I believe Barron's wrote a piece on this company not too long ago prognosticating exactly what just happened.. I remember checking on the deal, but passed on it because it didn't have options. (ESCL) http://biz.yahoo.com/fool/060510/114727241205.html?.v=2
I bought a bit last week (couldn't resist a PE of 3 even though I knew the revenues are likely going down by at least 2/3) and sold after the spike the other day. No holdings now. Had I read that 2005 article about them in Barron's beforehand, I never would have bought.