I agree. However the recent news should really not impact the common shares. The company technically has ability to suspend the pref dividend for certain time. And I think they should have done that before to conserve cash. The fundamentals (good or bad) is still the same. All the hotel stock pretty much recovered but this one. The major issue is the size of the operation and management. That is why I think they should either sell them off or merge with a similar company.
Just moved to CT and now have to change the oil tank in my house for $2500. We really want to have Nat Gas but there is no pipeline here. And we are less than 20miles from NYC. Think about how much more demand there would be if they just offered Nat Gas to those who wants it. It will create jobs in US and reduce import from countries where we do not share similar values. This is one area I would not mind government getting involved. Add additional tax on oil heat to pay for it.