Last month, the New York Stock Exchange suspended trading on BearingPoint because its stock price had fallen too low. Yesterday the price was 3.45 cents a share. Alejandro Lazo writes in today’s Washington Post:
Jamie Friedman, an analyst with Susquehanna Financial who dropped coverage of the company in recent weeks, said that while the company’s government contracting business has held up in recent years, its commercial side has suffered from competition overseas and managerial missteps.
Now … this is kind of interesting. It’s like, oh, rain on your wedding day, or ten thousand spoons when all you need is a knife. BearingPoint, of course, was hired by the Bushies to structure rules for a free market economy in Afghanistan and Iraq, as part of an All-American pre-fab Galt’s Gulch program flown in on a C-130 for the eagerly awaiting locals with all those flowers in their hands.