From Poway's point of view this deal is perfectly rational. Instead of bankruptcy now for $100M, bankruptcy in 10-20 years, for $1B? Sign me up.
BUT, who are the idiots buying this cr#%? Journalists should focus their efforts on exposing those who violate their fiduciary responsibility to investors, not in 10 years when the po@& hits the fan, but when the original purchase is made. These jokers should be tarred and feathered and driven out of the business at the time they make the decision, not well after they retire with a nest egg of management fees.