MDR is selling at less that 10 earnings, paying a $.20 dividend and is in one of the hottest growth sectors in the patch right now with all the deep water construction activity about to happen. There may not be enough supply to meet demand for work in the Gulf of Mexico in the second half of this year for offshore construction in the Gulf of Mexico.
GLBL has gone from $6.00 to $15.00 in the last year, and MDR has gone from $32.50 to $7.25. Interesting post from John T Clark. JRM sure does appear to be in the sweet spot for deep water production.
Message 13454339
Interesting sites for an asbestos update:
asbesres.org
lawnewsnetwork.com
Comments from YAHOO:
As for B&W BK there will not be any more meaningful news until it plays itself out in court or the US government passes a new law to handle asbestos issues, which ever comes first. It's B&W advantage to keep this law suit in court as long as possible, that way there is no bleeding of corporate money, Congress, getting pressure to solve this problem, which might happen within the next 2 years or sooner.
On Feb 22, 2000 McDermott, file a complain seeking a Temporary Restraining Order, for the non debtor companies of McDermott International, keeping B&W BK lawsuits within B&W. On 03/01/2000, a order was issued favor of McDermott,
a TRO was granted, that order was opposed by the asbestos Claimants, a hearing was reschedule to 04/17/2000, after the hearing Judge Jerry Brown granted the order in favor to McDermott. I have the understanding that this issue can be address again sometime in July 2000, if the lawyers peruse it.
At the current price MDR, is a potential 6X your money in a margined account once the asbestos issues are cleared up.
Jim |
