Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Thursday, May 18, 2006
Bombay Downward Spiral
The Bombay Company (NYSE:BBA) sneaks out a very late press release Wednesday evening with more bad news and invites everyone to the conference call Thursday morning. Mitigating bad news with a schoolboy trick to avoid investor questions. Declining sales and a huge inventory mean negative cash flow and increasing reliance on bank debt. Is there even time left to save this one?