I don't know if this is good or really bad. It seems good on its face. Does anyone know how he might being trying to set up an equity play for 2015, assuming that is what he is doing? Thoughts?
As usual, you have no idea what you are talking about. People have many reasons to be here.
Well the fact that 99% of the posts deal with Lee common might e a hint. The fact that the stock symbol is for Lee commom might be a hint. And the fact that the stats are for Lee common might be a hint. Of course this is all based on logic, a real area of weakness for you, as you have demonstrated on numerous occasions.
"Obviously they won't be able to repay the debt maturing in 2015 without refinancing it"
-Agreed.....I think you would concur that the TERMS are of paramount importance. Here are the facts, recent BK, Large balloon maturity, Minimal principal reduction.
"The principal will be less than it is now"
- Marginally yes.....enough to make a serious difference in their cost of debt.....no, not for some time.
"The company will seek the best terms"
- Of course they will.....every management team seeks the best terms possible.....its their job. However, the MARKET ultimately dictates terms ....not management.
"the" debt holders are may change quite a bit in 2015."
- No doubt there will be some turnover in terms of who holds the debt.....there is turnover regularly, this debt trades hands all the time......it doesn't require a maturity for the debt to change hands. Although, I agree that a maturity is an event which will cause above average volume. With that said, I think that current debt holders recognize a good thing when they see it and assuming their objectives are constant.....they will continue to maintain a position. 15% yield if purchased at par (better if purchased at discount), a stable cash- flow producer with the ability to service debt......very little likelyhood of debt getting called early.....ya I'll take it.
Walt/stockslayer/gluck, (one person) we love the constant back and forth and all the funny insults you guys keep doing, and we don't even care very much if your really just the same person...
Remember when stockslayer said it would be "impossible" for one person to make you guys up, and the whole New Jersey law firm name idea....Its comedy gold boys (one boy) gold!!!
Ahhh, you guys (stock, Walt, Gluck, 3 ids =one person) took some time off, we missed all the good natured hijinks, and even more, the hard hitting stock analysis....!!! (and its ok, we love to be fooled!!!)
Keep up the good work boys (one person) and maybe bring back Stockslayer for an encore performance....