Many posts seem to fret over the div suspension, debt restructure etc...There is no liquidity issue here in my mind. The Company has virtually no debt maturing in '09 and '10. If management is buying back the company debt at 50% discount I applaud the use of every penny for this purpose. I only wish I could buy back my Mortgage at 50% discount. Owning GKK is the closest I'll come to that.
Scheduled debt repayments are relatively light in 2009. However, the lines of credit can be called if terms are violated. Thus, it would be immediately due if a default occurred and the lenders took a hard stance, and people are not sure GKK has sufficient cash to withstand that.
That is the concern. I don't think it will happen, but we'll have a better idea where GKK stands when the financials are released.