Allan -
I too read where it states that they have $1.3 billion in debt, however, the story out of Helsinki states
"long-term debt of $1.1 billion and current liabilities of another $1.1 billion . . ."
Not really sure! The article posted by robbie, also found on Yahoo!, is out of Finland, the home of Valmet. It's possible that this article is just a little slanted towards Valmet. One of my favorite lines out of the article, if I may cut and paste:
"I don't think it will vanish from the face of the earth. In the U.S. you can go belly-up under Chapter 11 and still stay in business --it's new tricks, old dogs."
IHMO, Beloit has a lot left to offer, and whether they are bought out or their debt is restructured, I'll take my chances at current prices. I picked some up (not nearly enough) yesterday at $1 1/4, and more today at $1 15/16. I'm hoping for a double or triple bagger! This is purely speculation, as the bankruptcy filing is VERY fresh and more news is bound to come out of this one. What's your position on HPH? Did you load up the boat at 1 1/2 <vbg>.
Regards~
TP |
