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	<title>Greenbackd &#187; Breeden Capital Management</title>
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		<title>Zale Corporation (NYSE:ZLC) position closed</title>
		<link>http://greenbackd.com/2009/02/26/zale-corporation-nysezlc-position-closed/</link>
		<comments>http://greenbackd.com/2009/02/26/zale-corporation-nysezlc-position-closed/#comments</comments>
		<pubDate>Thu, 26 Feb 2009 05:00:21 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Breeden Capital Management]]></category>
		<category><![CDATA[Richard Breeden]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Zale Corporation (NYSE:ZLC)]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidating Value]]></category>

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		<description><![CDATA[Zale Corporation (NYSE:ZLC) has released its results for the quarter to January 31, 2009. After reviewing the results, we have significantly reduced our original estimate for the company&#8217;s liquidating value since we initiated the position at $4.82 on December 3, 2008. Our initial analysis of ZLC&#8217;s balance sheet was overly optimistic. We&#8217;ve now applied more [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1121&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Zale Corporation (NYSE:ZLC)</title>
		<link>http://greenbackd.com/2008/12/03/zale-corporation-nysezlc/</link>
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		<pubDate>Wed, 03 Dec 2008 10:14:29 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Breeden Capital Management]]></category>
		<category><![CDATA[Richard Breeden]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Zale Corporation (NYSE:ZLC)]]></category>

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		<description><![CDATA[Zale Corporation (NYSE:ZLC) is an undervalued asset situation with a well-known activist investor, Richard Breeden of Breeden Capital Management LLC, holding two seats on the board. At yesterday&#8217;s closing price of $4.82, the company has a market capitalization of $154M. We estimate the liquidation value of the company at around $243M or $7.63 per share, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=168&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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