i agree. This financial engineering of using expensive secured debt to retire cheap long term debt while moving up maturity dates significantly could back fire...its risky, unless they can go in the open market and buy bonds at a significant discount...I'm not impressed at the terms of the tender offer to bondholders at all.
You scolded the analysts for there price targets in November! 3 to 5 if I recall ! Well your there . You said the share buy back was a gun by the bed to be used if things got stupid! What's stupid ? 4 ? 3? Or is the buy back just talk?
that does not matter. Kodak invented digital camera...they went bankrupt. What investors are seeing is massive cash burn on litigation expense, that so far as yielded very little. That could change, but so far they cannot get a win, and litigation went from last resort to there primary business model.....at least for now. Battling the richest companies on earth in court is a tough way to make a living, and the stock price reflects that.