The Advocate: Pelican State Portfolio posts drop in first quarter
Peter Ricchiuti, William B. Burkenroad Jr. Professor of Practice in Equity Research and senior professor of practice in finance, was interviewed for a New Orleans Advocate story about the Pelican Portfolio, a group of 23 Louisiana-based stocks tracked by The Advocate. The portfolio’s performance was down .5% for the first three months of 2019.
PHI is the third major helicopter service company to file for bankruptcy in recent years, according to trade publication Aviation International News. CHC Helicopters and Erickson both filed for bankruptcy in 2016, and helicopter leasing company Waypoint filed in November, the publication reported. Bristow Group, a Houston-based helicopter firm that is a competitor to PHI, has seen its stock price plunge dramatically, from more than $18 a share in mid-May to mainly trading below $1.25 a share since late February.
“The Gulf of Mexico is just totally dead,” Ricchiuti said.
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