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Re: cubiak post# 15195

Sunday, 05/05/2013 2:33:40 PM

Sunday, May 05, 2013 2:33:40 PM

Post# of 24405
FWLT from 2005 is a good parallel. Similar scenario with lots of debt, big convertible notes, negative equity, FWLT had outstanding asbestos liabilities in the billions (like the pension liab with YRCW). It went from $4 to $80 in a span of about 30 months.

The overriding factor, though, in both cases: a huge improvement in operating income, then net income, then restructuring debt.