Our organization also are people “who know” and we believe they are way in over their head right now. What’s their excuse for the very sloppy way they handled the Atlantic Yards project?

Does anybody really think it will ever get off the ground? What about the money they’re losing on the nets? Anybody ever bother to read reviews of what residents think of these 95 percent full apartments? Especially outside Ohio? Check out Pavilion reviews in Chicago.

“When they became aware they we were attempting to get their largest shareholders to bail out, what they do?”

It should be…

“When they became aware that WE were attempting to get their largetst shareholders to bail out what did they do?”

Never have and never will like these animals. However since the economy started struggling, they’ve gone from bad to worse.
They’ll cut as many corners as possible to try to stay afloat. IF they’re trying to stay afloat. And, that’s a BIG IF!

When they became aware they we were attempting to get their largest shareholders to bail out, what they do? They sent us a list of the rest of their shareholders and dared us to call them too. That was last September. Between September and November their stock went from 40-3. But instead of trying to negotiate a peace treaty with our organization they continued to ignore us.

Are they expecting a government bailout? Perhaps they’re putting a lot of faith in their campaign contributions. I hope too much faith. These people make Enron seem like Mother Therisa.

Thanks for taking the time to read and leave a comment. I think I’ve made it pretty clear – doing financial analyses is not something I, you know, do. Except for my own household budget etc. I’m fascinated by it, but I do not have any formal or even informal depth of experience in it.

My post focuses mostly on the fact that certain information became available that could sound very damaging, even if it’s inconsequential, but is about a corporation of great importance to NEOhio.

I still stand by my question: why did Forest City debunk Morningstar sooner? Why didn’t the PD have anything about it in their paper before Forest City finally objected?

If you’re telling me it’s because the PD business people knew that it was bunk, I suppose that could be said but I still fail to see how it isn’t NEWS that an entity like Morningstar is using descriptions like “worthless” in regard to a corporation like Forest City. That seems like big news. Which SHOULD be debunked.

But not more than two weeks later.

I guess the point is, in hindsight, it was an error to ignore the Morningstar comments. I agree. However, as an analyst, i can see why they did not feel they would even comment. Remember, they had just had an extensive earning call on 12/05 and answered all kinds of extremely detailed questions, I think this stuff looked remedial to them. I suspect they will be more proactive in future, because perception does matter.

That’s all I’m saying. But I really appreciate your knowledge.

From the Analyst Report: “At nearly 83%, Forest City’s debt/total gross PP&E is much higher than peers’.

Which peers? How does this compare to past levels? What is the metric debt/PP& even relevant?

With EBITDA/interest expense expected to dip below 1 times

Who expects it? What assumptions? Right now FCE/A is generating roughly $2 per share in FCF (after paying all interest!)per the last conference call. This includes stable sources like miliary housing, government renters etc.

during the next three years, Forest City could face severe financial distress, since it may need to refinance debt at ever-increasing interest rates while operating cash flow declines.”

How is this different than any other REIT? Did the analyst notice that the rates FCE/A has been getting on refinancing have actually gone DOWN.