The only reason this stock isn't already $20 is beause of the constant "buyout rumors" that get floated around. I expect another here within the next week. At some point buyers will stock taking the bait and a realistic valuation will stick.
Hopefully they can make some board and management changes.
I don't think so. The reason its not 20 bucks is that it has fallen from $140...and there are always going to be bottom feeders all the way down. Just like the report released today, its all about refinancing the refinanced debt that was previously refinanced. They are going to try and hang on until things get better. Remember, this company was once called Jim Walter corp, went into bankruptcy and came out as Walter Industries, sold off everything but coal and gas which they tried to sell and could not get any takers, change again to Walter Energy, went to the moon as those commodities soared with Hurricane Katrina driving nat gas to over $16 and china driving coal to the moon......and now with gas in the $3's and china getting met coal from africa and mongolia, and walter borrowing more money at over 9%....well....we can see where its heading. No reason to stop at $20.