So, this article is from the New York Times a couple weeks ago. It gives some great information on the New York project.....Lord knows XIN needs the press. I personally think the $300 million in Revenue the company predicted in the most recent Earning's Call is conservative. Anyway, without further ado:
Who needs saving? You guys talk about XIN like it's on the verge of bankruptcy or something :)... I maintain that this would be a great company even without the NY thing.. in the grand scheme of things $60-100m in profit isn't going to make or break this co. They've made that many times over. You guys should be happy no one pays attention to this co. Be happy to collect your 5% div... own something at 30% book, and pick up more shares while no one notices. For a true long term holder, the best thing that could happen here is they delay this project a couple of years or don't even do it at all. Reinvest those dividends at cheap prices and let time, profit, and buybacks work their magic.
Warren Buffett expanded on your thought process better than I could ever hope to. I think this is about the best explanation of what you're talking about that I've ever found (I have to re-read it regularly to fight my natural tendencies):