· 2009 revenue fall 30%
· 100m cash from lawsuit won,300m senior notes. Total 700m
· Cash flow: 30m (positive)
· 2010 housing start forecast: 600k to 900k
· 2009: reduce OH spending for 75m
· Q4 loss is 11m, with the benefit of the 97m income from settlement of lawsuit
· 31m charge on goodwill and asset depreciation
· 2009 net loss is 598m
· deferred tax valuation allowance: 548m
· 170m interest expense for 2010
· Industry is running 50% capacity
USG could break out again, but if that happens, better to sell 50% position. long term, it takes years to really recover.
