tag:blogger.com,1999:blog-6321089372587128676.post5906034107173428344..comments2009-07-23T18:00:44.575-04:00Hunternoreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6321089372587128676.post-86224002535775897842009-07-23T18:00:44.575-04:002009-07-23T18:00:44.575-04:00Where did you get $450 in EBITDA in 2009? The 8K indicated $120MM and $441MM in EBITDAR in 2009 and 2010 respectivelyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-52039989102483837812009-07-23T12:24:19.106-04:002009-07-23T12:24:19.106-04:00Googd analysis except you neglected to mention cap exAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-74893884683263768422009-07-14T00:02:51.481-04:002009-07-14T00:02:51.481-04:00This is a great suggestion Hunter. Both Lear and Johnson Controls are great companies in a terrible industry.<br /><br />Have you checked the situation with Wescast? No debt but it is trading at distressed/bankruptcy levels. They are a great auto parts supplier.<br />Have you seen anything like this?PlanMaestronoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-58718346092303888472009-07-13T09:24:21.009-04:002009-07-13T09:24:21.009-04:00Can you please walk through the math to get to the 32%. Its 15% warrants and 10% management dilution. How does this get you 32%?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-74599265642982867232009-07-10T18:37:56.750-04:002009-07-10T18:37:56.750-04:00The 32% assumes management dilution + exercise of warrantsHunterhttp://www.distressed-debt-investing.comnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-49747199702182404852009-07-10T16:38:49.616-04:002009-07-10T16:38:49.616-04:00Nicely done, both the analysis and conclusion. Thanks for the heads up and all your work. I am going to download the 8k and go over it.Kevin Rogershttp://www.blogger.com/profile/11779136804519264595noreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-28214764174616621452009-07-10T15:53:15.292-04:002009-07-10T15:53:15.292-04:00hows about visteon??Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-76661591535034194532009-07-10T14:07:58.663-04:002009-07-10T14:07:58.663-04:00I am not sure how you are getting to 32% equity ownership for the unsecured debt. Based on pg 130 of 8k it suggests that the unsecured bondholders would get 29.9% which would be 25.4% assuming full mgmt equity grant. What am I am missing that gets you to 32%?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-87170131853213361822009-07-10T06:21:41.574-04:002009-07-10T06:21:41.574-04:00great post...Anonymousnoreply@blogger.com