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Doral Financial Corp. Message Board

  • loveeyet loveeyet May 27, 2005 1:45 PM Flag

    $7B in Debt $60M Cash> Chapter 11 News

    With $7B in debt and cooked books chapter 11 is next bad news.

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    • Bingoman,
      Why the all caps?
      What the write in regular prose can be easily read...don't suffer from vision degradtion de to Viagara.
      Or is the CAP button locked up on your 'puter?
      Hey, your point is well put.
      GM will most probably never sell GMAC because GM is primarily into financial services and secondarily into making cars - at a loss!
      Whether it is BRK a=or Kerkorian or someone else like Blackstone or any number of distressed investors, let's see what happens.

    • bing_crosby_whitexmas bing_crosby_whitexmas May 28, 2005 10:04 AM Flag

      An ipo would bring no more of a premium to the value than a direct sell. the market will not pay a distressed company a premium whether in a public or private placement.

      rumors floating that berkshire is interested in gmac but he will never pay a big enough premium for gm to sell imo.

      if gm thinks they are going to get a big premium with an ipo they are dreaming. remember the markets know that gm is distressed that is what will dictate the market mood for the offering the same as it will for buffett to step in and pay just enough to get it off gm's hands.

      if gm sells gmac to buffett for little to no premium they will be making a deal with the devil and end up in bankruptcy when it is all said and done.

    • The only way that GM will probably let go og GMAC is via an IPO.....the money realized from this IPO could go towards paying off some debt.
      Plus GM will still hold a significant holding in the spun-off entity.

      Selling off GMAC to a bigger financila institution ie BOA or CITI will probably not be GM's first choice.
      But who knows? Time will reveal all...

    • I'm not talking about GM letting go of GMAC.

      GMAC is being structured to get a debt rating apart from GM's.

    • bing_crosby_whitexmas bing_crosby_whitexmas May 27, 2005 10:12 PM Flag

      I will be highly surprised if gm lets go of gmac, unless the premium is just unreal.

      doubtful anybody is going to offer them a substantial premium knowing they are desperate to sell off some assets.

      that being said gmac stays with gm.

    • If you look into GOM, don't rely on Yahoo. Stats are all wrong (at least as of today).

    • I agree with you about GM. In anticipation of GMAC getting a life of its own, I've been loading up on GOM since $19.60 about a month ago. When GMAC gets its investment grade rating back, it should pop to close to par value of $25. Meanwhile I'm getting 9% plus on interest.

      Like you, I also like NYB.

    • Price per share doesnt mean anything it is the fundamentals of the company that matter and the integrity of management and most importantly accounting.

      gm has all those things going for it where as doral cannot even get auditors to sign off on their financials so they can file their financials with the sec.

      scary isnt it???


    • GM price is not $10.....

    • Just, can not believ a f----- would put bs like that---The little guy not getting any help, and the same firms who were saying this is going to 50 and 60(when in 40s), tell us well now lets make it 14---These guys have discussed IO's valuation, almost every filing---where were these anals, just lets see if one of firms increases share, and says I WOULD BUY HERE, OR will they wait until 20.

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