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BRS stock crashing

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BRS stock crashing

Old 14th Feb 2019, 15:11
  #81 (permalink)  
 
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​​​​​Shares up sharply this morning already, all back to normal (!) so looks like Jonathan has earned that big fat termination after all.

Ahh
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Old 14th Feb 2019, 15:15
  #82 (permalink)  
 
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Big volume early is people covering short positions. The volume is now lower again and the gains are slipping back. Similar pattern to the last few days.
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Old 14th Feb 2019, 16:30
  #83 (permalink)  
 
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and 212man - Shell with CHC 2016....
but that was as, as you know, because the drilling campaign they were supporting was cancelled, not to re-defender fo another operator.
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Old 14th Feb 2019, 16:35
  #84 (permalink)  
 
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Originally Posted by industry insider View Post


It doesn’t a work as simply as that. Negotiations during a tender phase can be tough. But once the contract is signed it’s actually strong for both parties and normally prevails. The rules around asking for a discount are very complex. To threaten termination to get a discount would be unheard of in any company with which I have had an association.

I have seen price escalations in the downturn because they were in the contract, I have seen contractors, not just aviation, hold the line on prices when under a contract with no threats or bullying. Do a good job as per contract and most importantly know the customer and what they want.
When I was there in the first decade of this century, exactly that happened in a downturn. Major oilco said "we're tearing up the contract, what are you going to do about it - sue us ?"
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Old 14th Feb 2019, 17:13
  #85 (permalink)  
 
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16% jump.....astounding rebound....all the way up to $1.39.


https://www.thestreet.com/quote/BRS.html
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Old 14th Feb 2019, 22:58
  #86 (permalink)  
 
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Perhaps those who bought @ $18.91 in the past year are just lowering their total holding average purchase price before the whole show jumps off the precipice.
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Old 14th Feb 2019, 23:06
  #87 (permalink)  
 
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When I was there in the first decade of this century, exactly that happened in a downturn. Major oilco said "we're tearing up the contract, what are you going to do about it - sue us ?"
All I can say is that it’s very unethical to act like that and although I have been in some very uncomfortable meetings on both sides of the business, when in the oil company side, remedies due to any service issues had to be applied strictly contractually. I would have been fired for threatening a contractor.

I have also seen helicopter companies say “no” to something commercially disadvantageous. I accept though that the relationship can appear unequal at times.
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Old 14th Feb 2019, 23:17
  #88 (permalink)  
 
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I said it earlier....when a Stock Price hits these lows and the ups and downs are as dramatic as they are.....a person with some money and some courage can make some money.

A one day 16% gain is nothing to sneeze at!

Timing is of the essence and it is legalized gambling....but you can make some money if you get it right.
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Old 18th Feb 2019, 14:31
  #89 (permalink)  
nbl
 
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I count 14 lawsuits filed against Bristow in 'Class Action' in the US this last week.

Last edited by nbl; 18th Feb 2019 at 14:34. Reason: add
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Old 18th Feb 2019, 17:44
  #90 (permalink)  
 
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Amazing......do a search using these words....."Bristow Helicopters, Class Action Law suits filed".....and look at the Laundry List that shows up!

The CEO got a Two Year Basic Salary Going Away Bonus????

I was at the wrong end the Management Totem Pole for sure!
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Old 18th Feb 2019, 18:32
  #91 (permalink)  
 
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Crucifying BHL with legal fees and payouts is hardly going to help them survive
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Old 18th Feb 2019, 18:44
  #92 (permalink)  
 
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Originally Posted by 212man View Post
Crucifying BHL with legal fees and payouts is hardly going to help them survive
True but don't think those lawyers care
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Old 18th Feb 2019, 23:45
  #93 (permalink)  
 
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It is not about BHL's survival.....it is about going after conduct that harmed Investors.

Some folks have walked off with lots of money and apparently did not do their job properly.....and conducting one's fiduciary duties in less than an legal manner should not be condoned.

If it means Bristow ceases operation then those harmed along with the Investors know who to blame.
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Old 19th Feb 2019, 10:07
  #94 (permalink)  
 
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Actually, on re-reading some of the suits, it is clearer that it is the individuals - CEO and CFO - and not the company that are being sued.
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Old 19th Feb 2019, 11:39
  #95 (permalink)  
 
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I guess the CEO and CFO are going to find out the true meaning of accountable manager now?
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Old 19th Feb 2019, 13:26
  #96 (permalink)  
 
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They just missed their self imposed date to report their financials correctly. Ouch.
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Old 19th Feb 2019, 13:38
  #97 (permalink)  
nbl
 
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Originally Posted by nowherespecial View Post
They just missed their self imposed date to report their financials correctly. Ouch.
Why do you say that. Can they post at 10 o'clock.? I have no idea how the US works.
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Old 19th Feb 2019, 13:57
  #98 (permalink)  
nbl
 
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Smile

Originally Posted by nowherespecial View Post
They just missed their self imposed date to report their financials correctly. Ouch.
Ah I see - they have given an 8-K today but not a 10-k. I have read the 8-k - can anyone explain it in English.
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Old 19th Feb 2019, 13:59
  #99 (permalink)  
 
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They just tweeted about it. Their last communication was that it would be filed by no later than today. They just issued a statement it will not be filed until they are ready (obviously) but it doesn't look great if you are late reporting a quarter (and 9 months in fact) which ended 7 weeks ago.
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Old 19th Feb 2019, 14:06
  #100 (permalink)  
 
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The determination of the existence of a control deficiency related to these matters, which has been classified as a material weakness in the Company’s
internal controls over financial reporting, and the need to assess possible non-compliance with all non-financial covenants commenced when the
Company’s senior management became aware that certain pledged and leased helicopter engines were not matched to specific pledged or leased
helicopter airframes or returned to such airframes within specified periods, as is required under certain of the secured financing and helicopter lease
agreements. The removal and replacement of engines and components from helicopters is part of the Company’s normal ongoing maintenance
activities; however, since certain of those helicopter engines and airframes are pledged to lenders or leased from lessors, the removal of a pledged or
leased engine from a pledged or leased airframe can create issues of non-compliance with certain of the secured financing and helicopter lease
agreements. All issues related to this matter were cured prior to December
31,2018 for all but nine helicopter engines (relating to three agreements)
where the pledged or leased engines were not returned to the pledged or leased airframes within specified periods due to delays with certain of the
Company’s maintenance service providers.
The Company has obtained waivers of such non-compliance under the applicable agreements related to
such helicopter engines. The issues detected, which have all been cured or waived, involve a small subset of the approximately 385 helicopter engines
that are subject to the Company’s secured financings or helicopter leases.
1
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