Articles for: AXS

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Five dollar and to oblivion

Tom Scollon 22 May, 2009

How can it be? I speak here of GTP. They have gone into administration in the last few days. Administration is like Chapter 11 in the USA – it is a last gasp before the final blow is dealt. It happens generally because a company has significantly more debtors than it has cash. This happens because usually its model or management or a combo of both is flawed. And for shareholders and lenders it is like throwing more good money after bad and one day comes when financiers say enough is enough.

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