Bankruptcy Predictor Model Message Board

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Strategies & Market Trends : Bankruptcy Predictor Model

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To: Q. who wrote (143)	3/24/1999 8:43:00 AM
From: Bob Rudd	of 477

LWN: John as you're probably aware, some factors affecting the LWN situation: Canadian bankruptcy proceedings differ in kinder gentler ways according to informed Canadians posting on the subject. CIBC, the main bank in the game, is also a very large stockholder..thus a PARTNER on multiple levels. Current management blessed by CIBC and has turnaround experience Assets are somewhat overpriced...they paid high for more recently acquired properties..though this is somewhat offset by depreciation Increased competition and pricing information has made funeral biz a bit less of a can't fail proposition than it once was. I saw a recent bond quote of 57 ...not indicative of default [But bond quotes may reflect wishful thinking on bond inventory rather than actual market..just checked one source] It might be useful to view shares in LWN as warrants or options and value accordingly Regards, Bob

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