Titanic

Titanic Salvage Sale Appears Either Dead Or Looking For New Buyer

On 28 May, Premier Exhibitions put out its Full Year and Fourth Quarter 2013 Results. For Sale by Owner SignDeep down in the statement was the following:

Update on Titanic Monetization

As previously communicated, on October 15, 2012, the Company entered into a non-binding letter of intent with an entity representing a group of individuals (the “Consortium”) working to effect a purchase of the stock of RMS Titanic, Inc. Since entering into the LOI, Premier has been negotiating exclusively with this group. The entity with whom the Company is negotiating has been soliciting federal, state, and local government entities, as well as philanthropic contributions, to build support to go public with a broader campaign to secure capital necessary to complete a transaction. They continue to request confidentiality until they feel comfortable that there is sufficient support to go public with the project.

Due to the complexity of the transaction and the many elements that are necessary for consummation, the process has taken longer that Premier had hoped. While the Company continues discussions with this group, Premier also recognizes the uncertainty of their completing a transaction and obtaining funding commitments. The Board is therefore considering the full range of strategic and financial alternatives in this regard, which likely will include retaining an investment bank, and will pursue possible paths in parallel.

The complexity of these assets, and the need to comply with the underlying court orders, require that any transaction or arrangement be more carefully structured and executed than a typical transaction. Timing is certainly a factor, but it is not the only factor. The Board and management, together, remain committed to maximizing shareholder value.

This confirms some speculation about who this consortium might be, a group of investors trying to raise capital both with taxpayer money (that is where government money comes from) and private investors (rich people with lots of money like that guy with the hoodie who heads up a social network). You can guess the problem with raising this capital. Not only is the price astronomical, it comes with a major constraint: it stays under U.S. federal court jurisdiction because you are not allowed to sell off any portion of the collection. That means the court will be over your shoulder all the time wanting reports and details of the collection from what is being stored, how it is being carefully preserved, and when it is on display.

So the upshot of it is this: Premiere is formally notifying that they are looking for other interested parties. This may be the reason, according to Seeking Alpha that Premiere’s stock price has dropped. It dropped from $2.30 to $2.10 ion 28 May and dropped much further since. Premiere might consider appealing the judge’s decision to a higher court. And it is entirely possible down the road one of two things happening: the entire collection being shuttered until resolved or the U.S. government seizing it as a national/international treasure under some obscure international treaty or possibly use a congressional resolution passed years ago as the pretext.

Sources:

1. Failed Titanic Sale Won’t Sink Premier Exhibitions(18 June 2013,Seeking Alpha)

2. Premier Exhibitions Reports Full Year and Fourth Quarter 2013 Results (28 May 2013, Global Newswire-Press Release)


Titanic, Titanic Exhibitions

Titanic Honour & Glory To Display Rare Titanic Artifacts

Grand Staircase RMS Olympic
Photo: Wikipedia

Visitors to Titanic Honour & Glory museum will be seeing rare Titanic artifacts. Scheduled to be added are Titanic china dinner plates, various letters written aboard, a fountain pen that belonged to Captain Smith, and an 18-carat gold watch that belonged to a waiter. Props from Cameron’s Titanic will also be on display.

Titanic Honour & Glory is open 9 a.m.- 4 p.m. Monday through Saturday. Sunday hours are 10 a.m. to 4 p.m. in Southampton, UK.

Source: Rare Titanic Artefacts Back On Show In Southampton(18 June 2013, Daily Echo)

 

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Titanic, Titanic II

Monday Titanic News

Photo courtesy George Behe
Photo courtesy George Behe

1. Titanic II Update: The Australian drops a small zinger saying its development appearsto have slowed. No explanation is given for this statement or what they base it upon. They also note they were recently denied access to tour the CSC Jinling shipyard in Nanjing.

