Your comment on Marc living in a "dreamland" may be on target. I was sitting at the table with Bruner and a few others this morning and took away the distinct impression that he does not lie dliberately but is "blindly optimistic to a fault". He definitely needs someone to follow him and bring him down to reality as required.

He can surely contribute to the Company but he surely cannot control it's destiny. I hope the revamped BOD can keep a tight leash on him and make use of his negotiating skills. The operating and administrative part of the Company has to be controlled by others or Falcon will spiral into oblivion.

If the BOD and Burlingame do not understand Bruner's beta, then heaven help the FO investor.

By the way, I believe the downside risk at these levels is minimal.