Monday, May 19, 2008 11:25:41 AM
forcing losses way up.
Q1 is always the worst, even for real Department Stores.
And, Hacketts even lost money in Q4, which was supposed
to be their 'best ever' , [according to long fans].
Q1 is when all of the Christmas returns flood in.
Especially during a recession, in a depressed mini-region,
where everyone needs cash, and nobody needs overpriced gifts,
like winter coats, and snow shovels, as global-pre-warmed
spring arrives early.
But, we can hardly wait for the Q-2 10-Q , in 3 months.
That's the first time that swvc must 'report' the losses
from all of the cash-burners that they 'acquired' from
their new COO. And, they even have to over-pay him a huge
cash salary, for years, as part of his 'big deal'. And,
his main 'job' is to sell cash 'services' to swvc, from
some of his old shells, that he did NOT sell to swvc. Those
old shells never made 1 penny, but, shells are great. Since
they never had a 'business plan' [or any 'business'], they
can sell anything to swvc, for immediate cash, and call it
their new business plan, for exponential growth.
extra, Sincerely. But, just more opinions, based on known
Facts, as Filed by swvc, with the SEC.
P.S. ; We expect the WF Loan to be re-called, right after
the Q-2 10-Q is Filed. Because, it will prove that Hacketts
will never be profitable, after WF adds back all of the
'cost-shifters'. The 'friendly loan' to swvc snuck in, but,
is about to be 'reviewed' , due to WF Shareholder 'concerns' ,
about sub-prime subway 'loans' , to cost-shifting sudsidiaries
of always-money-losing holdout 'companies' , that have Always
had a negative net-worth [= Debts bigger than Properly
Appraised value of Assets]. And, if those 'assets' always
lose money, they have negative 'business value' , and must
be appraised at salvage value. The Only Cash that swvc has
remaining, is from the WF Loan, and it's already tapped out.
When it is re-called, swvc will sink into BK, unless they
find some newer toxic/death-spiral 'financiers' [at worse
terms than swvc's currently worst 'deal']. Otherwise, the
only out is for the CEO to give back some personal cash.
That will never happen. He'll just watch swvc go BK, and
offer to personally + privately buy a few of the best pieces,
at fire-sale prices. And, start a new hedging hold-out fund.
Averaging-down is profitable, for shorters, only.
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