Go Back  PPRuNe Forums > Aircrew Forums > Rotorheads
Reload this Page >

BRS stock crashing

Rotorheads A haven for helicopter professionals to discuss the things that affect them

BRS stock crashing

Old 14th Feb 2019, 21:58
  #81 (permalink)  
 
Join Date: May 2002
Location: Wanaka, NZ
Posts: 2,569
Likes: 0
Received 2 Likes on 2 Posts
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.
gulliBell is offline  
Old 14th Feb 2019, 22:06
  #82 (permalink)  
 
Join Date: Sep 2006
Location: Inside the Industry
Posts: 876
Received 0 Likes on 0 Posts
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.
industry insider is offline  
Old 14th Feb 2019, 22:17
  #83 (permalink)  
 
Join Date: May 2002
Location: Downeast
Age: 75
Posts: 18,267
Received 467 Likes on 191 Posts
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.
SASless is offline  
Old 18th Feb 2019, 13:31
  #84 (permalink)  
nbl
 
Join Date: Aug 2007
Location: uk
Posts: 70
Likes: 0
Received 0 Likes on 0 Posts
I count 14 lawsuits filed against Bristow in 'Class Action' in the US this last week.

Last edited by nbl; 18th Feb 2019 at 13:34. Reason: add
nbl is offline  
Old 18th Feb 2019, 16:44
  #85 (permalink)  
 
Join Date: May 2002
Location: Downeast
Age: 75
Posts: 18,267
Received 467 Likes on 191 Posts
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!
SASless is offline  
Old 18th Feb 2019, 17:32
  #86 (permalink)  
 
Join Date: Oct 1999
Location: Den Haag
Age: 57
Posts: 6,218
Received 317 Likes on 176 Posts
Crucifying BHL with legal fees and payouts is hardly going to help them survive
212man is online now  
Old 18th Feb 2019, 17:44
  #87 (permalink)  
 
Join Date: Dec 2000
Location: uk
Posts: 280
Received 8 Likes on 7 Posts
Originally Posted by 212man
Crucifying BHL with legal fees and payouts is hardly going to help them survive
True but don't think those lawyers care
finalchecksplease is online now  
Old 18th Feb 2019, 22:45
  #88 (permalink)  
 
Join Date: May 2002
Location: Downeast
Age: 75
Posts: 18,267
Received 467 Likes on 191 Posts
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.
SASless is offline  
Old 19th Feb 2019, 09:07
  #89 (permalink)  
 
Join Date: Oct 1999
Location: Den Haag
Age: 57
Posts: 6,218
Received 317 Likes on 176 Posts
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.
212man is online now  
Old 19th Feb 2019, 10:39
  #90 (permalink)  
 
Join Date: Feb 2004
Location: Lost and Legless somewhere in LaLaLand
Age: 77
Posts: 481
Likes: 0
Received 0 Likes on 0 Posts
I guess the CEO and CFO are going to find out the true meaning of accountable manager now?
Phone Wind is offline  
Old 19th Feb 2019, 12:26
  #91 (permalink)  
 
Join Date: Jun 2005
Location: nowhere special
Posts: 466
Received 4 Likes on 3 Posts
They just missed their self imposed date to report their financials correctly. Ouch.
nowherespecial is online now  
Old 19th Feb 2019, 12:38
  #92 (permalink)  
nbl
 
Join Date: Aug 2007
Location: uk
Posts: 70
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by nowherespecial
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.
nbl is offline  
Old 19th Feb 2019, 12:57
  #93 (permalink)  
nbl
 
Join Date: Aug 2007
Location: uk
Posts: 70
Likes: 0
Received 0 Likes on 0 Posts
Smile

Originally Posted by nowherespecial
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.
nbl is offline  
Old 19th Feb 2019, 12:59
  #94 (permalink)  
 
Join Date: Jun 2005
Location: nowhere special
Posts: 466
Received 4 Likes on 3 Posts
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.
nowherespecial is online now  
Old 19th Feb 2019, 13:06
  #95 (permalink)  
 
Join Date: Oct 2002
Location: All over the place
Posts: 231
Likes: 0
Received 0 Likes on 0 Posts
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
rotor-rooter is offline  
Old 19th Feb 2019, 13:07
  #96 (permalink)  
 
Join Date: Jun 2005
Location: nowhere special
Posts: 466
Received 4 Likes on 3 Posts
Bristow Investors ? RSS Content ? BRS ? bristowgroup.com

Some of this is a little, er, alarming. Read the whole thing.
nowherespecial is online now  
Old 19th Feb 2019, 13:18
  #97 (permalink)  
 
Join Date: Sep 2006
Location: Inside the Industry
Posts: 876
Received 0 Likes on 0 Posts
It’s all much more complex when everything is sold, mortgaged and leased back to produce cash to burn in operating losses.
industry insider is offline  
Old 19th Feb 2019, 17:56
  #98 (permalink)  
 
Join Date: Jan 2012
Location: UK
Posts: 1,116
Received 9 Likes on 8 Posts
How much do you think the EC225 adventure hurt the company?
Pittsextra is offline  
Old 19th Feb 2019, 18:07
  #99 (permalink)  
 
Join Date: Dec 2007
Location: UK
Posts: 509
Received 17 Likes on 11 Posts
Originally Posted by Pittsextra
How much do you think the EC225 adventure hurt the company?
thought they had a nice settlement from Airbus?
helicrazi is offline  
Old 19th Feb 2019, 18:10
  #100 (permalink)  
 
Join Date: Dec 2014
Location: Out West
Posts: 372
Likes: 0
Received 1 Like on 1 Post
"EC225 adventure" was hardly an adventure. Bristow were not the only operator who thought that the 225 was the future. It was an operators dream and were it not for the screw-up Airbus made of the whole thing it might still be. By the way the BRS crashing stock just crashed upwards by 20%.
Same again is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.