I'd caution against confirmation bias here. i.e. the SP has trended down for a year because of poor results (on a cash basis) and management turmoil. 8% of stock is in play with short sellers. The lower SP has increased trailing div yield, but if cash profits don't increase those dividends will be unsustainable in future. The market has downgraded the SP based on these facts, not due to 'pessimism'. I'm waiting to see what happens with financing given one (if not both by now) bank funders have turned off the tap. Interesting post above quotes Mike Kemp suggesting the new CEO is only temporary (yet not named as "acting"). Overall, news has been continuously negative, SP at 3 year low, and not showing cause for buying (which all brokers still covering also say). Revisit sub $1.
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