it's the looney tune here again. yes, i realize this company is $2B in the hole.
but, as i detail above, they also will have a ton of liquidity here (they paid for Enodis with a bond offering - - not cash.) A billion dollars in cash should see them through the downturn without having to raise any additional capital in a difficult funding environment. and as i stated above, the cash amount will soon be equal to an amount larger than their market cap.
have you been listening to the company's estimates lately? they estimate 2x debt-to-EBITDA by the end of 2009. that's a lot closer to (in fact, beyond) my recent estimates than yours.
as i recall, a few weeks ago, you said you would buy MTW when it got down to 7.50 or so. how much have you picked up?