Source: Titanic II May Follow Original(15 June 2013, The Australian)

2. The Mystic Aquarium recently expanded its Titanic exhibit to include a gallery about the International Ice Patrol reports The Day. The unit, based in New London, is a small unit within the U.S. Coast Guard. Commander Lisa Mack believes it provides great visibility for the Coast Guard. “Our hope is that people find it interesting and learn something about our service.” Many people have no idea the Coast Guard tracks icebergs until they learn of it through such exhibits or research the Titanic story.

Source: Ice Patrol Increases Visibility With Inclusion At Aquarium’s Titanic Exhibit(14 June 2013, The Day)

3. From Ireland:Creating large scale models often pose a problem when you need to move them. 17-year-old Lorin Robinson had built a 7 foot long model of the ship but college is 15 miles away. So he called up a friend and using a trolley made from an old go-cart to move it from his room to Weston College in time for summer arts show. The set off after midnight hoping the roads would be quiet. Not so quiet as trucks roared past them and many street lights are no longer operating at that hour. Fortunately they got there and were spotted outside their classroom at 7:30 a.m. The model is now on display from 18-28 June. Hopefully they will have an easier time getting it back home.

Source: Student Drags His Titanic 15 Miles(13 June 2013,Irish Independent)
(Link Not Provided To Republic of Ireland Newspapers Due To Paid Links Demand)

4. A new cruise facility will be built in the Titanic Quarter owing to the increased stopping of cruise ships that have generated £3.9m in visitor spending. £7m is going to be invested to allow passengers to disembark within walking distance of Titanic Belfast, the Pump House, and Nomadic.
Source: £7m Invested In Titanic Cruise Facility(13 June 2013, 4ni.co.uk)

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History

Remembering The Victims of PS General Slocum

PS General Slocum
Illustration by Samuel Ward Stanton of the excursion steamboat General Slocum (Wikipedia)

Though not well known, 109 years ago today the PS General Slocum caught fire and sank in the New York East River. At the time she on a chartered run carrying members of St. Matthews Evangelical Lutheran Church to a church picnic. The Slocum had over 1,400 passengers, many of them women and children.

It is believed the fire started in the Lamp Room, possibly by a discarded cigarette. Fueled by oily straw, rags, and lamp oil, the fire began to spread. By 10:00 a.m. the fire was noticed and Captain Van Schaick was notified of it. Rather then running the ship aground or stop at a landing, he continued on course. This likely fanned the flames and with flammable paint spread the fire out of control.

Worse though was that the safety equipment–fire hoses and life jackets– and been left to rot. The fire hoses came apart, the life jackets were in poor condition and some filled with weights, and the lifeboats were tied up making them inaccessible. Also the crew had never had a fire drill so they did not know what to do. People had to jump into the water. Most could not swim and were weighed down by woolen clothing. Worse the life preservers helped children sink rather than float (some of them simply came apart when touched). By the time the General Slocum sank in shallow water at North Brother Island, an estimated 1,021 had burned to death or drowned. Only 321 survived and five crew members died. Captain Van Schaick survived. There were many stories of heroism both on ship and from people ashore trying to help people by forming human chains to pull them out of the water.

Eight were indicted by a Federal grand jury but only Captain Van Schaick was convicted and served time for criminal negligence (though pardoned by President Taft in 1912). Despite evidence of fraudulent inspection records, the Knickerbocker Steamship Company paid a small fine. The incident led to state and federal regulations improving emergency equipment aboard ships.

General Slocum Memorial Tompkins Square Park, Manhattan, New York City
General Slocum Memorial Tompkins Square Park, Manhattan, New York City

There are two memorials to the victims of the General Slocum. One is at Lutheran All Faiths Cemetery in Queens, New York where many of the unidentified victims are buried. It is also where the annual memorial service is held. The other is a memorial marble fountain erected in 1906 at Tompkins Square Park in Manhattan.

