| The company has value. Contracts, equipment, finished goods, land, improvements, presumably a skilled employee work force, a once-respected worldwide name in rig and ship design, etc. etc. The problem is debt, insufficient cash flow, and inept management. There's a lot for secured creditors and bond holders to pick over, savor, and stow away or much more likely sell. It's the common shareholders who likely will be left out in the cold. Astonishing, really, how quickly bad management can bring a good company to ruin. It's something to remember.... |
