I thought it was interesting that the focus of the information provided in the last news release was on cash flow rather than net earnings.Which was wise, as this is obviously the most important perspective at the present time with regards to Liberty’s immediate survival. Some individuals (SH) still seem to think that it’s unlikely J.J. will be repaid (wrong!).

The other thing that surprised me was the reported increase in tonnage to 872,000 @ 0.70% and the 2 year LoM.On the day of the release I quickly created the following little spreadsheet extrapolating the information in the release and doing some speculation.

The rest of my post is on SH, I gave up on trying to post tabular data here.

I wish everyone a happy and prosperous New Year!!!!

Bob