Hello rewind the items I noticed include
- need to reduce debt further by $304 mill by June 09
- critical that bank has support to June 2009
- loss of $1731.6 mill if you add back adjustments due to restructure the profit would be $29.2 mill
The key here is the bank has given support obviously because they have reduced debt and it is not in their interest to force AFG.
- the executives probably don't care if the share price goes down further so they can issue the proposed options at a lower price
Hello rewind the items I noticed include- need to reduce debt...
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