John Titler Quotations

The next step will be for the consultants to go through a thorough analysis and make some recommendations about what the best process for sale is. Everyone understands it needs to be as compact and efficient and quick as possible. At the same time, it has to be appropriate. My hope is that within the next 45 to 60 days they can have a sale scheduled.

Everybody's thrust here was to maintain the thing as a going concern and have it be sold that way.

Our goal has been to get this thing sold as a going concern, whether it's a local group or someone else, to try to assure the company would stay there and the jobs would stay there. Although we can't absolutely assure that, it would be foolish to buy that any other way.

Essentially, the whole thing is literally a refinancing mechanism. It's just pure plain and simple, the company needs to be recapitalized.

We intend to go ahead and honor the labor contract going forward until the assets are sold. The active bidders at this point --- two I know of --- both intend to go forward with the union. This is not in any way intended to abrogate the union contract and get away from that at all.

This is no fire sale. There's a great backlog (of business), the workers are there and you have the building. It's worth more as a package than it is as pieces. ... There is no question that it is a viable business.