Player Avatar MattH42004 (29.76) Submitted: 6/23/2009 8:29:28 PM : Underperform Start Price: $18.11 ELS Score: -16.47

16%. Thats how much ELS just had to dilute its current shareholders by in order to provide some semblance of financial security and to "repay secured long-term debt and for general corporate uses." So how much did they get for their massive dilution...about 130 million...or about 8% of their 1.6 billion in net debt. Great job guys, for 16% dilution you get to pay down 8% of your ridiculous debt. Owe yea, and they are currently trading at a little over 10x their book value. I don't see this going very well...

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