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Even with the rebound in the economy, the problems at Zale (ZLC) continue. The jewelry chain has posted a string of losses over the past couple years and is having liquidity issues. Keep in mind that the company recently indicated that there may not be enough cash flow to meet the operating needs for 2010.
It's a rough day for private equity. Carlyle is having a "crisis talk" with its investors because of the implosion of one of its debt funds.
Oh, and the Blackstone Group LP (NYSE: BX) announced its earnings report. There was a net loss of $170 million, which compares to a net gain of $1.18 billion in the same period a year ago. Unfortunately, the firm has little visibility as to when things will improve.
Simply put, Wall Street is not only concerned about the credit crunch – which means that fewer deals will get done – but also the stability of prior transactions. In other words, will some of them unwind and plunge into bankruptcy?
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