The company is suffering from a combination of industry issues of weaker volume and high levels of bad debt, aggravated by weak cash flow.
More Quotes from Frank Morgan:
Art led the way for me to recover. He got out of prison before me and started traveling all over the world before I did. He showed me by example that it could be done, and I'll always love him for that.Frank Morgan
I'm eternally grateful to the penal system in California for saving my life.
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It's my fault in many cases because I don't initiate the contact to talk with a lot of other musicians.
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I was an admirer of Art Pepper even before I went to California, when he was still in Kenton's band. His playing is joyous, great.
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Some analysts seemed to think the company would have an upside surprise, ... But they reported right in line with what the consensus was.
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The good news is that with this they've cleared the plate of most of their legal issues and can now focus on operations.
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Albert Einstein
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Francis Bacon
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Felix Adler