Create an Account
username: password:
 
  MemeStreams Logo

MemeStreams Discussion

search


This page contains all of the posts and discussion on MemeStreams referencing the following web page: Corning's Desperate Deal Destroys Value. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Corning's Desperate Deal Destroys Value
by Jeremy at 6:45 am EDT, Aug 2, 2002

When you're in dire straits, you do what you have to do.

There seems to be no end to the bad news, and that Corning's balance sheet, which looked so solid a year ago, is now shaky.

Needing cash, Corning announced "a glorified common stock offering" that has sent its shares down 50% in just three days.

Corning's problem is that there is no sign when its business will revive.

This offering shows that Corning has decided that a huge dilution of its current shareholders is unavoidable. It is not a good sign for investors.


 
 
Powered By Industrial Memetics