massive wall being built, page-28

all this talk of new preference share issues in BBI is a waste of breath.

You can only get a pref issue away in situations where a company is perceived to be rock solid. that is the only circumstance in which the various risk / return tradeoffs make sense for investors.

Therefore, BBI would not even come close to finding sufficient demand for a pref issue these days, and given the near-death experience that this one has had it will be many years before they would have any chance of being able to tap the market for this form of capital ever again.