DryShips: Caveat Emptor

Well, in case you missed it in the comments section of "Buying Dollars for Dimes", reader John quickly pointed out a couple of unsavory tidbits (oxymoron?).

First up is "Curious George," in which it is disclosed that CEO Economou owns his own private fleet of ships, which might tend to smell like a conflict of interest. That, and he doesn't seem to care so much about shareholders. Oh, and a previous company went bankrupt with Economou ending up with most the fleet while shorting creditors some, if you consider "37 cents on the dollar" less than adequate.

Also, in "Dry Bulk Shippers..." the planned sale/dilution of existing equity is discussed.

Perhaps cheap isn't as cheap looks, but still...