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Non-Tech : Boston Market (BOSTQ)
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To: capitalistbeatnik who wrote ()5/31/1998 1:15:00 AM
From: CoffeePot  Read Replies (1) of 1567
 
Why the sudden decline on OLD news????

Arthur Anderson stated their doubts of BOST being able to continue as a going concern on May 19 Also the debt they're referring to only requires 65mm in interest payments for the remainder of the year. As of April BOST had 32mm in cash and has the option to sell it's 17.3mm shares of ENBX which at current prices is worth around 82mm plus they have the option to sell realestate worth over 100mm Combined BOST should be able to raise at least 180-200mm in addition the the 32mm on hand, which will hopefully be enough to last at least until the remained of the quarter if not longer.

I'm not sure how business is for BOST outlets in other areas but here in So. Cal business is brisk. I personally feel BOST expanded into the wrong markets. If business in areas like So. Cal and probably a lot of areas on the East and West coasts could be duplicated system wide BOST probably wouldn't be at $2 a share today.

Well, long term is a bit iffy but just looking at the #'s it doesn't seem necessary to do a BK at the moment. Hopefully when the CEO announced on the 19th that BOST was not going into bankruptcy he had a timeframe longer than a week. I would expect more media induced panic selling in the am but unless any REAL negative news comes out BOST will likely recover into the mid two's, maybe higher.
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