The message you referred to recently? Looks like you and this gentleman were in violent agreement.
C K if you’re talking about the share price , the company’s interest in the share price is the main problem with the share price ,they are not interested in protecting it for a reasonable reason that does not bode good for the stock holder, unless they are doing open market buy backs. Survival is not the question, the question is who owns the company when the industry stabilizes. They just received a 90% book value return on an asset, and that is not a fire sale, they recovered to meet covenants at 4.7 before their refinance new covenant 6.0. The recent write off is designed to cover a profit, EPS is the easiest profile element to manipulate up or down, EPS is the only element that does not show improvement, possibly being manipulated. No need to do a write down this quarter, when the sale is going to require an adjustment in 90 days. I think the company is being set up for someone else to own it other than private stock holders. This is a windfall profit based business that is surviving with no wind fall. I think Carlos would like to own more of it when the windfall comes. as far as POSITION the debt to ratio .33 the book value to pps , the revenue to share , the cash flow are all in the ridiculous range . , If I were CARL ICHAN i would own it in the morning, It's just too small a deal to get his
WOW...to say "you believed chapter 11, ESPECIALY AFTER THE SALE was a better option," is a pretty heavy statement coming from you! So do you feel that the co is off life support for now or it's very survivability still in doubt?
Looking ahead, doesn't MEA face some pretty serious headwinds? I mean, with all the recent shutdowns, closings, discontinued operations..etc; aren't we facing more write downs, write offs, impairment charges...etc., etc. and the fact that the steel industry is gonna probably suck big time in 2015 (I mean Good Lord, go look at X, and AKS if that's any indication) don't you think now that BK is a distinct possibility with this backdrop??
Ok thanks, however didn't last Friday's vote leave a bad taste in your mouth? And what ramifications to you see from that (if any) going forward?
Well they'd better hurry up.....NG is fast approaching the sub $3s again!!
Thanks Hattie, hope you're right however, this stock is trading like it's got BK written all over it. You're no doubt a very intelligent lady, however I just hope you're not one of those many hopeless optimists out there.