Remember why we bought..
Walter isnt going to just walk away from this. He has too much economic interest in the firm - call it enlightened self interest.
Maybe he is meeting with an acquirer in Phoenix.. could be making calls.. too many hypotheticals.
We all have our positions established in this - we just need to remember why we bought it.
I bought it because this is a cash flow story: a poor business environment means TID sells off inventory (fleet) to generate cash flows; a good business environment means it rents out its inventory to generate cash flows. TID's rental fleet is best understood as inventory, which means that TID is, among other things, a "net-net". Value it as such and the investment opportunity is clear.
The fly in the ointment is that somehow the lenders werent managed correctly, my guess is that debt ratios / gearing went sideways/down under the previous CEO.. but the value (fleet) of the business provides the extra risk margin / security.
In the worst case, I am willing to wait for Chapter 7, and will still make a pretty profit, but of course there is a lot of road to travel between now and Chapter 7, and many more significant profit opportunities along the way.
TID probably wont enter Chapter 11 or 15.. will know more by end of day Monday (my guess is that we wont but I dont really care .. heads I win, tails I win.. just changes how much I win).
They halted trading so that the lawyers and deal makers could do their thing without chance of leaking the information.. they are going to take as much time as they need. We are not going to hear anything from them until the press release.