Anyone who cares about DreamWorks should listen to the "restructuring" call taken with analysts and the press.
Listen closely to Chef Fazal squirm and equivocate when asked questions about the studios ability to deal with the $290 million layoff cost and future negative events. DWA already managed to unload $300 million of ass-wipe notes to pay down its last string of losses and to try to shore up its line of credit. (Ann got 4 million of those dollars!) This $400 million "revolver" already has $200 million tapped out of it. But don't worry! Fazal tells us it has a $50 million accordion that can be drawn on if times gets tough. There is also $100 million in unencumbered assets (this means the pretty campus) which can be leveraged out. Fazal is going to need an accordion and a little monkey with a tin cup which will come in handy as he plays it on Hollywood Blvd. begging for cash. No one has liked what he has been cooking so far, with all previous suitors dumping their trays in the commissary after tasting the books. Maybe half a billion in additional debt is just the special seasoning that is needed?