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dwg

$2.28 million to destroy contents of

65 shipping containers,

= $35,076 per container

I wonder where the bulk of this cost comes from. Transport? Legal fees (for the petition)?

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For real. I’ve got a fire pit in my backyard. I’ll knock out a container a day for a couple months for 2.28m

That's most probably illegal to do. It certainly is where I live.

In all honesty, though, you could just take them all to a landfill, right?

Yes, I'd prefer a ticket sequestration strategy

Thanks to globalization, this is no longer an issue! All you have to do is outsource it to somewhere where it is legal to burn it. Comparative advantage at work!

Isn't it fantastic to have zero ethics whatsoever?

Burn it, and spend a million on planting trees or some other form of carbon capture? Probably come out way on top in terms of both CO2 emissions and budget.

Or bury it

Of course not. It would be unethical to -not- do such a thing. You have a fiduciary duty to shareholders!

Beautiful. Not sure if serious or not (80% certain it is sarcasm, but I could be wrong), however it's a very real discussion that is not new:

https://hbr.org/2009/01/no-profits-without-ethics.html

Ya, sarcasm. Because I think if we are concerned with ethics, there are a lot more factors to take into account than just shareholder profits.

Very good, thanks. :-)

I’ll happily burn them in China for a slight fee of say 3MM?

Why is it illegal where you live? Burn ban?

I live in a city and the bylaws prohibit burning garbage. I imagine the main rationale is avoiding the smoke and the smell. I am sure there are also concerns about environmental effects and fire risk.

Combine this with that crude oil they were paying someone to take off their hands a while back and you’d be cooking with gas.

Well, cooking with oil.

A container is 2200 cubic feet. One of those a day is a cubic foot every 10 seconds for an 8 hour day. That’s some fire pit you got there.

I think it’s mostly paying the vendor who manufactured them.

The tickets were created, the vendor wants to get paid, but CEC doesn’t want the product and is in bankruptcy so they are trying to pay ~$1MM less than full price to settle with the vendor and keep the tickets from being sold to someone else.

Ah ha. If so that makes sense. Thank you.

The containers sell for $5k to $8k each depending on size and condition. Maybe just sell them for $1k each and buyer has to agree to deal with what is in them?

Not if you’re “renting” them from the liner. Then depending on the port, it could be an astronomical fee per day

What I mean is, if you want to buy a shipping container, they cost $5k to $8k (used). People buy them all the time. If they were doing this in about 9 months from now, I would take some of them off their hands. They could sell them for much less to get rid of them quickly and stop paying the rent.

I wonder how much they cost. Alibaba shows 1.88 for a roll of 2000 for orders of a 1000 or more. I bet you can push it down to a $1 for that volume not factoring shipping costs. Which would mean all these tickets would cost $3.5mm.

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