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coachum

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coachum

Re: None

Saturday, 05/23/2009 10:32:42 AM

Saturday, May 23, 2009 10:32:42 AM

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This is the interesting part of the last PR.

"Pilgrim's Pride announced that it had fully repaid its $450 million debtor-in-possession financing facility as of May 15, 2009. As such, the proceeds of the Farmerville sale will be held in a cash collateral account and used for general corporate operating purposes as needed"

Perhaps I am wrong but I read this as we paid off our debt and now we have cash. Next step...... remove of the Q ???????
This is huge news and the stock goes down today. Am I reading this PR wrong?

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