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Non-Tech : Cityscape Financial (CTYS)
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To: Rational who wrote (1666)11/16/1997 6:50:00 AM
From: Ploni  Read Replies (2) of 2544
 
Sankar,

Thanks for the elucidation, which was helpful. They said on the conference call that they had not considered shutting down the U.K. operation, and I got the impression that they weren't going to consider it, either.

What is the franchise value, if the business is inherently dangerous? Can they be profitable if they avoid the high LTV loans, or if they are much more selective about who they approve for loans?

Also, is there an easy way to explain the English rule of 78's? I have the impression this is still legal, but they weren't going to follow it anymore, because of political pressure.

- Charles
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