Hi guys, I haven’t read thru all the threads today but for what it is worth in my opinion Glen threw a negative slant on today’s announcement to call the bluff of our various lenders. At the end of the day they can either close us down or give us the extensions etc. I think the first option is out of the question for the banks as they can’t afford to take this sort of loss on top of all their other problems.
Not to mention a few nice executives who would be looking for new jobs and of course the effect on their respective SP’s. No I believe that as CNP is making progress the banks have no choice but to give CNP what they are asking for. Hence I believe Glen is aware of this and has to a degree backed them into a corner with today’s announcement. I am not saying they can’t close us down just saying it is not in their best interests to do so.
BTW I agree with Tweety’s comments we are all in the same boat some just have a nicer spot hehehe. That is the only reason I can really see for an update like this as Apples pointed out that could have been done Friday. Looks like Glen wants some leverage in the ongoing talks. I could be wrong so note this is only my take guys. Good luck to holders.
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