Anyone here following PHI, Inc?

The company is in trouble.

There's the issue of the Bonds that you already know about.

They have tons of helicopter assets that they can't sell because nobody is buying helicopters.

Their Air Medical division isn't profitable, and is up for sale apparently.

Fracking is profitable, deep water drilling is expensive. Oil companies are focusing on fracking. If everyone is drilling offshore, they'll need helicopters. They just aren't doing it that much anymore.

They've gutted the company. Everything they used to do in-house with high quality is now outsourced.

Al Gonsoulin, the head cheese, seems to be content to watch the world burn. He's old, and very old school. He's made a comment in a public speech before along the lines of "Why should I care about bankruptcy? That's the bank's money, that's their problem. I've got my money."

Personally, I think the genie is out of the bottle with fracking. Nobody will be doing the amount of drilling in the gulf that they were doing before.

I think that their business model is on the ropes and there's no coming back.