Scott
So I was correct in an earlier post about legal issues regarding loan negotiations.
If I'm reading your post correctly you're implying that management made a deliberate decision to begin negotiaitions when they did in order to avoid disclosing potentially poor numbers. While this may indeed be the case I don't see that as a possibility.In fact CLL is the perfect sell in May go away stock that usually dumps prior to earnings anyway so poor number wouldn't have made a difference.
Another and more likely scenario as that the window to effectively renegotiate the debt is very narrow and that the window openned before they anticipated. There's many reasons negotiations started early and in most cases the financial companies involved have more control than companies lookind for money. My guess is that they wanted to get debt restructured in advance of the end of June when QE2 ends and many predict a double dip to start.
