GSL Securities plunge due to management uncertainties

Wall Street (GSP). GSL shareholders and creditors suffer today due to the recent published works and backdating of stock options of Dr. Pastel. GSL shares dropped from $25 to $2.37 on the NYSE, marking a $10 Billion dollar loss in shared dividends to common stock and a 19% loss in profits for the quarter, despite a 7% rise in revenue due to emerging funeral business in the Middle East. Lehman Brothers analyst says this is due to shareholders' uncertainty of Dr. Pastel's financial dealings and recent public representation of the company in poetry. Securities and Exchange Commission officials are currently in debate whether to investigate Dr. Pastel's accounting "magic tricks" in stock options, which have reported to have been sold short against borrowed shares. S&P bond ratings recently dropped GSL corporate bonds from Aaa to junk bond status, marking significant loses to creditors and resulting in risk-premium interest yields that the corporation simply cannot obligate. Many creditors have leveraged legal claims against Pastel's poor management and are demanding liability claims against the corporation. Acting CFO Elmo Buchanan is selling commerical real estate in Newington, CT, and corporate held shares of Burger King and Victoria Secret to meet the liability claims of these investors.

Business Week asks, is bankruptcy in the future for GSL Enterprises? Shareholders look toward Buchanan's strategic and financial visions and superior morticianary research & development of Nyugan to keep the company from the bankruptcy courts. Mr. Kerkorian who owns a 9.9% stake in company share's has demanded termination of Dr. Pastel's junior CFO position. Wall Street, private-equity groups, and investors around the world hold their breath.