Looks like they are really trying to dump the groups that are losers. Lots of work to do. The delisting still is in play down the road. Any thoughts as to turn around, back to $1.00. I might even listen to past employees if they are rational and not vindictive. Best to all!!
As a previous employee, I think there is actually value in these segments. Although I share similar bitterness as many others, from a realistic perspective I believe that it is the bank's objective to get their debt repaid which will cost shareholders segment synergy value. I think there is no "corner" to turn and that it will be a gradual decline until someone swoops in and makes the purchase of the overall organization. I have heard that Coskey is looking to get out (he has done that once before already) so why would he care and be committed to rebounding this. My guess is that like PNC/Regions bank, he is looking to get out.
As far as $1.00 is concerned, I think its possible, but not probable. This recent sale is cutting the company size (in terms of revenue and employee count) substantially not to mention the fact that ENG probably still will carry any legacy liabilities. Looks like this tough road is not going to get any easier until the company is sold to a better management team.