2 Large Investors cut Countrywide stakes

Just this week CountryWide put a brand new sign on a beautiful brand new building. I find that odd in light of cutbacks and divestitures of the magnitude I am hearing.
 
Quote from lar:

Just this week CountryWide put a brand new sign on a beautiful brand new building. I find that odd in light of cutbacks and divestitures of the magnitude I am hearing.
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Well sounds like something that was planned ahead of time. What matters now is how long this will be under CFC's control and ownership.
 
Amazing that CFC needed to drawdown 11 Billion in credit, followed by 2 billion dollar infusion, follow by todays 12 Billion dollar "infusion/credit facility"

for a company with 24 Billion dollar in revenue in 2006 (quoted from finance.yahoo.com - income statement), they have already borrowed to the tune of 25 billion.

doesn't bode well. Perhaps this stock lives in the 15-25 range for a few years, the companies best years are behind it until its gutted and renovated by some resourceful ethically inclined financiers.
 
let see if Mozillo puts some of that 450 mil he cashed out of in the last 2 years into buying the stock 50% lower than where he sold.....

Thats when it bottoms....till then.....keep laying it out


btw...read my earlier posts about CFC...stock is down over 25% since those days in early aug

http://www.elitetrader.com/vb/showthread.php?s=&threadid=100922&perpage=6&pagenumber=3

Mozillo's not stupid...he knows better then to throw good money after bad (although i personally believe they Can NOT let CFC fail)

btw...this was a Cramer Best of Breed stock also....another clown
 
Quote from 11Blade:

Amazing that CFC needed to drawdown 11 Billion in credit, followed by 2 billion dollar infusion, follow by todays 12 Billion dollar "infusion/credit facility"

for a company with 24 Billion dollar in revenue in 2006 (quoted from finance.yahoo.com - income statement), they have already borrowed to the tune of 25 billion.

doesn't bode well. Perhaps this stock lives in the 15-25 range for a few years, the companies best years are behind it until its gutted and renovated by some resourceful ethically inclined financiers.
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What might be amazing is you DISREGARDING that someone finds CFC as a company (distinct from the stock) creditworthy.

And....................at that magnitude.



Ethics? Where?
 
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