Re: Central Oregon & Pacific Railroad
Author: AC
Date: 10-15-2008 - 21:02
Gotta love the rumor and BS on Altamont at times. Coal use banned. Wow. I'm still crying from laughing so hard.
Anyway, back on Earth....
CORP sold to pay down debt? Difficult. Just as someone else pointed out, to whom? The only hope at this point would be to a public agency, since the money isn't nearly as dried up in state coffers (yet). It could also sell to a deep pocket investor who thinks longer term, but I kinda doubt that we're going to see Warren Buffet buy CORP.
Its more likely we'll see additional push to abandon and liquidate, since scrap values are still decent, if not as high as they once were.