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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: TRIIBoy who wrote (14724)1/4/2001 9:37:20 AM
From: torquatus  Read Replies (1) of 18998
 
Do not overlook that bft has $600 million nol tax asset and that none of that debt is due for a very long time. There looks to be a good deal of fraud at bft--inflating earnings by not including taxes, artificially deflated depreciation--but it is in no danger of going bankrupt, which, as Mr. Pink notes, is reflected in the value of the bonds. The debt collection problems are old news.
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