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alstry (34.92)

Can Analysts Read???

Recs

10

March 25, 2008 – Comments (2)

Zelman continued, "Reading between the lines, we have heard in recent months that SPF has focused on selling many of its top land parcels in markets such as California in order to generate cash and pay down debt.

http://www.bigbuilderonline.com/industry-news.asp?sectionID=363&articleID=676556

Can anyone tell us what lines IVY ZELLMAN is reading between?  We just learned from today's press release that SPF did not pay down any of its revolver debt and only paid off about $20 million of discounted senior debt while drawing down over $150 million of cash. 

http://biz.yahoo.com/prnews/080324/lam040b.html?.v=1

If it took  $150 million of cash to pay down $20 million of debt, where the heck is all the money going from selling off "top land parcels."

Either somebody is lying or Ivy can't read.  The choice is yours.

2 Comments – Post Your Own

#1) On March 25, 2008 at 4:34 AM, DemonDoug (81.27) wrote:

Alstry have you emailed Ivy?  She made a name for herself for the credit suisse reset chart, and also for standing up to the builders, so she has at least some credibility in my eyes.  If you have serious concerns with her analysis would love to see you email her and what her response would be (as opposed to just ranting about it on a blog).

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#2) On March 25, 2008 at 7:54 AM, alstry (34.92) wrote:

Actually, it really is not concern.  This is mostly just for fun and discussion.  The analysts get paid to analyze.  We get to analyze the analysts for free.  If you think she has lost credibility, tell us why or you can eMail her. 

When a professional athlete has a bad game, I have yet to eMail the coach or owner.  I havn't even done it if he was on a cold streak for a while. But my buddies sure as heck rant about it at the bar on Monday night.

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