I had not considered 1980's recession and Banks reaction to the situation back then.
Do you think cdr belongs in the same group as cnp,abs,afg?
He implies that the banks are not facing up to reality, that some how the market will be so much healthier, without these companies weighing down the banks,that the banks are hiding these dirty little secrets.
He is Not someone i would want to share a life boat with.
I notice at the end of the article he grudgingly admits that cdr does make money
'On a bright note, Commander's revenue for the last half was $458 million and that's a nice whack to have when you are trying to stem losses and turn around a business. Still, burning $100 million in operating cash flow, with no large assets to sell and debt 10 times your market cap … it is not a great time to be facing a difficult retail climate.'
Talk about a back handed compliment.
CDR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
