snip>

Operator
Here next question comes from the line of Alan Laws of Merrill Lynch.
Alan Laws - Merrill Lynch
Hi guys, good morning.
Jim Mermis
Good morning.
Alan Laws - Merrill Lynch
I have got a few questions here for you. I don't know how much you are going to want to answer some of them, but the first one has to do with the international, in your international contracts and what you see or what you have as bids in hand, and when do you expect to announce additional contracts here to establish maybe some backlog to back up you should 320 to 350 revenue forecast for next year?
Jim Mermis
Yes, Alan, we are very actively biding projects in West Africa and the Middle East. We’ve got some $300 million worth of bids out. We expect awards to start happening pretty soon. To tell you we have a project in our hand for Africa and the Middle East, we do not.
But within the next few weeks, we believe that projects will be awarded, and we have been shortlisted and told that we were the frontrunner for some of the significant projects we are bidding.
We’ve also got work in hand in Trinidad, half of the BP project, and as I said previously, we have already picked up other work in Trinidad for two other operators there with an ROV vessel. So we're feeling pretty good about the future coming up internationally.
Alan Laws - Merrill Lynch
Okay. Last quarter you had mentioned a $100 million three-year contract out of the Middle East. Where is that? Is it still out there, or did that go away?
Jim Mermis
No, no, that contract is still out there with the Middle East religious holidays, etc., it has not been awarded yet, but once again, we anticipate that is going to be awarded in the near-term future.
Alan Laws - Merrill Lynch
Okay. The second question, a little harder here, this is the second quarter in a row that you are in violation or default of your debt facility covenants, and now it looks from the text of your comments here today on the call that from the release that you are having trouble securing the financing that you will really require through the next year.
Can you talk a little bit about your liquidity and how you are going to firm that up a little?
Roger Burks
Sure. I will talk to those. Roger Burks. We had a covenant violation related to the capital expenditures and because of the second quarter, and to expand we also had it on EBITDA. We are working with our banks that are currently in place.
The revolver, the revolving credit facility bank, which is Chase, we have adjusted the covenants and the go forward for our liquidity on a working capital basis. As far as the term loan, we currently have one bank that is in there.
They offered us certain options, and we decided to go forward with another choice. That choice we thought we were very close to signing the commitment letter, and accordingly we are very comfortable with our liquidity position going into next year.
As you can see the first nine months of this year, we had $117 million of capital expenditure. We have two payments right around the end of the year for the Achiever, totaling right around $16 million, and then we are effectively in very solid shape going into the next year for our capital expenditure plans.
Alan Laws - Merrill Lynch
Okay. But for CapEx last quarter you said $26 million for the balance. You spend $29 million in the third quarter. What is the CapEx balance for fourth quarter?
Roger Burks
$17 million.
Alan Laws - Merrill Lynch
$17 million? And then for next year, we have something like 50 to 60 for the completion of the Achiever. Is that not right?
Roger Burks
I believe that number is $38.6 million or $39 million, $38 million for the rest of the Achiever. The Achiever is being met. We have, as you noticed, in the management release, Tom Armstrong joined our Company. He is the Vice President of special projects, and his first special project is to focus on the Achiever.
We have other items that we are focusing on, but a few of the moves that have been made is the upgrading of the complete management team here from finance to administration to operations. And so we feel very comfortable going into next year about that we're going to meet our CapEx, we will meet our expenditures, and we will have plenty of liquidity to grow this Company.
Alan Laws - Merrill Lynch
Okay. So $39 million for the Achiever, maintenance and then you had one more shipyard going into '08, so what would total CapEx be next year?
Roger Burks
That is a hard number to guess at this point I mean to estimate at this point. I will tell you our maintenance CapEx runs right around $12 million a year and so you have the 38, plus the 12 and…
Alan Laws - Merrill Lynch
And the 30-day shipyard?
Jim Mermis
The shipyard in '08 is for a chartered vessel. So, we really do not have any shipyard work coming up here next year at all.
Alan Laws - Merrill Lynch
Okay. All right. So you are looking at $50 million, $60 million of the CapEx next year off of a $320 million revenue base and any guess at what your EBIT margin is? You are 10% now. That looks like a net consumption of capital going into next year.
Roger Burks
Well, we are not ready to project out our adjusted EBITDA for next year at this point.
Alan Laws - Merrill Lynch
Okay. All right. The last question I had has to do with your 10b51 filing. With all the turmoil you have experienced over the last couple of quarters here and the additional charges that now you have laid out in the fourth quarter, I wonder if you could talk a little bit about the wave of insider selling over the last few weeks at sub-IPO prices?
I know we're getting a lot of calls about this. I think it is probably a good forum for you to maybe talk about this a little.
Jim Mermis
This is Jim Mermis, and as we set up the IPO here, the executive management received restricted stock. That stock vests over a four and a half year period. The first tranche came six months after the IPO, and for me a third of the stock sales represent income taxes that are due. And the rest foe myself is to diversify my personal investment holdings.
I think it is important, though, for everyone to realize that executive management guidelines for me indicate that I need to retain five times my yearly compensation in Company stock value. I currently hold over eight times my yearly earnings in Company stock.
Alan Laws - Merrill Lynch
All right. Thanks for clearing that up, Jim. That is all I have got for questions. Thanks.

