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  • ethison ethison Sep 11, 2008 7:09 AM Flag

    To Betsy and Daniel Cohen

    I don't see a $75MM restrictive pool on the balance sheet. I'll look again.

    $50 to $60MM in unrestricted cash doesn't seem like enough to buy back all of the shares that Yankee wanted to buy. Oh well, he seems very confident that his plan will work, so I guess we should go for it.


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    • I'll look to. I didn't even think about it until I noticed something in the one of the statements that suggested that the $75M was in fact in restricted cash, but I don't remember where. I note here that last time I looked there was still hundreds of millions of restricted cash.

      Otherwise, you are right. $60M is not enough to execute Yankee's buyback.

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