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Napanee, Ontario | Bought them when I saw the March option chain had opened up for business. Did anyone else who was in these discussions get on board?
Crap shoot of course, but I've blown 3k on worse things. Figured it was worth a shot since i made out alright on a Feeder cattle call a month or so back. It's profit off that deal so if it doesn't pan out, whatever. Here's hoping this guy is right about a bk filing. CNH might have to step up with some heavy financing to keep it afloat, but it should tank leading up to that news - if this guy is even close to being right.
I checked out the books - pretty weak with the amount of leverage they are carrying. A 25% writedown in inventory will basically wipe out the rest of the equity and shape up for a huge qtr'ly loss. I guess it will come down to whether Deloitte forces their hand on the writedown. They should if they are making any material reductions on new equip sales prices. It would be pretty hard to sign off on them turning out 1 or 200 million $$ in sales at lower prices and leave the rest of the inventory at a different price...
Edited by OldMcdonald 8/26/2014 13:07
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Titan and long term outlook
