RE: Reality CheckYou seem to miss a very big point. They couldn't get the financing. Stock valuation are done on future earning not on next day earnings. The refiner was going to generate huge earnings. Now it appears that it could be delay and the way the stock is trading, it appear that the sellers don't think it's going to happen.
I don't see how you can blame the company for the credit crisis. No credit crises then the stock would be at 28 bucks or so and everybody would be happy.
MM