<snip>

[Keepthefaith]

------------------------------------------------------------ ---------------------------------------------------------
SUPPORT GROUP II                                             Aquatica *4
         (Group 4)                                           William Bratkowski
                                                             Chris Charpentier
                                                             Scott Coker
                                                             Scott Croft
                                                             Ed Klein
                                                             Pat Laughlin
                                                             Jerry Lowrimore
                                                             Patrice McIntosh
                                                             Lynn Mondo
                                                             Pete Orlando
                                                             Chris Stevens
                                                             Carol Sturdevant
                                                             Carl Thornton
                                                             Beverly Verret
                                                             J. D. Wilson
                                                             Charlie Youngblood


http://sec.edgar-online.com/helix-energy-solutions-group-inc/10-k-annual-report/2001/04/02/Section5.aspx


Legacy Offshore, LLC
Jerry Lowrimore, HESS Director

[billb's daughter]

This is fascinating:

Superior Offshore International Q3 2007 Earnings Call Transcript

November 15, 2007

http://seekingalpha.com/article/54414-superior-offshore-international-q3-2007-earnings-call-transcript?source=bnet&page=1


Here's a clip from the Q & A:

<snip>

Operator
Here next question comes from the line of Alan Laws of Merrill Lynch.
Alan Laws - Merrill Lynch
Hi guys, good morning.
Jim Mermis
Good morning.
Alan Laws - Merrill Lynch
I have got a few questions here for you. I don't know how much you are going to want to answer some of them, but the first one has to do with the international, in your international contracts and what you see or what you have as bids in hand, and when do you expect to announce additional contracts here to establish maybe some backlog to back up you should 320 to 350 revenue forecast for next year?
Jim Mermis
Yes, Alan, we are very actively biding projects in West Africa and the Middle East. We’ve got some $300 million worth of bids out. We expect awards to start happening pretty soon. To tell you we have a project in our hand for Africa and the Middle East, we do not.
But within the next few weeks, we believe that projects will be awarded, and we have been shortlisted and told that we were the frontrunner for some of the significant projects we are bidding.
We’ve also got work in hand in Trinidad, half of the BP project, and as I said previously, we have already picked up other work in Trinidad for two other operators there with an ROV vessel. So we're feeling pretty good about the future coming up internationally.
Alan Laws - Merrill Lynch
Okay. Last quarter you had mentioned a $100 million three-year contract out of the Middle East. Where is that? Is it still out there, or did that go away?
Jim Mermis
No, no, that contract is still out there with the Middle East religious holidays, etc., it has not been awarded yet, but once again, we anticipate that is going to be awarded in the near-term future.
Alan Laws - Merrill Lynch
Okay. The second question, a little harder here, this is the second quarter in a row that you are in violation or default of your debt facility covenants, and now it looks from the text of your comments here today on the call that from the release that you are having trouble securing the financing that you will really require through the next year.
Can you talk a little bit about your liquidity and how you are going to firm that up a little?
Roger Burks
Sure. I will talk to those. Roger Burks. We had a covenant violation related to the capital expenditures and because of the second quarter, and to expand we also had it on EBITDA. We are working with our banks that are currently in place.
The revolver, the revolving credit facility bank, which is Chase, we have adjusted the covenants and the go forward for our liquidity on a working capital basis. As far as the term loan, we currently have one bank that is in there.
They offered us certain options, and we decided to go forward with another choice. That choice we thought we were very close to signing the commitment letter, and accordingly we are very comfortable with our liquidity position going into next year.
As you can see the first nine months of this year, we had $117 million of capital expenditure. We have two payments right around the end of the year for the Achiever, totaling right around $16 million, and then we are effectively in very solid shape going into the next year for our capital expenditure plans.