 

Sources:
1. General Slocum Victims Remembered 109 Years(14 June 2013, New York Daily News)

2. PS General Slocum (Wikipedia)

3. The General Slocum : The horror of fire at sea (Jim Kalafus, Encylopedia Titanica)

 

TV reviews

MasterChef: Of Firefighters, Eggs Benedict, Burgers and Lobster

I will not recap this two hour episode, plenty of that at other sites around the web. Once cooked lobsteragain we had a two parter which means normally one person leaves at the end of each segment. Not this time. It took two episodes to finally determine who would leave. It opened with all our cheftestants cooking for 101 firefighters served banquet style and ended with Luca and Kathy competing to cook the best boiled lobster in butter sauce. Now here are some issues I had with these two episodes:

1. They gave Bime immunity despite the fact he poorly led his team. Actually both teams were poorly led. Gordon was totally frustrated at how each team were making very bad choices. Bime choose not to season the steaks and depend on the sauce. Bethy could not decide which sauce to serve and only at the end made up her mind. Lots of other problems materialized as well during service: components missing, undercooked food etc. So when Blue Team lost leaving Bimi, Jordan, Luca, Natasha, Bri, Krissi, Kathy, Beth to face the pressure test, I expected Bimi to have to wow them with his cooking skills.

Nope, they spared him and allowed him to choose one other (he choose Jordan). This inexplicable decision is probably because they feared he would be sent home. Considering the pressure test, I would sense he would not do well. Luca, Natasha, Bri, Krissi, Kathy and Beth had to cook the highly technical Eggs Benedict. It is not just slapping poached eggs on toast! The eggs must be poached perfectly, the muffin properly toasted and buttered, tasty and cooked properly Canadian bacon, and finally the hollandaise sauce must be perfection. Done right, it is heaven on a plate. Krissi and Bri got it right leaving the others with pretty awful dishes for the judges. Which leads to….

2. They could not agree who was the worst to be sent home. They have never had a problem in the past with figuring it out. The vote had to be split three ways for this to happen. All three judges have exceptional palates and I cannot believe they could not settle on one person. But it is possible that each one had only one person they believed ought to go and the other two had their own. So lack of at least two people means deadlock. When means another cooking challenge will be needed. With great dramatic flourish, Gordon leads the four out the MasterChef kitchen with the other cheftestants wondering what the heck was going on.

3. Next Stop, Las Vegas
Gordon Ramsay has a gourmet burger place in Las Vegas. These burgers are not your ordinary ones. These use the finest of beef with expensive toppings. I have no idea what Ramsay charges for his burgers, but such burgers are pricey. There is one famous one that costs several thousand dollars served on brioche and comes with champagne. Aside from free advertising for his place, the two teams must cook up burgers in a real kitchen with no one else to help them. A select group of people are coming in plus some VIP’s (which turn out to be the other cheftestants). Once again neither team seems to have what it takes to pull a win. Luca/Kathy struggle as does Natasha/Beth. Gordon acts as expediter which means he gets to be like his persona on Hell’s Kitchen in yelling at them to get the burgers done and sent out properly. One strangely comes back as underdone. Did Gordon notice it (he can certainly tell by squeezing it) or allow it purposefully to go out bad so he could shame the chefs?

In the end Natasha/Beth are safe leaving Luca/Kathy to face the final pressure test. Which then leads to…

4. Up on the Roof
I do not know who thought this one out. Did anyone find it odd they would need to cook their final meal on the roof? Where there no other places at all to film indoors? Then again when they pull out at the end to see the loser standing there all alone, I suppose that is what they were looking for, that long shot. It came across more staged and I got the feeling we have all been led down a path. That what happened back in MasterChef kitchen was more planned than we thought.

