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Ambassadors International Continues to Sink

 
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Old 11-07-2007, 01:32 PM
 
Join Date: Apr 2006
Posts: 1,058
Default Ambassadors International Continues to Sink

As I type this Ambassadors International stock has sunk to $14.53 per share. Last year at Christmas time the stock was cruising along at nearly $50.00 per share. My how the mighty has fallen! Their major drain is MAL's riverboats, and now I think it should be pretty clear why Giersdorf is leaving. The occupancy levels for the riverboats is reported to have been 83.8% during the past quarter (a time when Majestic America Line was forced to heavily discount cruise fares) Over all earnings for the third quarter were listed as being $0.03 per share compared to $0.66 for the third quarter last year.
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