In an exclusive story, Cruise Law News has learned that cruise industry giant Carnival Corporation plans to incorporate its business in the United States (in Florida). Carnival intends to announce this historic development tomorrow, April 2nd, at Carnival’s headquarters in Miami.
Since 1972, Carnival has incorporated its business and registered its cruise ships in the
This past month, I have spent a lot of time back home in Arkansas tending to some family matters. Being in a down-to-earth location like El Dorado, Arkansas makes it exceedingly clear just how greedy the Miami-based cruise lines truly are.
My home town of El Dorado has a Fortune 200 company called Murphy Oil
According to WRLN in Miami, FEMA grossly overpaid Carnival Cruise Line to charter the Carnival Fascination to provide housing for FEMA workers following Hurricane Maria.
According to documents obtained through the Freedom of Information Act (FOIA) by Daniel Rivero, WLRN states that FEMA agreed to pay Carnival $74,700,000 to provide accommodations aboard the Carnival Fascination
Last year, following a series of hurricanes which struck the Caribbean, FEMA decided to charter the Carnival Fascination to house relief workers in St. Croix. The news was widely reported last October. Carnival cancelled its sailings of the Fascination from October 2017 through January 2018 with the cruise line planning to return the cruise ship
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Carnival Corporation announced its second quarter profits today.
Its revenues to date for 2015 (June 30th) were $7,180,000,000 (billion), consisting of passenger fares (tickets) of $5,425,000,000 and onboard purchases (booze, spa, specialty meals, casino) of $1,755,000,000. It’s net income was $271,000,000.
And Carnival paid taxes of? Nothing.
You have heard me say this before. By
KHOU 11 reports that alcohol and cigarettes purchased by cruise passengers, represented by cruise lines as "duty-free products," are being taxed by the Texas Alcoholic Beverage Commission (TABC) once the ships return to Galveston.
The state of Texas will start collecting similar taxes from cruise passengers at the Port of Houston by in October.
The
Multiple sources are reporting that Royal Caribbean entered into an agreement to sell the Celebrity Century cruise ship to a Chinese cruise company.
The company buying the Century is identified as Exquisite Marine Ltd., a holding company controlled by Ctrip International Ltd.
Royal Caribbean says that the Century will "complete its scheduled sailings through the
Reuters reports that Royal Caribbean’s CEO Richard Fain recently sold 94,850 shares at average price of $62.38 for a total value of $5,916,743.00; and exercised options for 51,143 shares at $7.27 per share for a total value of $3,190,300.00.
CEO Fain holds over a million shares of his cruise line’s stock. Reuters says he holds
Media reports say that Royal Caribbean Cruises Chief Operating Officer (COO) Adam Goldstein sold 42,152 shares of his cruise company’s stock yesterday.
The shares were sold at an average price of $61.68 for $2,599,935.36.
COO Goldstein still owns 370,724 shares of Royal Caribbean stock, valued at $22,866,256.
Royal Caribbean announced its earnings results on Thursday.
In an exclusive story, Cruise Line News has learned that cruise industry giant Carnival Corporation recently incorporated its business in the United States (in the state of Delaware). Carnival intends to announce this historic development tomorrow, April 2nd, at Carnival’s headquarters in Miami.
Since 1972, Carnival has incorporated its business and registered its cruise ships
Travel Weekly and Skift recently reported that the new CEO of Carnival Corporation, Arnold Donald, will receive the following in compensation:
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$1 million base salary to start, with reviews by the board of directors to increase or decrease his salary;
A fixed bonus of $1.125 million for 2013;
A one-time award of performance-based restricted stock
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News sources report that Royal Caribbean President Adam Goldstein sold 7,855 shares of RCL stock on the open market in a transaction yesterday.
Goldstein’s sold the stock at an average price of $43.22, for a total value of $339,493.10.
He reportedly now directly owns 335,654 shares of Royal Caribbean stock, valued at approximately $14,506,966.
Yesterday
As promised, Senator Jay Rockefeller announced that he has introduced legislation seeking to eliminate the Section 883 exemption for cruise industry income derived from cruises that embark or disembark passengers in the U.S. Senator Rockefeller stated in a press release:
“The cruise industry can’t operate for free here in the U.S. It costs money to
Yesterday, I wrote a short article about Royal Caribbean President Adam Goldstein selling 2,181 shares of RCL cruise stock earlier this week at an average price of $36.80, for a total value of $80,260.80. Cruise executives buying and selling their company’s own stock is interesting to me as an indicator into their true thoughts about
The Daily Political reports that Royal Caribbean President Adam Goldstein (left) unloaded 2,181 shares of RCL cruise stock yesterday at an average price of $36.80, for a total value of $80,260.80.
Goldstein still owns 335,654 shares of the company’s stock worth over $12,350,000.
A number of research firms have recently commented on RCL’s stock value. One
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Cruise lines hate U.S. governmental scrutiny of their business operations.
The whole purpose of incorporating their businesses and flagging their cruise ships in foreign countries is to avoid U.S. taxes and the scrutiny of federal regulators. This business model permits the cruise lines to pay virtually no U.S. taxes and to avoid U.S. wage, labor
Under public criticism and pressure initiated by U.S. Senator Rockefeller, Carnival announced today that it will reimburse the federal government for costs of over $4,000,000 incurred by the U.S. Coast Guard and U.S. Navy in responding to its Triumph and Splendor cruise ships.
Senator Rockefeller set his sights on the cruise industry at a Senate
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Today I read a press release by the U.S. Coast Guard about a maritime safety exercise conducted in the waters of Freeport Grand Bahamas.
U.S. Coast Guard crew members from the Coast Guard Cutter Diamondback conducted a safety exercise with Royal Caribbean’s Monarch of the Seas on April 2, 2013. The exercise was called "Black
