r u crazy?

So on face value the announcement does not read as well as we all wanted but are we really finding out anything we did not know before?

So during the worst financial crisis since the great depression and severe asset value write-downs BBI did this:

"There have been no breaches of any debt covenants throughout the BBI portfolio
during the year."

"The statutory reported revenue and other income from continuing operations for the year ended 30 June 2009 was $1.41 billion, which represents an increase of
$202 million (16.8%) from the prior year"

Up until a few days ago we had nothing BUT debt and asset sales that were not eventuating as required. The bottom line is we have this:

"The transaction mechanics, including any conversion of hybrid securities and the basis on which it would occur, have not been determined"

And everyone sells! Just remember a key point here, BBI wanted to get an extension on the trading halt.

I think they are being incredibly smart and from a legal point of view need to explicitly state the risk given the issues with B&B.

Just bought 100,000 more today. I ask if you are crazy for selling out now after BBI surviving the worst part of the GFC and the collapse of B&B. There is interest now and we all sell?