Alan Laws - Merrill Lynch
Okay. But for CapEx last quarter you said $26 million for the balance. You spend $29 million in the third quarter. What is the CapEx balance for fourth quarter?
Roger Burks
$17 million.
Alan Laws - Merrill Lynch
$17 million? And then for next year, we have something like 50 to 60 for the completion of the Achiever. Is that not right?
Roger Burks
I believe that number is $38.6 million or $39 million, $38 million for the rest of the Achiever. The Achiever is being met. We have, as you noticed, in the management release, Tom Armstrong joined our Company. He is the Vice President of special projects, and his first special project is to focus on the Achiever.
We have other items that we are focusing on, but a few of the moves that have been made is the upgrading of the complete management team here from finance to administration to operations. And so we feel very comfortable going into next year about that we're going to meet our CapEx, we will meet our expenditures, and we will have plenty of liquidity to grow this Company.
Alan Laws - Merrill Lynch
Okay. So $39 million for the Achiever, maintenance and then you had one more shipyard going into '08, so what would total CapEx be next year?
Roger Burks
That is a hard number to guess at this point I mean to estimate at this point. I will tell you our maintenance CapEx runs right around $12 million a year and so you have the 38, plus the 12 and…
Alan Laws - Merrill Lynch
And the 30-day shipyard?
Jim Mermis
The shipyard in '08 is for a chartered vessel. So, we really do not have any shipyard work coming up here next year at all.
Alan Laws - Merrill Lynch
Okay. All right. So you are looking at $50 million, $60 million of the CapEx next year off of a $320 million revenue base and any guess at what your EBIT margin is? You are 10% now. That looks like a net consumption of capital going into next year.
Roger Burks
Well, we are not ready to project out our adjusted EBITDA for next year at this point.
Alan Laws - Merrill Lynch
Okay. All right. The last question I had has to do with your 10b51 filing. With all the turmoil you have experienced over the last couple of quarters here and the additional charges that now you have laid out in the fourth quarter, I wonder if you could talk a little bit about the wave of insider selling over the last few weeks at sub-IPO prices?
I know we're getting a lot of calls about this. I think it is probably a good forum for you to maybe talk about this a little.
Jim Mermis
This is Jim Mermis, and as we set up the IPO here, the executive management received restricted stock. That stock vests over a four and a half year period. The first tranche came six months after the IPO, and for me a third of the stock sales represent income taxes that are due. And the rest foe myself is to diversify my personal investment holdings.
I think it is important, though, for everyone to realize that executive management guidelines for me indicate that I need to retain five times my yearly compensation in Company stock value. I currently hold over eight times my yearly earnings in Company stock.
Alan Laws - Merrill Lynch
All right. Thanks for clearing that up, Jim. That is all I have got for questions. Thanks.

<snip>

These boys are in deep kimchi.....

[Keepthefaith]

AS i'm not a financial guy LifeSong.What are they saying.From reading it it sounds like they're Bullshi--ing??TIA

[Keepthefaith]

You read about Superior and Legacy BillB???

[billb's daughter]

You read about Superior and Legacy BillB???

Deeper Kimchi...
Now let's see if our Justice dept/state Dept. have the cojones to apply leverage wrt to the persistence "search" to achieve Justice for Natalee, an American citizen, wrong by the "powers that be" in aruba and the NL.....

[billb's daughter]

You read about Superior and Legacy BillB???

Deeper Kimchi...
Now let's see if our Justice dept/state Dept. have the cojones to apply leverage wrt to the persistence "search" to achieve Justice for Natalee, an American citizen, wronged by the "powers that be" in aruba and the NL.....

[billb's daughter]

You read about Superior and Legacy BillB???

Deeper Kimchi...
Now let's see if our Justice dept/state Dept. have the cojones to apply leverage wrt to the persistence "search" to achieve Justice for Natalee, an American citizen, wronged by the "powers that be" in aruba and the NL.....

Not to diminish the lawsuit brought on by the stockholders.....they lost money....
Natalee's family may have lost their only real change to recover her remains...

 

[Keepthefaith]

You read about Superior and Legacy BillB???

Deeper Kimchi...
Now let's see if our Justice dept/state Dept. have the cojones to apply leverage wrt to the persistence "search" to achieve Justice for Natalee, an American citizen, wronged by the "powers that be" in aruba and the NL.....

Schaefer taking off with around 60 to 100 million dollars leaving the shareholders in the toilet all the while living like a king.From what i've read they should all be in Jail before long.UNLESS.We can find the ol' donation trail???