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To: Jurgis Bekepuris who wrote (76105)4/9/2009 1:12:49 PM
From: Jurgis BekepurisRespond to of 118717
 
HTZ

To be fair, Bruce gets some safety in HTZ, URI and similar since Fairholme can also be a lender to these companies if they hit credit/cash/repayment crunch. It's a bigger risk for Fairholme if the crisis is significant, since company could eat through both equity and probably junior Fairholme loans. It is a lesser risk if the crisis is minor (like temporary violation of non-Fairholme loan covenants - Fairholme could replace such loan with their own one).


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