Face it kids, going through life with a strategy of diversifying then selling the diversification and taking on huge amounts of debt is no way to run a physically and apparently mentally landlocked business. The Board of CBB has been out to lunch for a decade, and their management just cannot seem to find the way or the time to figure out how to leverage what assets they do have to make some money. Sell it. This business could easily be absorbed in a bankruptcy. They have proven, and are proving, that they cannot make it work by themselves, and no one will buy it with all their debt.
Anybody still bully on CBB? I have been saying for months that after spinoff, this would be a dog. There is nothing here. Jack soaked it dry, left pile of dung for his successor, and will reap a huge bonus for successful IPO of Cyrus. Double digit millions for bonus. Amazing that a couple of weeks after JC retired, results were so bad. Board is and always has been asleep because they get their huge payments for being on board. Now JC has joined that party. Don't think bankruptcy is in immediate future, but will probably sell off wireless business, which leaves landlines and fiber optics business, which is nothing. Am guessing in 30 days we will find out big investment houses have bailed out. As well as JC.