Okay, first things first, when I (and Mark Lubbers) say "analysts", we mean the people who work for the financial houses. Eavis and Greenberg are journalists, or, if your prefer, commentators. The Lubbers letter, if you read it, at no point refers to Eavis, Greenberg, or thestreet.com, but only to the "SSB report", issued by Colin Devine (who himself is peculiarly never mentioned by name).
How is the current situation any different or worse, materially, from the situation when Wendt took over?
Well, for starters, the big bubble of euphoria over Wendt's hiring is gone, so the opportunity to run a secondary offering has gone by the boards. Credit agencies have downgraded them. Earnings projections have been slashed. Cash is running out as are assets that can be sold to raise cash. Bad loan rates have gone up.
That enough? |
