Blue Bird Sale Again

[davidbrady]

Hi Greg,

I think your neighbors paid something like $5M for it. We should have gathered up some investors, bought it and mothballed it pending recovery from the great crash of 2008. With such a paltry sum at stake, my guess is it was too easy for them to fold-up shop, auction off, and walk when times got hard. No staying power and little skin in the game.

Cerberus paid $165M for BB back in 2006. They split off Wanderlodge and they survived the crash, they also assumed all of BB's debt. The "IPO" gave them something like $255M cash with $235M of debt assumed by BB.