God, I'm so fed up that the only news Yahoo reports on this is about Lightsquared, which has nothing to do with HRG other than Falcone might be spreading himself too thin between the two.I hope it just mercifully goes out of business before Falcone puts any of HRG's money into it.
Aside from all this Lightsquared stuff. Anybody have a handle on what this company ( HRG ) is worth and where we are going ???Thanks in advance..
I broke down the basics in another post:HRG assets:SPB stake = $820mFGL insurance assets acquired = $480mCash = $500mTemporary equity from preferred shares = $300mHRG liabilities (SPB debt not included because it's factored into the SPB stake above):10.625% notes = -$500mPreferred shares = -$400mHRG market cap: $600mHRG value: $1200mThere have been a couple other articles that have basically concluded the same thing:http://seekingalpha.com/article/319032-harbinger-group-a-fifty-cent-dollarhttp://dealbook.nytimes.com/2011/08/16/is-harbinger-group-the-next-berkshire-hathaway/