Congratulations to Carnival Corp. for netting more than $1 billion in its latest quarter. Despite a double-digit drop in revenue, the company still managed to generate an enviable net profit margin of nearly 26%.
A little bragging is clearly in order -- but not a lot. Carnival Corp. is the parent of several cruise lines that serve Alaska, including market leaders Holland America and Princess.
They, and others, are in court in Alaska seeking to put an end to the state's odious $46 entry fee for cruise passengers. The cruise lines seem to have some solid constitutional and legal arguments on their side, not the least of which is that this fee is discriminatory and that the revenue it generates has been misappropriated.
These are trump cards, but we can't say the same for the argument that the fee is an economic hardship for companies with 25% profit margins. It wouldn't do to play that one too hard.