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.
Friday, May 29, 2009
R.H. Donnelley Files for Chapter 11
RH Donnelley (OTC:RHD)finally rolled over and declared the obvious. I have been making negative noises about this one since Dec 07. What responsibilities will the board carry. The major problem was too much debt. Who made these guys borrow so much money? What wild pipe dreams were pursued? Who will pick over the assets and feast like a financial vampire.