Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: jacin who wrote (36713)	6/4/2002 12:09:31 PM
From: Lee Lichterman III	Read Replies (2) of 52237

That number "assumes" they can sell those assets at face value. Recall that they have tens of billions in debt and are struggling to find a buyer for their CIT division with no takers thus far. It may all work out in the end and like all things, it is a risk vs reward decision. The risk is they can't find buyers to get the debt taken care of and if they fold, the bond holders get first crack at the remaining assets after the creditors get done. Stock holders usually get nothing. It still might be a good buy if you have a long term perspective on it though as right now they are being beaten up because they have zero credibility left. They have issued one press release after another saying they were going to do something or had not done something only to have to reverse that later. When shareholders no longer trust management, it takes a while for people to return. Might want to take a look at CD to see how a chart looks when stuff like this happens. Good Luck, Lee

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