LOL. I enjoyed the reply, J.T.. I actually already knew your style after reviewing your blog. The reason I thought you might want to deep dive a little on ROHI is that the players that are calling the shots, here, are in fact big money/big board-type players and these are the questions that Deutsche Bank, Linde, Wynnefield and Nelson Obus are asking. And potentially answering, which will determine the immediate fate of ROHI. The window is about 30 days, here, not 30 years, and I do not believe the pace will be all that lethargic. Both the rewards and losses can be staggering depending on your play and the company's fate.
The options I see run the gamut from Voluntary CHXI, Involuntary CHXI, CHVII, buyout by Lincare, buyout and taken private or shareholder's suit and proxy battle for control. I have one more that I won't share, just yet.
You don't need a calculator to comprehend the financials... I almost never use one... and I certainly didn't need one yesterday to discern that ROHI had NO CASH with which to make its bond payments, putting it in default and a candidate for an involuntary CHXI. The impact of CMS rollbacks poses an enormous threat to any recovery and has already had a wizzening effect on ROHI's possible survival in the forward market. It would challenge any potential financial backer thinking about taking on all or even a portion of $600M in debt, or a portion of same in the form of an equity swap.
I actually enjoy tracking pinkies and pennies. And I have found much, strategically, that is pertinent to big board trading... like Worldcom, Tyco, Gateway... this arena is like the birthplace of Bernie Madoff, Hank Kozlowski, Bernard Ebbers, et. al.
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