5. And now for Mr. Lobster
So they are tasked with cooking a very expensive lobster meal: poached lobster in butter and a salad. A classic Las Vegas meal for winners and those who aspire to be. Both Luca and Kathy put a lot of work preparing but Luca got his lobster first. After dispatching it, he began taking it apart. The judges were aghast when he left a major portion of the lobster behind which had a lot of meat in it. Kathy was running out of time but managed to get her lobster poached and into the butter in time to be presented. Kathy had a nicely colored lobster, excellent flavor, but to acidic on the salad. Luca’s lobster looked pale but tasted delicious as was his salad. Now remember he left a lot of meat behind? He served less lobster than Kathy and his was pale looking. Kathy’s only fault was that her salad was too acidic. Luca gets the win, and Kathy goes home. Gordon offers to mentor her in New York and I hope she takes it. Yet one cannot help thinking Luca did not quite deserve this win. Perhaps he won on the technical point of having his salad better than hers, but he is not destined to get that trophy.

Some other points:
1)Natasha is really a nasty person, probably an elite snob, who cannot handle criticism well. Despite her high opinion of herself, she really took a nosedive on the Eggs Benedict. She also was going to throw Beth under the bus if they lost the burger match.

2)Bri was the surprise here. She had never cooked Eggs Benedict before but really came through. She is someone to watch.

Next week: Lidia Bastianich is in the house and puts Joe in his place!


Titanic, Titanic Miscellaneous

Cameron’s Deep Sea Challenger In Washington D.C.

Deep Sea Challenger making its way through D.C. city streets to National Geographic Society building earlier this week. It will stay for two days before heading off to Woods Hole Oceanographic Institution in Massachusetts. (Photo: Washington Post)
(Photo: Washington Post)

Deep Sea Challenger making its way through D.C. city streets to National Geographic Society building earlier this week. It will stay for two days before heading off to Woods Hole Oceanographic Institution in Massachusetts.

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TV reviews

MasterChef Returns & American Baking Competition

You know it is summer when MasterChef returns with a new round of aspirants. As always, the initial stages are like American Idol where each person sings cooks for the judges. They get five minutes to finish the dish and make it look good. And like that other Fox show, you get a mixture of the good, the okay, the awful, and just plain weird. Showing up with a robot will get you noticed but little else if the food is no good. Likewise using breast milk as a twist is not going to win points with the judges either.

Like previous seasons, those who make the first cut are then put into the first group competition, which was to cook lamb and every part of that creature was made available for their use. They actually had real lambs come to drive home the point that you are lambs too, well you know how that ends right? So as they cook Joe Bastianich, Graham Elliot, and Gordon Ramsay (the Culinary Gods) observe how they cook and began making judgments (thumbs up, down, or a question mark). The twist this year was sending the Angel of Death (Joe Bastianich) to walk amongst them to tap those who had to turn in their apron and leave. As usual at the end, they were divided into three groups: those going to the MasterChef Kitchen, those going home, and those they were not sure about.

After sending the one group home, they spent time going over those they were not sure about. One of them was Luca, who tried out last season and did not make it beyond the initial round (Joe voted for him, the other two against). Fortunately his dish passed muster and was given the apron! So off we go now to the real competition where each meal you cook might be the last you do in MasterChef. This year, for programming reasons, they are putting two episodes together rather than splitting over two nights. So you get two doses of MasterChef in one sitting.

From what was shown thus far, this is going to be a good season to watch. There are some really strong competitors along with some strong personalities to match. In the most recent episode, Luca won the mystery box and choose everyone to cook cupcakes. As usual he got a free pass to watch from the gallery but then Gordon told him of another major bonus. He could take the stand mixer from one of the cheftestants! He choose Jordan, who pulled a “Frank” by saving himself from the pressure test his team faced for losing in the first field competition. That forced Jordan to work even harder to mix the ingredients the old fashioned way-by hand! He actually came out well in the end and Luca, after tasting his cupcake, said he was safe. But there were some hideous disasters. Jessie had “whack-a-mole” cupcakes, another decorated like they were in kindergarten, and Malcom (who was sent home) made cupcakes with a filling that totally disgusted the Culinary Trio.

