In a conference call held before the bell Friday morning, executives continued to strive to reemerge from the wreckage and garner investor support to buy shares that the company plans to introduce in a public offering this spring.

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Certainly, they will not emerge from Parmalat's wreckage unscathed financially, lured as they were by fat profits into making sloppy loans and giving the company the use of their balance sheet in other ways.

ECONOMIST: Parmalat