...spare a thought for poor Windstar, or more accurately, their parent company Ambassador's International (AMIE on the Nasdaq).

While CCL might be down 50% over the past year, and RCL down 79%, Ambassadors is down a whopping 97% -- sitting at just 37 cents a share as of March 11, 2009 (vs. a close at $11 in 2008). (Link to chart on Google Finance)

What makes this even worse, is that just two years ago, those 37 cent shares were trading at around 45 DOLLARS.

In February, Ambassador's announced a series of major changes: they're shedding all their non-Windstar assets, replacing the senior management team, and consolidating operations in Seattle. So far, this hasn't really helped.