As a follow up post...Because they are not insolvent does not...

As a follow up post...

Because they are not insolvent does not mean that they are financially sound.

Insolvency is a technical term. It applies to a specific, legally determined scenario. It occurs at a definite point in time. It triggers certain rights and obligations.

Whilst this company is not insolvent, i do believe that it has a very unhealthy balance sheet. You can do just about any accounting ratio on that balance sheet and it will come up very ugly indeed.

Also, anyone else think that the directors here should follow the path of Macquarie and GM and cut their pay? At least the directors of Macquarie have created some shareholder value over the last 3 years