CreditCards.com postpones initial public offering The company had expected to raise up to $185 million, cites market conditions as reason for hold.
Josh says: Timing is everything. Can’t help but think that current issues related to credit and the challenges that face the US economy may be affecting this postponement.
***FS*** I agree.. look out your financial window.. this subprime mess is going to get a lot worse before it gets better.. will affect every one of us. I bet Name Media would prefer to shelve their offering but their filings indicate they have some 9 figure debt coming due that would be expensive to restructure in this market, absent an IPO.
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Let’s not forget political risk either. Sen. Carl Levin will be holding another credit card industry-bashing hearing on December 4th, and lots of proposals are circulating on Capitol Hill that would limit industry practices that reduce risk or generate substantial chunks of income.
***FS*** Spoken like a man familiar with the banking committee.. Thanks Phil