Monday, November 10, 2008

DBSI has a blog were it will post information:

Here is a section of today's DBSI blog post announcing the bankruptcy:
DBSI's businesses have been significantly impacted by the recent turmoil in the real estate financial and credit markets, the general deterioration of the economy and the historic declines in the stock market. These problems were exacerbated recently by the actions of the various parties and, in the last week, the commencement of legal actions that DBSI submits are without merit and only serve to impede DBSI’s efforts to effectively address its financial difficulties.
This paragraph reminds me of John Belushi's famous line of excuses to Carrie Fisher in The Blues Brothers on why he could not marry her. What does the stock market have to do with real estate? (And why does only six weeks of stock market turmoil trigger more than 140 bankruptcy filings?) What were the "actions of the various parties" and who are the various parties? What is the real estate financial market? DBSI is blaming everybody and everything for its problems. I would expect better writing and more clarity from a middle school student.

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