Description

It's not hard to tell that it's debt that's been killing this company. A solution may be in sight. Lehman may be putting together a group to buy the consumer finance operation, and assume 2.2 billion of debt. I paid $5 on 5/23 and have a five-year target of 45. That's based on pojected 2004 EPS of 2.79 at a 15 PE. Stock moved up 20% yesterday on unusually high volme.
The biggest shadow over this play is a class action shareholder lawsuit. I do hate those, no-one but the lawyers wins.

Catalyst

Sell of consumer finance unit, and prevailing in the shareholder lawsuit, would put this company back on firm ground.