"The market had nothing to worry about at that point, esp as the company appeared to be sound."
Apparently the market did have something to worry about,at that point, but even after aug '07, did not want to see it coming,there were plenty of warnings,that credit was about to dry up due to financial chicanery in good old USA, and companies with high debt level were about to become financial pariahs.
Of course now ,according to you, the market is pricing into the current sp what is going to happen in 2012 ,you may well be right,overcompensation is a pretty common reaction when you get it so badly wrong,from just 12 months ago,6 months ago,3 months ago?
"Now the company does not appear to be sound and there are significant problems"
By sound, you are referring to debt both short and long term,that will have to be repaid ? BY significant problems, the difficulty selling assets in this enviroment?
It is hard to know specifically what you are talking about when you use terms like 'sound' and 'significant problems' bit like using terms 'beleaguered' and 'troubled' it is good propaganda, but does not tell you much.
"the share price and pref share price are negatively feeding off one another and have entered into what is called a "death spiral".This is very bad."
That is,badly written.To intimate that the sp and pref sp by negatively feeding of one another have caused the sp of both to drop to present levels,is ridiculous, and i can only assume that is not what you intended to say.
'death spiral',i will put that next to 'priced for extinction'.LOL
BBI Price at posting:
6.7¢ Sentiment: LT Buy Disclosure: Held
