The Race to Zero

Implications: - Bad idea from the start. - Now what does one do?

Analysis: Technical Olympic has a market cap that is rapidly approaching zero.
Is restructuring Technical Olympic just a case of too little, too late?
Technical Olympic is a classic example of what not to do in a roll up: take a bunch of second tier operators picked up after the really good ones have already been taken, and do it at the top of a market.  That makes for really long odds of success.
It will be interesting to see what can be salvaged from this mess.  While Technical Olympic continues to bleed, it now is spending money on restructuring experts AND investment bankers 'exploring options'.