|Degration of titanic: effect|
|Posted on Sun 21 Nov 2004 (45951 reads)|
It is well known that microbes are eating the metal components of the wreck at a gradual rate. Both Ballard and the company that has insalvor possesion confirms this.
The stern decks collapsed lightly and it is possible that other parts collapse recently. We don't know how the situation will change if more of the ship is degraded and no new artifacts can be obtained from the wreck.
The Laws of the US have still one very important decission to be made, Will the company in salvor possesion be allowed to sell their inventory? This is contested and objected many times. The courts initially only let them exhibit the artifacts up the point that they decided to change their name and structure, which mainly concerns their exhibition daugther.
It is apparent now that both stock holders, directors and the courts of law all pose a danger to the holding company RMS Titanic inc, especially the Stock holders are holding the management of the company liable for mismanagement and the low stock price, Late October 2004 they finally changed their company structure; We consider it a move fueled primarily by incentives to save on tax.
Infact, the way the company has reorganised under folrida state law did not require stake holder's vote and is mostly an act of management.
This served the company well becuase they didn't need this "votes" from the stakeholders, they could change the company structure, name and transfer the existing management into the new companies effectively showing the stake holder's that, the management sitll had a key in their control about what happens within the company which is not pleasing to hear for stake holders.
It might be possible that with new revenue projections and actually getting it, the stake holders will be more willing to wait and listen, but news will tell how that will develope in a later stadium.
Whatever RMS Titanic Inc does, when more of the wreck degrades and no valueble artifacts are obtainable any more, then it might occur that it will cost the company more money to access the wreck because it is compulsory by law to retain the salvor in possession to access the wreck and assess the state now and then.
That fact is disturbing, while RMS Titanic inc might attain alot of artifacts at the moment, we consider it unthinkable if they give up the salvor in possession at any time, because other companies in the world have a perpetual interest at all times to go down there and salvage it for the sake of value that lays in the artifacts be it a complete hull and so on, Apparently they even do it while RMS Titanic inc has salvor in possession. Altough these are Rogue companies, when they are not catched the goodwill and credibility in the courts of the united states, stemed for RMS Titanic inc will greatly decrease.
Companies in Europe are known to salvage ships like the Kursk undersea nuclear sub, they have special carriers and might be able to retreive bigger hull elements than ever imaginable before.
So the question is now, where is the value of the company? Aseets? Good will? this is quite known until now. And the company is manouvering the best it can.
The situation is still very concerning for the stake holders due to the simple reason that too many forces are at play.
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Posted: 2006/5/10 5:13 Updated: 2006/6/25 9:57
From: British Columbia, Canada
unfortunatley there are a lot of unsrupulous individuals out there in the world who will take advantage of anything or any one in the pusuit of the almighty doller. Even if that means grave robbing!
Leave the titanic site alone you horrible people have you no shame? You should be ashamed of yorselves. The wreck is a memorial to all those that lost their lives so many years ago. Lets leave it at that and let nature take her course, like all good things everything comes to an end.