attention-yak, page-7

I made some enquiries re PWT.

There's nothing known about any windfall opportunities or successes in the pipeline. Just slow but steady but inadequate sales growth. They are also fully drawn on their line of credit with a total $90m debt, which will devalue them in the event of a bank or whatever thinking about acquiring them. The last possibility might be their bank syndicate led by Chase taking them over or forcing them into administration in which case shareholders get nothing. So I'm not optimistic for shareholders - just my opinion.