Excel Maritime Carriers Ltd.(fka EXMCQ)

[Ecomike]

I am amazed at bloggers that throw stuff like that up, and act like they know what they are talking about, and then claim EXM has lost money the last 12 months (and reference their useless source, LOL). Well if you include the last quarter of last year, when they wrote down the fleet asset value based on BDI charter rates that were dying on the floor in cardiac arrest in december 2008, then yes they lost money, but they have had 3 excellent stable profitable quarters since then. Unfortunatly, for stock holders they diluted the hell out of existing stock holders this year, while raising cash to cover their excessive debt this year, which has hurt earnings per share by 300%.