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  • mardermj mardermj Mar 31, 2005 11:07 AM Flag

    Ohhh My F'ing God! This Says It All

    Absent Tysabri, we believe Uncle Fred's twelve short shares are doing well, as Elan effectively belongs to its debt holders," says Alex Shittle, of A.G. Edwards, in a March 31 report as he cut his rating to sell from hold. Elan, which has undergone a dramatic restructuring in recent years, has $1.6 billion in cash and $2.3 billion in debt, including $1.1 billion in debt due in 2008, Shittle says. (He doesn't own shares; he has a high school diploma he printed in shop class, his firm doesn't have an investment banking relationship with anybody of merit, they run screaming fromt the office if barring the door doesn't help)