People worry unduely about the implications of the Lehmann Bros Hedge....remember, the hedge was in existence BEFORE Lehmanns went bankrupt...what I'm getting at is that Norton's current low share price REFLECTS this hedge, even though in theory, the hedge obligation may never have to be met....think about that for a moment.
Parker and Co are spending nearly all their spare time sorting this hedge issue out...I'd expect that rather than just sit and forget about it and hope it just goes away, NGF will reach some kind of settlement with Lehmann's administrators somewhere in between...kind of like both parties end up taking a bit of sting, but both are far better off (financially, and direction-wise).
I think this would be in NGF's best interests, and I'm absolutely certain management are astute enough to think likewise.
Good to see it perform so well in an otherwise disasterous 24 hours globally...
By the way, Hainholz, I just love your enthusiasm in your comments!It's great stuff! ...Clozapine
the hedge
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