Tuesday, January 05, 2010 6:40:02 PM
http://drkellegro.com/?p=55
Posted 1/4/10
Briefly…a long position was taken in GSIGQ. This is another bankrupt company that has been mismanaged for some years. The financed acquisition of Excel led to substantial debt which was renegotiated in bankruptcy. There is substantial shareholder activism taking place here, as the company does present value to shareholders once it has cleared up its delayed filings, some going back more than a couple of years. The fundamentals of this company are more difficult to judge due to the lack of complete information. However, it can be assumed that management has not completely sunk this ship and the value to shareholders will be realized over the long term.
- Dr. Kellegro
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