Prince Albert:
"I would welcome any arguments against cnc - insults is not considered an argument"
Well, (1) it is losing money, (2) after you take out intangibles it has no book value, (3) deeply in debt and borrowing at a rapid clip last quarter, (4) has 1.5b in debt coming due by the end of the year, (5) more debt maturity coming up after that, (6) finance burns cash like crazy, (7) finance has a lot of questionable loans and strips on its balance sheet, (8) insurance operations are deteriorating, (9) insurance subs stuffed with junk loans from finance, (10) frequent downgrades by rating agencies, (11) debt is selling below junk level, (12) already did $500m equity financing, (13) just threw over $100m at past and present CEO, plus probably a few other things I am forgetting. |
