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Non-Tech : Auric Goldfinger's Short List
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To: Sir Auric Goldfinger who wrote (1268)1/21/1999 11:28:00 PM
From: TRIIBoy  Read Replies (1) of 19428
 
Do you realize that as of 9/98 they had lost about $2.3 million in foriegn exchange? That was with a decline in the real of 6%.

Since Jan. 1, the real has sunk nearly 30%, meaning that VTCH must in the first quarter take a hit of somewhere on the order of $10 to $15 million, not to mention, the bad debts that must be hitting the company right now, with interest rates at 42% and the economy in full-blown recession.

Unless daddy is willing to pump in about $50 to $100 million to take the company private, with the FX exposure and the incredible size of inventory, and the A/R they are on the hook for to the guys in the Cayman's, bankruptcy is not far off.

I'm really interested to see the end game for this company, because I don't think daddy is going to want to throw as much money as he is going to have to throw the company's way. And TAC is probably not going to accept anymore receivables considering they have more than they want already.
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