Aloha PBK - I have no idea at this point where GE is steering the ship. Clearly all of the shipping assets are gone or up for sale. I don't know what that means for a dry bulk company. He hasn't come out in support of DRYS or provided any clarity about his plan. On its face, the plan seems to be liquidation. Does that mean holding non-shipping assets until the market improves or is he going to cash out and shut DRYS down? It would seem he has a fiduciary responsibility to let everyone know where this is headed, but alas, it is GE we are discussing.
Assuming he has shareholders' best interest at heart, and that may be a leap, DRYS could end the year with a large sum of cash and ORIG shares both totaling something on the order of $300 million. If the shenanigans continue though, it might prove to be an entirely different story.
IR isn't terribly well informed, but I plan to put another call in this afternoon to see if something new can be discovered. I will post later today whatever I learn.
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