. . . for turning capital loss carryovers into cash. The company pays you dividends (funded by secondary offerings) while losing money on operations. Your capital is correspondingly reduced, resulting in a capital gain when you sell. You keep the cash. A nice scheme, as long as people keep buying the secondaries.
I'm not really sure where you got your information from but that's not what I saw in the last 10Q.
I believe it showed profitability for all of the segments with the exception of American Furniture which had an impairment charge of $42 million. When you look further down the 10Q you will come to the CAD page which shows how CAD is calculated. It shows that the impairment charge does not lower CAD. Even Staffmark, which had bad numbers last year is starting to look pretty good.
One thing I noticed was the increase in accounts receivable, goodwill and intangibles, and several other negatives in the quarterly report of September 30th. The rise in numbers can be attributed to increased activity in our companies as they were mostly showing larger revenues. Also there were several new entities brought into CODI's fold. The question is are the increases in these figures within line?