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Mgt said in conf call that the "leasing portfolio is improving."
Is a 300% increase in delinquency an improvement? Leasing past dues went from $349K at 2Q08 to $1.039MM at 3Q08. Watch the delinquency migration as they will have BIG losses in 4Q08 and 1Q09; well into 2009. There are another $2MM in losses here before quality stabilizes. Sentiment : Sell Rating :
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39/Male |
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