...if they can have two quarters of last 3 years avg quarterly earnings the stock should be high enough that half of the class participants would be "in the money" and therefore out of the class
Bruce,
I'm a long, so I hope that your optimism will pan out. However, I don't think the lawsuits are going away. People sold and locked-in losses. Even if the longs who are holding on break-even or make a profit, there's still the matter of the trauma that we were subjected to: sleepless nights, ulcers, etc.
As far as earnings being as high as the last 3 years average quarterly earnings -- I don't know what that number is, offhand. I guess "earnings" had been growing significantly, so that may be possible. However, earnings won't approach recent levels, because the company has sold some of their income-producing portfolios, and are talking about selling whole-loans. It was discussed a couple of weeks ago (perhaps by Sankar?) that this action would generate liquidity, but hurt profitability.
In any case, I'd like to be optimistic -- losing money isn't my idea of fun.
- Chas. |
