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Nobody bought tonnes. Common share holders are raped. Myself included.
The Plan will provide for the cancellation of all outstanding NII common stock and the issuance of new common stock, par value $0.001 per share (the “New NII Common Stock”), in NII, as reorganized pursuant to the confirmed Plan (“Reorganized NII”). Each share of the New NII Common Stock shall entitle its holder to one vote.
The Plan will also provide that, upon emergence, Reorganized NII shall amend and restate its charter and bylaws substantially in the forms attached hereto as Exhibit B and Exhibit C, respectively, with any additions, deletions, changes and/or modifications thereto to be subject to the reasonable consent of each of the Plan Proponents and each of the Requisite Consenting Noteholders.
On the Effective Date, the Debtors and the recipients of New NII Common Stock will enter into a registration rights agreement, which shall provide parties who, together with their affiliates, receive 10% or more of New NII Common Stock issued under the Plan with registration rights pursuant to the Registration Rights Agreement.
I think the plan was to cancel all the os shares and just issue new ones.
I'm no lawyer but it sounds like it. Anyone interested can buy it as if it's a new ipo
Does any one agree?
It's a tough call. I did not see the whole oil industry collapsing while I was in this trade. However, I do not see oil ever collapsing at all. Unless everybody stops driving and using paper bags, you'll do fine. It's a question of when the market will come back.
Xco is making a good step by suspending dividend IMHO. The money can be reinvested to increase ebitda. Which is what I mostly look for.
I think you'll do fine with xco in the long term. Jmo
I've never seen a company going straight down like this before without a hint of a bounce. It's almost unbelievable...
It's one of those ripoffs where the company will start all over again as a new company after de-listing and the current shareholders get nothing.
The company knows this and are paying executives handsomely for said plan.
I think it will. Why don't you short here? LOL
For those who followed me at $5, I'm out.
May see under $2 thanks to bmo downgrade today
Ughh... So damn ugly.
Oil should have a rebound soon though
Not as ridiculous as going to one or two stores out of 4000+ and deemed the company dead.
"Loans are easily fixable especially when interest rates are a record lows and junk loans are flowing. "
Once again, I disagree. If RS could, they wouldn't be stuck in this predicament right now.
Have you gotten a mortgage before?
If you did, then you'd know the penalties for default or early paying off the loan.
"All the other problems aren't fixable."
Why not? Why so pessimistic?
You haven't seen American airline coming back from the dead? You didn't see rite aide turn things around? Siri?
What about Avis?
You say you have no position but you're leaning heavily towards the bankruptcy of the company and the loss of 25000 jobs and laugh about it.
Ignore him cat
That's what we're gunning for. Previous earnings reports mr magnacca stated that his plans of turnarounds have started to show fruition. The only thing dragging them down is the loan.
Having said that, by cutting the 401k, I think it'll be a huge cost savings measure. I hope management can suck it up and take a pay cut too, temporarily. Then, we'll see some real progress.
RadioShack to Report FY 2015 Q3 Earnings on Thursday, December 11, 2014
2014-12-05, 5:07 AM
RadioShack Corporation (NYSE: RSH) will host a webcast of its Fiscal 2015 third quarter earnings conference call starting at 9 a.m. ET on Thursday, December 11, 2014, to review financial results for the third quarter, which ended November 1, 2014.
RadioShack also will issue a news release summarizing its third quarter results and intends to file its Form 10-Q with the U.S. Securities and Exchange Commission before the start of market trading on the New York Stock Exchange on December 11, 2014.
The webcast can be accessed on the Investor Relations home page of the RadioShack corporate website at http://IR.RadioShackCorporation.com.
Replays of the conference call will be available via the Internet and telephone beginning at approximately noon ET on December 11, until midnight ET on December 18, 2014. The webcast replay will be available on RadioShack's Investor Relations home page. The telephone replay will be available by calling toll-free 888-286-8010 or by toll call at 617-801-6888. The telephone replay passcode will be 828-11-766.
Hey man, do not worry about the price fluctuation at this moment. I don't think much will be made out of it.
On one of my posts, I've stated Salus wanted a bigger piece of the pie in their negotiations. They're not about to give up their ownership of the company when they know what the company's really worth. All these so called experts who think they know better than the financiers are kidding themselves.
Salus is being a cry baby right now when they realize they're losing their controlling power IMHO.
Once again, personally, I would not invest so much time and money on a boat to see it sink. My investment is pennies comparing to the millions that these deep pockets have.
I'll just sit tight and let spoilt child be just that. Spoilt.
I expect RS to report stronger earnings and revenue but ebitda remains weak partly due to the loan. In the previous statement, joe magnaca already said they've lower expenses and costs significantly. I know this company is doing well and will continue to do well once this cloud is lifted.
Expect a deal to be made that will be win/win for both parties and expect next quarter to be strong.
You can blame previous cfos or previous management or getting them into this mess but it's pointless at this point. What's important is that we have the right people in there now IMHO.
Good luck :)
I could've sworn the price action was bullish yesterday...
Doesn't make sense
Empires are built on a mountain of skulls
-RadioShack Release Highlighted Added Cost-Reduction Measures Will Be Announced with Upcoming Qtr. Earnings Report, Sees Added Savings of ~$200M+
-An additional critical cost reduction measure involves the closure of up to 1,100 stores so that the Company can focus on its profitable, go-forward locations. Earlier this year, RadioShack asked the term lenders for consent to close these stores, which the Company estimates would have enhanced overall EBITDA by about $83 million and created an additional $87 million of liquidity from reduced and focused inventory levels. They refused unless the Company paid significant fees, prepaid a substantial portion of their debt and agreed to other covenants and concessions that the Company believed to be unreasonable, even though these store closures would have clearly benefited the Company and its stakeholders.
