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Nothing says economic recovery like one of the most profitable and prestigious law firms in the nation announcing mass layoffs for the first time in 82 years. Yep, four years after the so-called “recovery” began, things are so good that Weil, Gotshal & Manges has decided to cut 7% of its associates and slash annual compensation for 10% of its partners by hundreds of thousands of dollars.
Hopefully, our friend is one of them.
Forgot link: http://www.zerohedge.com/news/2013-06-25/nothing-says-economic-recovery-mass-layoffs#comments
Fair enough.
GLTA.
"People have a hard time getting a murder conviction reversed on the basis of new evidence that was concealed or unavailable at the time of trial."
That's factually not true, especially in these days of DNA testing.
Thanks radiumsoup.
Always appreciated your honest and well-thought-out responses.
GLTA.
2 Questions:
Kind of confused on these points.
Has the date for releases been extended? If so, if someone buys today, will they be part of the NewCo if they grant the releases?
TIA and GLTA.
You mean 4:1. Chances increased not decreased.
If not, I bet they can create one instantly.
Do you have any idea what you're writing about?
"Sir, I've served on an equity committee before."
Care to name the company involved?
"There is 2 of them in this plan"
There ARE 2 of them in this plan.
Johnny?
Johnny, is that you?
Funny, that is what I noticed as well.
Hope that it is what we think it is.
GLTA.
Could it also be that she rules that they (DIMEQ) have no standing what-so-ever as a third option, or is it really a binary answer: debt or equity?
Just wondering if that's a possibility as well.
GLTA.
EDIT: I have not followed the DIMEQ story, so my knowledge regarding it, is minimal, to say the least.
Ironman 3.
Exactly Strike.
This case has not even followed the mandatory first steps required by bankruptcy laws(FACT: http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter11.aspx)
the debtor also must file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a schedule of executory contracts and unexpired leases; and (4) a statement of financial affairs
It is extremely important that all information submitted to the Bankruptcy Court, the trustee appointed to the case, and the United States trustee is complete and accurate.
Fraudulent information from and acts of concealment by the debtor are grounds for denial of a discharge and may be punishable as a criminal offense.
All this talk about following BK laws and that's what it is, really does not sit well with me at the moment. It that were truly the case, then what about http://www.mab.uscourts.gov/mab/node/75 ( the most obvious one )
"Bankruptcy" refers to a federal code of laws and set of rules which are designed to help a debtor, whether an individual or a business, who is facing more debt than he, she, or it can afford to pay, achieve a fresh start. Bankruptcy permits the debtor to work out a plan to repay some or all of the debt, or to have some of the debt forgiven. The bankruptcy laws give the debtor protections and benefits that are not available outside of bankruptcy. Most notably, bankruptcy laws may provide for some debt forgiveness and typically require that creditors stop all collection efforts against the debtor while the debtor is working out a plan and/or awaiting a discharge of debts. The bankruptcy laws require that the debtor make full disclosure of all assets, liabilities and other financial information, and that the debtor either (1) surrender non-exempt assets for liquidation and distribution to creditors or (2) formulate and follow through on a plan of reorganization and debt repayment that provides creditors with at least as much as they would receive if the debtor's assets were liquidated and distributed to creditors. Bankruptcy cases are adjudicated by the bankruptcy court, a federal court which is a unit of the U.S. District Court in each jurisdiction.
Just had my second one now. Slow down.
Time to read those notices.
Got it.
Funny thing about reading posts in the contexts they were meant to be in. If done correctly, then everything seems clear. ;)
P.S. Just had my first espresso of the day. Starting to wake up.
Thanks again.
The $250m figure* represents "current" value of that business, The number was slightly lower by the debtors analysts, and slightly higher by the Equity Committee's analysts
By definition, an opinion can't be wrong. It's an opinion. My opinion can be that the sky is green. I might be color blind. But my opinion that it is green is not wrong.
With a 12-Gauge or a .357 Magnum. Either one will suffice.
"S doesn't have any money. They are in their own liquidity crisis, at a time when banks aren't lending to heavily indebted companies. R/S ... followed by dilution will be the only way to raise money and the market knows it."
Pure BS.
They have enough cash to pay maturing debt till 2013. By that time, their FCF might very increase another 15 - 20%, thereby keeping themselves nice and liquid.
And pure dilution is not the only way to raise capital. Ever heard of issuing debt? How about royalty financing? Even partnering?
Keep spewing the FUD.
He disputes the disputed part.
LOL
He seriously is working over the Debtor's attorney. He's making them look like idiots.
Is it just me or is Mr. Levine projecting some nice thick attitude towards the Debtors attorney?
I love it.
And yet, you're still here posting at midnight on a Sunday morning.
What does that say about you?
BTW, I assume you get the jist of my post as well.
Once again, thanks for everything you do.
Fair enough.
No hard feelings?
EDIT: I really do appreciate your summary. It provided more insight than just listening in on the phone. BTW, thanks Dan, Ilenes and yourself for all that you do for us.
"Your opinion happens to be wrong."
Since I do agree with the majority of your posts and thoughts, this statement I do have to disagree with you. I was quite taken aback by the fact that you would actually state that.
Opinions are subjective.
Subjective: existing in the mind; belonging to the thinking subject rather than to the object of thought
Objective: of or pertaining to something that can be known, or to something that is an object or a part of an object; existing independent of thought or an observer as part of reality.
Subjective: Cats are the best pets. Most likely your opinion.
Objective: The Earth is round. We cannot dispute that.
An opinion cannot be wrong because it is based on subjectivity, which differs from person to person. If something does not have a factual basis it is subjective and thus how right it is, is up to individual discretion.
There is no way of proving or disproving an opinion. That however does not stop some of them from being STUPID.
Really?
Susman wasn't there, so according to your previous posts, that's not good for us.
Turn on your lights....lol
WTF?
Any trading done during the whole negotiation process is insider trading. I don't give a f**k if it's a big trade or small trade.
Who does she think she is?
Freudian slip..."Owl crook"
"8 x 4 does equal 24 and IS basic math."
A little bit of problem there.
Care to try again...LOL
Voodoo, you might be talking about Mike Stathis, who worked for a hedge fund.
"Within days of the seizure, a hedge fund adviser and investment strategist, Mike Stathis of AVA Investment Analytics issued a formal complaint to the Securities and Exchange Commission, demonstrating compelling evidence of insider trading."
http://en.wikipedia.org/wiki/Washington_Mutual
original EC:
1. Esopus Creek Value, LLC
2. Kenneth I. Feldman
3. Saul Sutton
4. Dorothea Barr
5. Joyce M. Presnall
6. Tyson Mathews
7. Michael Willingham
If JPM about to steal BoA?
Link courtesy of 'ohbythebay' on the Y board:
http://www.zerohedge.com/news/bad-news-bank-america-imminent-attorney-general-says-completing-bofa-fraud-analysis
I think he's one who gambled on this stock and lost and is now trying to bring everyone else down.
Some people just can't admit to themselves that they f**ked up. They should just man up and chalk it up as a lesson in the life of stock trading.
IMO.
GLTA.
Ed's got him like a fish out of water.
Finish him off.
Maybe he's inca_tupac form the Y board....lol
iPads and/or iPhones do not support Flash. That might be the reason why it won't work.