So they did takeover GOL.
Well yeah they did! You make it sound like there is nothing but rumors spread around here…
[QUOTE=Fraqrat;111660]Well yeah they did! You make it sound like there is nothing but rumors spread around here…[/QUOTE]
B1, isn’t that just above junk bond rating, barely.
[QUOTE=tengineer;111678]B1, isn’t that just above junk bond rating, barely.[/QUOTE]
from wikipedia
Credit rating tiers [edit]
Moody’s assigns bond credit ratings of Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with WR and NR as withdrawn and not rated.[2] Standard & Poor’s and Fitch assign bond credit ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, D.
As of April 2011, there were 4 companies rated AAA by S&P:[3]
Moody’s
Standard & Poor’s
Fitch
Credit worthiness [4][5]
Aaa
AAA
AAA
An obligor has EXTREMELY STRONG capacity to meet its financial commitments.
Aa1
AA+
AA+
An obligor has VERY STRONG capacity to meet its financial commitments. It differs from the highest rated obligors only in small degree.
Aa2
AA
AA
Aa3
AA-
AA-
A1
A+
A+
An obligor has STRONG capacity to meet its financial commitments but is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligors in higher-rated categories.
A2
A
A
A3
A-
A-
Baa1
BBB+
BBB+
An obligor has ADEQUATE capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments.
Baa2
BBB
BBB
Baa3
BBB-
BBB-
Ba1
BB+
BB+
An obligor is LESS VULNERABLE in the near term than other lower-rated obligors. However, it faces major ongoing uncertainties and exposure to adverse business, financial, or economic conditions which could lead to the obligor’s inadequate capacity to meet its financial commitments.
Ba2
BB
BB
Ba3
BB-
BB-
B1
B+
B+
An obligor is MORE VULNERABLE than the obligors rated ‘BB’, but the obligor currently has the capacity to meet its financial commitments. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments.
B2
B
B
B3
B-
B-
Caa
CCC
CCC
An obligor is CURRENTLY VULNERABLE, and is dependent upon favourable business, financial, and economic conditions to meet its financial commitments.
Ca
CC
CC
An obligor is CURRENTLY HIGHLY-VULNERABLE.
C
C
The obligor is CURRENTLY HIGHLY-VULNERABLE to nonpayment. May be used where a bankruptcy petition has been filed.
C
D
D
An obligor has failed to pay one or more of its financial obligations (rated or unrated) when it became due.
e, p
pr
Expected
Preliminary ratings may be assigned to obligations pending receipt of final documentation and legal opinions. The final rating may differ from the preliminary rating.
WR
Rating withdrawn for reasons including: debt maturity, calls, puts, conversions, etc., or business reasons (e.g. change in the size of a debt issue), or the issuer defaults. [2]
unsolicited
unsolicited
This rating was initiated by the ratings agency and not requested by the issuer.
SD
RD
This rating is assigned when the agency believes that the obligor has selectively defaulted on a specific issue or class of obligations but it will continue to meet its payment obligations on other issues or classes of obligations in a timely manner.
NR
NR
NR
No rating has been requested, or there is insufficient information
[QUOTE=Doodlebug;111657]http://www.workboat.com/Online-Features/2013/Harvey-Gulf-receives-first-public-rating-from-Moody’s-for-new-$1-billion-credit-facility/
So they did takeover GOL.[/QUOTE]
Does anyone see the common theme when Shane Guidry puts out a statement? He sure likes to use the word “ME” when describing anything taking place at Harvey Gulf.
How depressing it must be to work for an arrogant prick such as Shane. I just can’t see how they will be able to grow and manage the acquisitions and new builds coming over the next few years. They weren’t good at managing when they had a small fleet of OSV’s and it hasn’t seemed to get any better. My opinion is they won’t keep the promises to all of the new hires they are bringing in and the management staff will have a big turnover within the next 2 years or so. Too much action going on for this size company coupled with the already dysfunctional management will equal major problems.
Guys,
I am employed by GOL in the office (until the sale) and have always been a lurker on gCaptain. I thought I would clarify that the sale is not “official” here yet or I would be out on the street. We are still operating the boats involved and I assume a formal press release will be given once it does transpire.
Thanks
Well our applications and benefits packages have been filled out along with our new prison uniform order forms. Waiting on blue paint any day now.
GOLs been good to me but this has taught me a lesson. I won’t be so quick to pass up opportunities in the future due to a sense of loyalty.
Definitely self centered. You can certainly tell that he alone achieves all of the companies success without the help of anyone else that works there. Just slightly egotistic ya think?
