Payme...It appears months later you still have no idea how markets work. Sorry there are no fails in this stock.
I believe they have a deal with Citi for Citi to take the shares, but these guys are "waiting" for a better price. Nver gonn ahppen with this overhang. When the stock clears you can buy with both hands.
No renegotiation of the lease,, WIN is locked in, and yes they will cut the div to zero first before they default.
They have no choice but to sell, runing out of time or they blow up reit status...so this downward spiral is self feeding
I don't know if its correct, but a lot of the time it becomes self fulfilling. Lending dries up. The CDS have done nothing but rise the past 4 months. Win can't run their business with CSAL so even if it files, I don't think they reject the CSAL lease. I believe the CSAL lease is senior to the Win unsecured debt. But in this environment its shoot first ask questions later.
10 day volume up 50%, usually the sign of a short to medium term bottom.
But, tax selling will keep pressure on this for a few months.
They short at 21, payout .60c and take it down to 17.5...who won again..Sounds to me like a quick 15% gain for the shorts. What worries me is the CDS of WIN shows nearly a 100% of default
Win losing a bundle on their recalcitrance to not sell the csal shares already, and they are running out of time and the markets know it, so it feeds itself. The Win CDS showing almost definite default within 5 years. the question is will they reject the CSAL lease. I bet not, so CSAL would be the buy, however...rough road ahead for all
Raging, Likely in the first day orders and filing itself that there is no equity left. The big writedown last 2 quarters took book equity to 50c, and after Q3 will be negative. If the banks are looking for a way out and bondholders will be doing a backstopped rights offering, my opinion only, then equity will get warrants and the right to participate in the rights offering. The warrants will be struck at 1.3 billion or higher. The Bankruptcy Judge will not allow an equity committee once book value goes negative. I think they take a massive writedown again, my opinion. And yes maybe Terry pulls a rabbit out of something...
Sure...Thanks for the advice. Keep up the good reporting we need some good Journalists out there. Last one was Tim Russert. RIP
Really Crabby,, I've been 100% consistent and 100% right. Bondholders are teeing this one up as we speak. Company has hired council and the question now is whose gonna put up money to take out the banks revolver? I told you guys I sold my bond position after I saw the banks selling their Swift holdings. Bonds down over 20% since then,,,the smart money follows the smarter money. Something you as a common holder haven't gotten the message yet on for some reason. ALways always know where the debt trades of any low priced common you play in. Investing 101, avoids losses. Always always know where the bank debt trades if you buy bonds of a small priced company. Investing 301. Cutting losses investing 001. When they file a new money plan will you eat your hat?