tag:blogger.com,1999:blog-4815867514277794362.post3427042434171257714..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: Steve and Barry's and what the #$%@#% is GE doingJohn Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4815867514277794362.post-29947563089930344622012-07-24T23:47:00.350+10:002012-07-24T23:47:00.350+10:00The Kinney Drug said Asset-Based, not sure if you ...The Kinney Drug said Asset-Based, not sure if you were confusing asset-backed with asset-based.<br /><br />If so - asset-based for Steve & Barry's was secured by inventory assets to the best of my knowledge.<br /><br />The inventory is given an "Equity Bid" appraisal by someone like Great American. Great American would buy the inventory upfront and payout GE and personally liquidate it - taking the risk on themselves.Anonymousnoreply@blogger.com