That sucks Capt B. I wouldn’t worry too much though, with ALL the companies building at a painful rate, opportunity will be everywhere. The days of company jumping for $ will return when some of our short term memory colleagues forget the slow down ever happened…
Early employees with Bill Gates and Steve Jobs felt the same about their I, I, I and me. me, me bosses. However, it is that personality, attitude and drive that made those companies what they are today. A $1,000 investment in Apple in 1988 was worth (approx) $3,000,000 in 2000. Microsoft and Apple were not A+ when they started either. The computer industry road is lettered with failed and bought out companies. With the US projected to be an oil exporter/self-sufficient by 2034, I believe he is making the right moves. He is taking a risk, but that is business. If he did not, he would be gobbled by SEACOR, TIDEWATER, GULFMARK on the next iteration.
As long as the paycheck cashes and there are opportunities I am going to ride it. Blue chips and sure bets are for retirement and the status quo.
Tidewater and Gulfmark gobble a company up. That’s funny, but I do understand the point you are making.
[QUOTE=BMCSRetired;112035]Early employees with Bill Gates and Steve Jobs felt the same about their I, I, I and me. me, me bosses. However, it is that personality, attitude and drive that made those companies what they are today. A $1,000 investment in Apple in 1988 was worth (approx) $3,000,000 in 2000. Microsoft and Apple were not A+ when they started either. The computer industry road is lettered with failed and bought out companies. With the US projected to be an oil exporter/self-sufficient by 2034, I believe he is making the right moves. He is taking a risk, but that is business. If he did not, he would be gobbled by SEACOR, TIDEWATER, GULFMARK on the next iteration.[/QUOTE]
I can only say that once I felt it was OCLLC which took the prize for being the most regressive of the major offshore players in the GoM but lately I have some to realize that distinction rests rightfully with Shane Guidry. Everything we ever read here from employees and ex employees smacks of a company which is stuck in the 1980’s mindset in the Gulf where the mariners are just serf labor available for just about any nuggets of stale old corn Joe Boss will toss out to them. These days are over and if HGIM is to thrive, it will need a workforce to run this new high technology fleet but nothing I see tells me they are preparing in any way to acquire and build that group of skilled mariners. Maybe they just think Bubba Sixpack will be good enough and will be more than happy to snatch up those moldy kernels. I believe that Harvey Gulf will find they are wrong and that HOS and ECO will be the companies of choice when good quality skilled and experienced offshore mariners are choosing where to invest their career years. Hell, they already are!
.
Did Shane personally piss in your cereal one morning? You come off as someone with a personal grudge against the guy as everyone I’ve ever run across that works for HGIM likes it there.
[QUOTE=Jemplayer;112070]Did Shane personally piss in your cereal one morning? You come off as someone with a personal grudge against the guy as everyone I’ve ever run across that works for HGIM likes it there.[/QUOTE]
I already have three thanks for my post above so I believe I need say nothing more than that to you SIR!
I’m not some newbie who is going to be backed down just because you have a shit ton of post and get 3 thanks for a particular post. It just makes you come off as more of an ass the you normally do.
I asked a simple question and would appreciate a direct response. If you’re going to talk shit about a company you should at least justify it with a back story as to why you hate the company. I have read 90% of what has been posted on this forum and have never seen you post what happened to make you hate HGIM so much.
As for HOS and ECO being choice companies to work for I have experience with both, and can can make both of them look like the worst companies to work for. Just like you who runs down every company that has a boat that floats regardless if you have worked for them or not, and while I do let it be know when I have a problem with a company for what ever reason I provide it in context so that others take what they will form it.
You just throw spears with no background and expect all of us to nod our head and agree with you.
[QUOTE=Jemplayer;112134]You just throw spears with no background and expect all of us to nod our head and agree with you.[/QUOTE]
I don’t give a rat’s ass whether you agree with me or not SIR! I have worked alongside several ex HGIM people and all tell me the same story of it being the equivalent of a Noble Drilling of the OMSA companies by which they are a company good experienced people leave not join. Further, I personally take the public statements of Shane Guidry as being very accurate to show a man who is arrogant and very unfriendly to his people. Of a bad lot, he stands out as one of the worse and I need say no more. Convincing you of that is not a very high priority for me right now. Lastly, I well know I do not stand alone here in this forum with my opinions on HGIM so I think you are yourself the one all by himself on that little desert island out in the middle of nowhere.
If you love Shane Guidry so much just start writing all sorts of stories now to prove what a stand up swell guy he is…
…but I don’t think you’d be able to come up with any…
Never said I loved the guy, and never said I had anything nice to say about him, but all you do is bitch about every OSV company there is so it’s gets hard to separate the the truth from the opinion.
Now that we know what you base your opinion on we know how to weigh the things you say about the man and the company.
ok then…
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Can’t we all just get along?