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Originally Posted by Dragoneye
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Not publicity crap. Much of the third quarter "loss" is part of the Chapter 11 restructuring. At the end of 09 they had almost a third amount of debt and more than double the amount of cash on hand than before the bankruptcy.
They HAVE been paying off the loans, mostly because they have been bringing in profit that they can redirect to their gov't creditors. They WILL pay off the loans, and they WILL be profitable in 2010, barring some sort of natural catastrophe that destroys the planet.  |
So you're saying without the costs of restructuring, they still posted a loss... so where is the money coming from to pay back the loans? It's not like restructuring costs don't lose real money. If they spend that money and don't make it back, it's a loss. They are 3.4 billion short of where they were at the beginning of the 4th quarter. Even if you don't count the restructuring costs, they still posted a net loss. You can't pay back loans with no profit whatsoever and losses to boot. So again, where is this money going to come from?
I'll believe it when I see it.