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From: evans@mhuxt.UUCP (crandall)
Newsgroups: net.micro,net.micro.cbm
Subject: Commodore's financial health?
Message-ID: <1106@mhuxt.UUCP>
Date: Sun, 25-Aug-85 09:01:16 EDT
Article-I.D.: mhuxt.1106
Posted: Sun Aug 25 09:01:16 1985
Date-Received: Mon, 26-Aug-85 01:23:32 EDT
Organization: AT&T Bell Laboratories, Murray Hill
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Xref: watmath net.micro:11681 net.micro.cbm:1650

What is the current status of Commodore? The 8/22 WSJ had an article on the
most recent wave of layoffs there (another 700 people) noting that the
company will probably take a $80 million loss in the quarter that just
ended and may be in technical default. The person interviewed at Commodore
said they weren't in default because they haven't posted their losses yet,
but several investment types felt they were (in default). Commodore's filing
with the SEC was missing the pages that would describe the losses and the SEC
is looking into the issue.

What does this mean? If Commodore defaults on its loans I would imagine that
the banks could sell it off or pump in more money and hope for huge sales.


			Steve Crandall