$TLRD Guys, even if you backout the GW impairment and losses on IP sales and asset sales, the company lost ~$2.5/sh. There is not a sufficient moat. Is anyone familiar enough with the capital structure to know who the borrowers on the TL and bonds are? It would be interesting if those both sit at the BK level whereby a portion of the TL is classified as unsecured in BK such that the bond holders have significantly more leverage. Thoughts anyone?