RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Sold out... again I was referring to buying FIRE.DB for their personal accounts. Nothing to do with the company's current liquidity but some action that risks their own personal capital on what should be a low risk proposition given their stated outlook.
johnale wrote: Well I agree they should buy the debenture below par - its a no brainer - and financially accretive.
Obviously I disagree on the timining though - as Ive stated to you before.
They are in no position with the price of the stock and current market to be buying debentures. I think their position is that investors are returning in the summer - and the buisness is improving rapidly.
By mid august we may get Q4 numbers (unaudited) providing a picture of a much more financially stable buisness and higher share price.
At which point you have 1 year until you have to show the banks a plan. Then you have a better picture of the market and cash flow - and they can possibly do an irwin deal or start buying debentures with ATM/free cash flow/debt.