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Bankruptcy is usually a sign things aren't going in the right direction, but is very different than 'going down the drain'.
in point form....
1> debt service was eating all our cash
2> the product of bankrupcty will be a company with a new debt and capital structure
In fact lots of companies come out of bankrupcty with a very good balance sheet which gives them an edge, for example some of the telecos and airlines that have come out of bankruptcy in the last 5 years.
but that is not what this thread is about...
hal, I wrote you back. I was in south africa last week and came back to 2700 messages in my inbox. I must have deleted your message as I deleted all the spam.
WG, I'll drop you a note next week.
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