At DIN we have a company operating in an industry in turmoil, with a balance sheet that is leveraged at over 7x. In addition, we have part of the senior management team being fired. Plus, it is pursuing a strategy to create value for shareholders that has little chance of succeeding.
Last but not least, lenders want to make sure they get paid.
Or did I just describe the situation at LEH? Too bad DIN can’t go to the Federal Reserve for help!
One difference: DIN is not getting the same media attention for its significant stock price decline.