RE: starting to look goodAt this point the management have earned everyone's suspicions. I'm still holding my shares and taking my punishment.
If you read the NR carefully Jackass-son is saying they have ceased or sold enough bad business that they no longer need to hang on to the capital reserves they had built up to safeguard further problems. So what better thing to do than to pay some debt early?
Does anyone know if the payments on the debt they are retiring are particularily onerous? Or did Bill Starr lend them these funds and want the money for his retirement yacht?