This season looks very good thus far.

CBS has come up with its own cooking show that competes with MasterChef (at least for the first hour) called the American Baking Competition. At first I was not sure about this show. This is one time I am glad I have a dual tuner DVR so I can record both. The concept is simple. Amateur home cooks compete in a baking competition until one is left standing to be called America’s Best Home Baker with $250,000 prize. It is based upon the UK show The Great British Bake Off. Each episode has three challenges: a signature bake, technical bake, and showstopper bake. Jeff Foxworthy is the host offering some comical relief. Marcela Valladolid and Paul Hollywood are the judges.

While the show appears low key compared to MasterChef, it is just as stressful for the participants having to produce a winning dish each time. And the judges are just as picky as the Culinary Trio. Paul Hollywood does not have the patented Joe Bastianich stare but try to pass a bad pastry to him would be unfortunate. While Marcela will hold back from saying something bad (like that the swirls on a pastry remind her of something in the garden). Paul has no problems saying it looks like dog poop. However when they are quite pleased, they let you know.

The show lacks, I think, the pop of Food Network’s Chopped or MasterChef. On Chopped, it has appetizers, main course, and dessert. Each meal round mean some go forward while one goes away. Now that would not work on a hour show like this but two rather than three dishes would be better. The technical bake off is a good idea. You give the chefs the same recipe but with one key direction missing so they have to figure it out. Having something like a Mystery Box challenge to start off then ending with the technical challenge might do the trick.

Otherwise the show is somewhat predictable and a bit boring at points. You get some interesting personalities just like on other cooking shows. However if they ramp up the intensity and tweak the format, it would make a difference in the ratings. Worth watching later if you have something more important to watch (like MasterChef).


Titanic, Titanic Cliches, Titanic Miscellaneous

Sunday Titanic News

1. The Belfast Telegraph is reporting complaints people are making about paying a fee to visit Nomadic and another one for Titanic Belfast. Currently people wishing to board Nomadic pay £7.50 for adults,£5.00 for children 5-16. Family tickets are also available (£22-27 depending on family size). However if you want to visit Titanic Belfast, a separate fee is required for entry. Which has got some visitors angry at having to dig deeper into their pockets. The Telegraph reports that Nomadic Charitable Trust is in negotiations with Titanic Belfast to set up a joint ticketing scheme.

Source: Call To Streamline Nomadic Ticketing After Complaints(6 June 2013, Belfast Telegraph)

2. James Cameron, who recently gave his DeepSea Challenger to Woods Hole Oceanographic Institution, believes that one day expeditions such as his would help scientists predict deep sea earthquakes and their tsunamis. In an interview to CNN, Cameron says “Building technology vehicles like the DeepSea Challenger to get down there, is a first step to planting large instruments which could allow us to survey seismic activity. Ultimately it could lead to some predictive modeling which tells us ‘look we’ve got pressure building up here, maybe this could be a tsunami in the Pacific rim, get ready, brace yourselves”

Source: James Cameron: ‘Deep Sea Exploration Could Help Predict Tsunamis’(6 June 2013, CNN)

3. Australian MP Uses Titanic Cliche

Warning! Titanic Cliche Ahead
Warning! Titanic Cliche Ahead

According to ABC News Online, a backbencher decided to throw out Titanic in reference to the Labor party. Here are the choice quotes from Yahoo 7 News:

“It’s like the Titanic – we’re in the final scenes”
“Third class has realised the doors are locked and they’re not getting out.”
“And first class are running around looking for a dress to put on.”

Wow. One hopes you do not find the lifeboats all gone when you get there! For misusing Titanic, you get our infamous Titanic Cliche Award with fractured finger.

Source: Labor Going Down Like The Titanic And Rudd Won’t Be Coming Back: MP(6 June 2013, Yahoo 7 News)

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Titanic, historic ship, and general history news.