GR and the Board were busy trying to sell assets and raise new capital in early 2008. The sale of Bear Stearns to JPM at a huge discount in March 2008 sent a clear message to investors - patience may be rewarded with similar discounted assets. From that point on it was always going to be a near impossible task to raise capital or sell assets. If it were easy to sell assets (without massive discounts) - the banks would have insisted on more asset sales in mid 2008. IMO TP is entirely correct - GR has done a fantastic job.
CNP Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held