evans@mhuxt.UUCP (crandall) (08/25/85)
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