Doral warns that it faces cash crunch

Doral warns that it faces cash crunch

There are 2 comments on the Orlando Sentinel story from May 1, 2007, titled Doral warns that it faces cash crunch. In it, Orlando Sentinel reports that:

Doral Financial Corp., a Puerto Rico-based bank, said it may be forced out of business unless talks with a private-equity firm result in a cash infusion of at least $700 million.

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Louis Moren

San Juan, Puerto Rico

#1 May 15, 2007
I don't believe that there is such a cash crunch in Doral Bank.$625 Million dollars resolves the situation with the bonds maturing in July and that should not be a show stopper for them. Are they trying to lower the stock value pursposely ???
I will continue to buy every month as I have for some time now and take my chances(Dolllar cost averaging).

San Juan, Puerto Rico

#2 May 18, 2007
Doral makes its money generating new mortgages, packaging them and selling them. Now that the economy is DEAD in Puerto Rico, they really are in a pickle. Until I see signs of improvement in the Puerto Rican real estate market, I would advise against investing in Doral. I think they were saved only to be sold off a piece at a time. Only those with money to loose should speculate on Doral.

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