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Re: Jester_Vandalay post# 164

Monday, 12/09/2013 10:02:17 PM

Monday, December 09, 2013 10:02:17 PM

Post# of 629
I wasn't implying that the pre-pack would be good for the common. I am trying to give you a ray of hope, because 90% is too high to pay for one, yet not enough to pay for a solvent company.

Book value is $33.75/sh, and they had 14.16M of levered free cash flow, and a current ratio of 2.85, according to Yahoo finance.

They appear to be able to wait some time before taking such step. Of course, that doesn't exclude the possibility that the management might prefer to work with these consultants and receive lucrative retirement packages for selling your equity down the river. Keep your eye on that BDI.

The consultants will make money either way. I don't expect that management will always be in our corner. If they can't manage the cash flow, they tend to make bad deals and cost equity holders rather than lose their jobs. You would think they had some idea of what they were giving up, but nine times out of ten I would think they are clueless in these situations. They just know "money gone" like a baby who finished his lollipop.

The Lawyers only see big boats that they can (must) sell in an Auction. They have indifference to rising or sinking rates.

The hedge fund manager sees big profits for himself, but not for the little guy.

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