SubscribeAll Posts Tagged With: "chapter 11"
The Closest Thing to REAL Free Money You’ll See This Year
OK… the list I told you about…
It’s the dozen highly indebted companies I shared with readers of my investment advisory in December. I call these companies "Debt Traps."
In every case, the firm’s debt exceeds the value of its equity. Many of them won’t earn enough money this year to pay the interest on their debt. Without additional credit at low interest rates (which, as I explained yesterday, they won’t get), these firms are heading toward a bankruptcy filing in 2009 or 2010.
Below, you’ll see the name of the company, the amount of income it made from operations in 2007,…
13Mar2009 | Stansberry and Associates | 0 comments | ContinuedCircuit City Files for Bankruptcy After a Year of Falling Sales and Corporate Cutbacks
Circuit City Stores Inc. (CC) has filed for Chapter 11 bankruptcy, a week after the struggling electronics retailer announced it would close 155 of its 566 U.S. stores by Dec. 31 and slash its workforce by 17%.
“The decision to restructure the business through a Chapter 11 filing should provide us with the opportunity to strengthen our balance sheet, create a more efficient expense structure and ultimately position the company to compete more effectively,” James A. Marcum, vice chairman and acting president and chief executive officer, said yesterday (Monday) in a statement.
In the past year and a half, Circuit City…
11Nov2008 | Money Morning | Comments Off | ContinuedLifeline of the U.S. Economy
The rapid pace in which our financial markets are restructuring have many investors scared and intimidated. I am asked by friends, family, and other associates about what to make of the shakeout in commodities, equities, and credit markets.
This often puts me in an awkward scenario. You see, today’s market volatility presents and destroys financial opportunity on what seems to be a daily basis. I have a hard time recommending to somebody a play that they can simply hold over the next 5 much less 20 years. For that reason, if I don’t see or talk to somebody rather frequently, I…
7Oct2008 | Oxbury Research | Comments Off | ContinuedEvery Party Has a Pooper…
Last week, a headline in Canada’s Globe and Mail spoke of a miracle.
“Record crude prices force US oil company into Chapter 11.” We read the headline twice. It was no mistake. Even with the sunniest skies in the oil industry in more than 33 years, the Tulsa-based oil marketing company, SemGroup, still managed to find a puddle deep enough to drown itself.
Yesterday we reported Merrill’s $5.7 billion in write-downs. Even with the smartest people on Wall Street running things, the firm couldn’t avoid big losses. And last week, Fannie and Freddie had our attention. The twin mortgage lenders had been…
31Jul2008 | Daily Reckoning | Comments Off | ContinuedNRG Looks to Electrify its Business with $11.3 Billion Calpine Takover
Princeton, NJ- based NRG Energy Inc. (NRG) has publicly acknowledged its estimated $11.3 billion takeover bid for Calpine Corp. (CPN) – a wholesale provider of electricity emerging from chapter 11 bankruptcy protection.
NRG acknowledged Wednesday that it made the initial $22.98 a share offer on May 14. NRG said the deal assumes Calpine had 500 million fully diluted shares outstanding as of May 13. That calculation would value all of Calpine at $11.35 billion.
NRG offered to pay 0.534 shares for each share of Calpine, the company said in a statement. Based on NRG’s Wednesday closing price of $42.51, the deal values each…
23May2008 | Money Morning | Comments Off | Continued
Loading ...
