why the fall, page-17

  1. 15,866 Posts.
    Invest,

    Their issue is the fact that they have $3.9 billion in debt that has to be refinanced by Feb 15th.

    If no-one gives them the new money they are insolvent!

    A fire sale of assets will reduce the values considerably.

    In theory they have assets of about $26 billion and debt of $18 billion.

    If the assets fall far enough in the fire sale scenario then the company is worth ZERO!

    Place your bet on whether or not someone will refinance then by Feb.
 
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