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Gold/Mining/Energy : Friede Goldman Halter (FGH) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (94)10/27/2000 9:04:35 PM
From: Adelantado  Read Replies (1) | Respond to of 177
 
Today's news is that the company is trippling its debt so that:

"This new credit facility will allow us to focus on our primary objective of building profitable backlog'' said John Alford, president and chief executive officer of Friede Goldman Halter. ``We are confident that the market is turning and we are positioning the Company to take advantage of all opportunities.''

This implys to me that right now there is an unprofitable backlog, or no backlog at all. What kind of backlog does a ship refitter have, anyway---orders pending to repair, boats sitting in the yard waiting to be worked on,.....?



To: Mark Adams who wrote (94)11/3/2000 11:34:34 AM
From: Yogizuna  Read Replies (1) | Respond to of 177
 
I see you have more spare cash than I do! <big grin>
FGH will be trying to break above it's 27DMA today, which sometimes acts as an area of resistance or support.....
If they can build up future sales by increasing the debt, that will be OK, but of course there is some risk involved with those kinds of strategies. Have a nice weekend. Yogi


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