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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (6372)1/26/1999 10:05:00 AM
From: Mr_X  Read Replies (1) of 18998
 
Is Mr. Pink at all concerned with the negative results of Vencor, the sole tenant of the Ventas properties? Seems like Vencor is saying "Our revenues are down, our expenses are out of control, we are writing down all of our recent acquisitions to reflect out gross overpayments, but because we are in such disarray, we don't know by how much yet. Plus our banks are pissed at us for violating all our covenants, and we have to crawl to them for waivers."

But at least they are still paying their rent. Should we be concerned?

Mr X
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