RE: Pref B don't hold breath for redemption I believe they should convert both Pref A and B ASAP. This will achieve two things in the short term. First they will save up on div payment and reduce debt. Second, unfortunately the current market hates debt and wants only companies with clean balance sheet. Therefore total elimination of both A and B is warranted. I understand this will dilute the current common share holder but that is the only way the company will make it past 2013. Please don’t forget the pref holders are getting 10 cent on a dollar.
At this point the only game in town is debt reduction and 360 solutions. The long term strategy should be debt free.