Zales did everything it could to entice a purchaser for its Bailey Banks and Biddle division, including guaranteeing the leases, should Baileys go out of business. Who would sell a division but still remain financially liable for potentially $67 million worth of leases for a comany you no longer own? Well Zales did it and failed to report the potential liability in their 2007 and 2008 Q-10 reports. Then, Finlay, the corporation who purchased Baileys liquidates Baileys and guess what...Zales has some leases to pay off and some major "splainin' to do to its shareholders who were never told of the bargain in the first place. And now with more transparency from the SEC, it explains why Zales postponed twice their 2009 fiscal earnings statement until late October. They claimed that they hired a new accounting firm and that there was a "learning curve" for these new accountants so that's why the annual report was taking so long. A Zales employee even stated something like "look there's a learning curve...they're still figuring out where the coffee maker is." Do you really expect us to believe that one?