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  "documentTitle": "Allied Capital (ALD)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2002-06-17 00:00:00",
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  "notes": "Includes footnotes 15 and 16 detailing valuation discrepancies and pari passu status.",
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      "text": "Allied recorded its $20 million debt investment in Startec Global Communications at cost throughout 2001 and even increased its investment in the company in June 2001 by an additional $15 million despite significant evidence that Startec was failing.",
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      "text": "bond valuation: 0.5%",
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      "text": "Point 2—Startec Global Communications. Allied recorded its $20 million debt investment in Startec Global Communications at cost throughout 2001 and even increased its investment in the company in June 2001 by an additional $15 million despite significant evidence that Startec was failing.",
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      "text": "Similar language was repeated in subsequent filings... Allied did not write down its debt investment in Startec until the fourth quarter of 2001 after Startec filed for bankruptcy.",
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      "kind": "quote",
      "text": "... the Company has suffered recurring losses from operations and has a net capital deficiency and working capital deficit. These facts raise substantial doubt about the Company's ability to continue as a going concern.",
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      "text": "“. . . the Company has suffered recurring losses from operations and has a net capital deficiency and working capital deficit. These facts raise substantial doubt about the Company’s ability to continue as a going concern.” — Arthur Andersen",
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      "text": "15 Allied has said on the May 29th conference call that it carries this debt is carried at 28%. According to the March 31, 2002 form 10-Q, the Velocita debt has a cost of $11,718,000 and a fair value of $4,318,000. 16 Disclosure in Startec's 2000 10K...",
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      "text": "Date, Quoted Price, Allied's Price; Sept 2000, 76.5%, 100%; Dec 2000, 96.5%, 100%; Mar 2001, 60%, 100%; Jun 2001, 60%, 100%; Sep 2001, 60%, 100%; Dec 2001, 10%, 100%; Mar 2002, 0.5%, 36.8%",
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