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Carnival profits suffer

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The world's largest cruise line operator reported last week that its profits dropped by nearly a 20% margin, most likely due to higher fuel costs. Carnival was forced to cut its earnings forecast for 2006, and its stock has dropped as a result.

Both Carnival and Royal Caribbean Cruises have faced spiraling profits and a weaker outlook due in part to accidents that have caused the death of passengers. One person died recently when a fire broke out on one of Carnival's ships, and 11 died on a Royal Caribbean cruise when their bus excursion plummeted off a cliff in Chile. Both incidents have been public-relations disasters.

Yikes. Talk about a killjoy. Exploding or falling off a cliff is not something one typically associates with a pleasure cruise. Maybe those profits should be going down.



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