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Technology Stocks : Read-Rite
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To: Dennis R. Duke who wrote (3290)5/23/1998 3:39:00 AM
From: Robert Schling  Read Replies (1) of 5058
 
Dennis,

Thanks for your informative post.

Did you get a chance to mention RDRTs debt and whether eventual covenants have been, or are about to be violated, forcing RDRT to negotiate with banks and/or seek a recapitalization?

I'm speaking from memory here, but RDRT is definitely in a negative cash flow situation; that's when bankers get nervous if you already owe them money.

If RDRT had a strong balance sheet I would not hesitate (as in the case of semi-equipment makers when panic hits). This is definitely a tougher call.

Does anybody else out there have a better insight on this specific issue?

Thanks

Robert
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