McLaren's 1st Half Results

[Ferruccio]

Cheib said:

Ferruccio said:

SSO said:

Cheib said:

Ferruccio said:

Investors bought a plan.
What’s McLaren’s plan going to look like?

Investors bought into a plan for Aston which didn’t really bear scrutiny. You’d hope McLaren’s would involve a credible deleveraging event.....until the can get leverage under control things will be precarious for them.

After the last six months, I would hope McLaren management has gotten the message very clearly on the need to deleverage.

Trouble is equity costs more than debt ultimately.

Ultimately equity becomes worthless if you can’t service debt.

Exactly; it’s last in the pecking order.