Osu_buckeye

Not sure why you think Berkshire Hathaway doesn't have any debt. The company is a direct and indirect issuer of Corporate Bonds among other forms of debt, including bank loans, asset securitizations, leasing, etc. Check their most recent 10-K, they have over $100 BILLION in Debt issued directly by Berkshire, wholly owned subsidiaries, and consolidated investments. If you don't have debt, it means you are 100% equity financed. Equity is the most expensive form of financing. A well-run company will be an attractive credit risk and can get debt at a cost much less than the cost of equity. For simplicity sake, assume that investors require 12% return on investment for equity (stock ownership), whereas debt investors are willing to lend money at 6% as long as the company doesn't have more than 50% of their capital from debt. The all-equity company has a cost of capital of 12%. The company with 50% debt has a cost of capital of 9% (0.5x12% + 0.5x6% = 9%). I'm ignoring tax effects, but that would lower the cost even further for the 50% debt company as interest expense is deductible. A good company uses the debt financing to invest in projects (buy ships?) that produce a return in excess of the cost of the financing. All of those returns go to the equity holders after the debt is repaid. A project is evaluated on this basis by prudent managers. There are several ways to do it, including payback period, IRR, NPV, etc. NPV is probably best for long-term asset investments like ships - they have a long life span.

Hatch Act??? You mean Jones Act.

We're not big Sabor fans, but on one cruise we went for dinner and ordered what we wanted, which was well under the a la carte credit. Our waitress was concerned we didn't have enough food, so she brought us more items to try. I think she was worried we would not be happy, but we just picked the items and amounts that suited us. After chips, guac, and a couple of Tecates, we really weren't very hungry.

The feed is ESPN Caribbean, which is why no commercials. Was on Oasis last year during game. Announcers were not the same as whichever US network had the game. We watched most of game in Studio B (ice theater), then went to casino when Atlanta had the game in hand - oops! Had to rush back to watch end of 4th and OT. RCI puts out tailgate food - nachos and dogs.

We got chairs (paid for a reserved canopy) on Adrenaline Beach. It's in between the coaster and where you go for training for the zipline.

Jolly Beach on Antigua. Saw several of my casino "dealer friends" there playing beach volleyball and eating/drinking at the bar right on the beach. Guessing they would have a good idea on better spots (balance distance from Port with amenities / quality of beach). Reportedly, there are 365 beaches on Antigua - 1 for every day of the year.

Get the all day pass. Your ride experience is dependent on the cars in front of you. If you get behind someone who is timid, you have to ride the brake the whole way down - very boring. I rode 3x, 2 were fun, 1 was a dud. I would have been disappointed if my only time down was behind the slow rider. Your sons will be able to ride together or separate, whatever they choose. They can mix it up. I went right after securing my beach chair, and the lines were short. After 3 rides (about 1 hr total between standing in line, waiting in your car, and the ride itself), lines got much longer.

The Dragon Tail Coaster is fun. Buy the all day pass. Since there is only 1 track, you are limited by how aggressive or timid the person in front of you is (you have to maintain safe distance between riders). My second ride was very slow. I wouldn't have been happy if it was my only ride. Also, you can go as singles or doubles. Maybe the kids mix it up, if they have unlimited rides.

It takes about 3 hours or so, including instructions. You can be ultra competitive and run between destinations (the winning team) or go at a leisurely pace. You end at a restaurant where you get 1 free drink (adult or nonalcoholic), plus chips and salsa. I think everyone ordered food - you're hungry after the running around - which you have to pay for. There's still time to shop, but we were there in May and it was HOT so everyone just wanted to get back on ship.

If your family watches The Amazing Race, try the single day version in Cozumel. It's a series of puzzles to solve, and your kids will do as well or better than you. It gets great reviews on Trip Advisor. Did this with adult children (19 and 22) in May, and they even had fun despite not being Amazing Race fans. https://www.google.com/url?sa=t&source=web&rct=j&url=https://amazingcozumelrace.com/&ved=0ahUKEwi1yNetpsfYAhUl4YMKHeMjD6YQFggwMAE&usg=AOvVaw14iwBFlYmURHEXv2nW5Dzp

Bought a day pass to a Sandals once to preview / try the experience as we've considered doing that instead of a cruise. Otherwise, we just stay on the boat if we don't want to get off for whatever reason (been to port too many times, don't like the port, just need a break on a port intensive itinerary, etc).