If you'll notice his post is over a year old. There are other interesting things going on at Lear now though. They've teamed up with Wilbur Ross to form the International Automotive Parts Group. He has formed groups like this in the past where he buys up bankrupted businesses (Coal,Steel) that have removed shareholder equity, removed labor contracts, and dumped the pension obligations onto the PBGC. He then takes the businesses groups them together and sells them. ISG was merged with Mittal for instance (for about $4.5 billion, I believe). It was primarily comprised of Bethlehem steel, Wierton, LTV, Acme, and Georgetown steel. Bethlehem was run through the Bankruptcy washer by Steve Miller who is currently running the Delphi Bankruptcy. They have already acquired parts of Collins and Aikman, I expect they are going to get Dana and Delphi as well. There are many more to choose from. The question is whether they will run Lear through the Bankruptcy process. As far as I can tell W. Ross doesn't like to share with stockholders any more than he does with employees, leading me to believe he will. If that is so, it seems like it would be a good stock to short sell. If you look at the leap options the puts are very expensive all the way down to $5 a share. This also seems suspicious to me. This isn't exactly investing as much as gambling but then again this is exactly what he's done twice in the past...
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