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10/05/08
07:29
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Glens states Valuations are not the most important concern. !!!
I dont think he has the luxury to say this with thoses massive debt levels.
All debt is based on a valuation of some sort. Banks arent charitable institutions.
Trading his way out in this market is noble but unrealistic.
So if he cant get the cash before May 30th the banks WILL take control and firesale before they lose more money.
A long term survival strategy will not save CNP if they dont pay up.
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