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IPFS News Link • Economy - Economics USA

Death Spiral Financing

09-25-2007 • Mish Shedlock

Homebuilder SPF canceled its small dividend and announced a convertible debt offering that encouraged shorting. This is an act of pure desperation. Lennar reported a disastrous quarter with sales down 44%, more job cuts, and a loss per share of $3.25

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Reported By Mike Shedlock

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