Page 1 of 2 12 LastLast
Results 1 to 12 of 24

Thread: Interesting Harvey Gulf article

  1. #1
    Doodlebug's Avatar
    Doodlebug is offline gCaptain Crew
    Join Date
    Oct 2011
    Location
    GOM,
    Posts
    113
    Thanks
    77
    Thanked 44 Times in 23 Posts

    Default Interesting Harvey Gulf article

    Share on Facebook

  2. #2
    Fraqrat's Avatar
    Fraqrat is online now Top Contributer
    Join Date
    Mar 2011
    Location
    Alabama
    Posts
    1,312
    Thanks
    1,176
    Thanked 1,106 Times in 494 Posts

    Default

    Well yeah they did! You make it sound like there is nothing but rumors spread around here...
    Share on Facebook

  3. The Following User Says Thank You to Fraqrat For This Useful Post:

    Swampfox (June 5th, 2013)

  4. #3
    tengineer is offline Top Contributer
    Join Date
    Feb 2008
    Location
    Florida, Texas, Caribbean and Singapore
    Posts
    840
    Thanks
    55
    Thanked 331 Times in 184 Posts

    Default Re: Interesting Harvey Gulf article

    Quote Originally Posted by Fraqrat View Post
    Well yeah they did! You make it sound like there is nothing but rumors spread around here...
    B1, isn't that just above junk bond rating, barely.
    Share on Facebook

  5. #4
    ChiefRob's Avatar
    ChiefRob is offline Top Contributer
    Join Date
    May 2012
    Location
    Mobile AL
    Posts
    637
    Thanks
    350
    Thanked 474 Times in 214 Posts

    Default Re: Interesting Harvey Gulf article

    Quote Originally Posted by tengineer View Post
    B1, isn't that just above junk bond rating, barely.

    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    Moody's assigns bond credit ratings of Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with WR and NR as withdrawn and not rated.[2] Standard & Poor's and Fitch assign bond credit ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, D.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
    Share on Facebook

  6. The Following User Says Thank You to ChiefRob For This Useful Post:

    RubberRhib888 (June 5th, 2013)

  7. #5
    Saltine is offline gCaptain Crew
    Join Date
    Mar 2010
    Posts
    174
    Thanks
    6
    Thanked 91 Times in 45 Posts

    Default Re: Interesting Harvey Gulf article

    Quote Originally Posted by Doodlebug View Post

    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.
    Share on Facebook

  8. The Following 2 Users Say Thank You to Saltine For This Useful Post:

    c.captain (June 8th, 2013), captaint76 (June 8th, 2013)

  9. #6
    alec is offline Just Browsing
    Join Date
    Jun 2013
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Interesting Harvey Gulf article

    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
    Share on Facebook

  10. #7
    CaptB's Avatar
    CaptB is offline gCaptain Crew
    Join Date
    Dec 2011
    Location
    Offshore
    Posts
    110
    Thanks
    7
    Thanked 30 Times in 19 Posts

    Default

    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.
    Share on Facebook

  11. The Following 2 Users Say Thank You to CaptB For This Useful Post:

    PR-9 (June 8th, 2013), rigdvr (June 8th, 2013)

  12. #8
    captaint76's Avatar
    captaint76 is online now gCaptain Crew
    Join Date
    Dec 2011
    Location
    East Coast
    Posts
    180
    Thanks
    199
    Thanked 86 Times in 56 Posts

    Default

    Quote Originally Posted by Saltine

    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.
    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?
    Share on Facebook

  13. #9
    rigdvr's Avatar
    rigdvr is online now Top Contributer
    Join Date
    Mar 2010
    Location
    Gautier MS
    Age
    37
    Posts
    605
    Thanks
    121
    Thanked 335 Times in 158 Posts

    Default

    Quote Originally Posted by CaptB
    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.
    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.....
    Share on Facebook

  14. #10
    BMCSRetired's Avatar
    BMCSRetired is online now Top Contributer
    Join Date
    May 2010
    Location
    Panama City Beach, FL
    Posts
    599
    Thanks
    111
    Thanked 311 Times in 158 Posts

    Default Re: Interesting Harvey Gulf article

    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.
    Share on Facebook

  15. The Following User Says Thank You to BMCSRetired For This Useful Post:

    Jemplayer (June 9th, 2013)

  16. #11
    ElCapitan's Avatar
    ElCapitan is offline gCaptain Crew
    Join Date
    Apr 2012
    Location
    Mississippi
    Posts
    162
    Thanks
    48
    Thanked 108 Times in 51 Posts

    Default

    Tidewater and Gulfmark gobble a company up. That's funny, but I do understand the point you are making.
    Share on Facebook

  17. #12
    c.captain's Avatar
    c.captain is online now Top Contributer
    Join Date
    Oct 2008
    Location
    anyplace other than Bayoo LaFlush!
    Posts
    6,354
    Thanks
    797
    Thanked 2,345 Times in 1,424 Posts

    Default Re: Interesting Harvey Gulf article

    Quote Originally Posted by BMCSRetired View Post
    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.
    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!


    .
    Last edited by c.captain; June 9th, 2013 at 04:41 PM.
    Brody: You're certifiable, Quint! You know that?
    Quint: Yeah, yeah, yeah...
    Share on Facebook

  18. The Following 5 Users Say Thank You to c.captain For This Useful Post:

    boatengineer (June 14th, 2013), capitanahn (June 17th, 2013), ElCapitan (June 9th, 2013), Flyer69 (June 9th, 2013), Fraqrat (June 9th, 2013)

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •