I have a tough time buying into the notion as put forth by Hero's CEO that Hero's current woes are the result of "cyclic downturn". If HERO was having a rough ride because of a recession like 2009, that would've made sense. But look around, American economy is at the best it's been in years, why are HERO and its peers doing so poorly? I'm of the opinion that some fundamental sea change has altered this industry permanently. And when not if the next recession really hits, it may well spell the end for HERO.