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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (52759)	10/25/1999 10:06:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

What's this? GLM ain't gonna pay its tab? That's not good. Global Marine rejected claims it owes Harland & Wolff shipyard millions of dollars in relation to extra work undertaken during construction its two newbuild deepwater drillships, GLOMAR C R LUIGS and GLOMAR JACK RYAN. Bob Rose, chairman and CEO of Global Marine said, “Payments for these changes have been made by the company when they were due. . . It is Harland & Wolff's responsibility to deliver the two drillships to Global Marine at the price we both agreed upon.” In the past, Global Marine earned the reputation of being a scum company (bancruptcy does that some times), no one wanted to buy their never ending issue of penny stock. But lately, a few dopes figured Uncle Rose would make things different this time (maybe they had less time in The Market than me). OK, here's Teddy's guess: I don't know what GLM is at today, but it will be 50% less at some time in the next 6 months.