There! Your culprit.
RadioShack Corporation announced today that it received a notice from Salus Capital Partners, a unit of Harbinger Group, Inc., claiming covenant breaches under the $250 million Term Loan facility provided by Salus and Cerberus Business Finance, a unit of Cerberus Capital Management. The claims relate primarily to the recapitalization and investment agreement and amendment to the Company's ABL credit facility, which in each case were entered into by the Company on October 3, 2014. RadioShack (RSH) believes these claims are wrong and self-serving.
RadioShack intends to vigorously contest the claims. The Company has been advised by lenders holding a majority of the loans and commitments under its ABL credit facility that they intend to continue to extend credit to the Company in accordance with the terms of the ABL credit facility.
Joe Magnacca, RadioShack's chief executive officer, said, "We will do everything we can to assure that these claims do not distract us from our ongoing efforts to rationalize our capital structure and transform our business. We will maintain our focus on operating our business as we move forward."
Magnacca continued: "Despite their intimate knowledge of the challenges that RadioShack faced when they extended credit to us late last year, our current term lenders have repeatedly blocked our efforts to accelerate and intensify our turnaround and make smart decisions for our business. Now, prompted by their narrow self-interest, they appear to be trying to manufacture a problem during the critical Holiday shopping season in an effort to get out of a loan on which they have already reaped more than $35 million in fees and interest payments."
"We intend to do everything in our power to prevent them from using what we see as unfounded technical arguments to benefit unjustly at the expense of other creditors, the hundreds of communities we serve, the many other businesses we support and the jobs of more than 25,000 hard-working people," Magnacca said.
Magnacca continued, "This is particularly disturbing in light of meaningful steps we have taken in our turnaround plan, as well as the recapitalization steps announced in October which, if conditions are satisfied, would result in the conversion of at least $120 million of debt into equity." Among the operational steps taken by RadioShack are the following:
The Company has reconfigured store hours at select locations that are expected to reduce annual operating costs by $35 million and have also completed major cost reduction projects, principally saving costs in IT and more efficient DC operations, of over $39 million.
As the Company has communicated clearly to the term lenders, it has additional cost-reduction measures in process that it intends to announce in connection with its upcoming quarterly earnings release, which it believes could save an additional $200 million or more in operating expenses beyond the impact of the store closures, dramatically improving the cash flow of its business.
An additional critical cost reduction measure involves the closure of up to 1,100 stores so that the Company can focus on its profitable, go-forward locations. Earlier this year, RadioShack asked the term lenders for consent to close these stores, which the Company estimates would have enhanced overall EBITDA by about $83 million and created an additional $87 million of liquidity from reduced and focused inventory levels. They refused unless the Company paid significant fees, prepaid a substantial portion of their debt and agreed to other covenants and concessions that the Company believed to be unreasonable, even though these store closures would have clearly benefited the Company and its stakeholders.
Then, in late October, RadioShack requested that the term lenders consent to the closure of a smaller but significant portion of these same stores, but they again refused. Most recently, RadioShack repeated its request that the term lenders consent to permit the closure of up to 1,100 stores to provide the Company with a rational store base going forward, and yet still has not received their approval. For RadioShack, these requests, for months, have been about the Company's continued efforts to transform its business, serve its customers and preserve the jobs of the vast majority of its employees.
Magnacca concluded: "It appears to us that the term lenders seek only to advance their particular interests at the expense of all other RadioShack stakeholders and will oppose any common sense business move requiring their consent unless the Company agrees to their exorbitant demands. The Company calls on them to rescind their notice and related demands and instead grant approval for the Company to take action that would benefit all creditors and other stakeholders.
RadioShack has a lot going for them
November 13, 2014
RadioShack's Fix It Here! Mobile Device Repair Service Now Available in 30 Houston-Area Stores
November 10, 2014
Top 4 Stocks In The Electronics Stores Industry With The Highest EPS Growth Forecast For Next Year
by Monica Gerson
http://m.benzinga.com/article/4998382
November 6, 2014
RadioShack Launches Defense Mobile Service for Veterans, Military Service Members and their Families
http://www.marketwatch.com/story/radioshack-launches-defense-mobile-service-for-veterans-military-service-members-and-their-families-2014-11-06
October 30, 2016
RadioShack Lender Salus Said Seeking to Add Debt Holdings
http://mobile.bloomberg.com/news/2014-10-30/radioshack-lender-salus-said-seeking-to-add-debt-holdings.html?cmpid=yhoo
October 29, 2015
MAEVA Group To Provide Advisory Services To RadioShack
http://money.cnn.com/news/newsfeeds/articles/prnewswire/DA50768.htm
October 20,2014
RadioShack's Fix It Here! Mobile Device Repair Service Now Available in 26 Chicago-Area Stores
http://money.cnn.com/news/newsfeeds/articles/prnewswire/LA41992.htm
October 19,2014
Apple Inc partners with RadioShack for new payment method
http://guardianlv.com/2014/10/apple-inc-partners-with-radioshack-for-new-payment-method/
Jamie Zimmerman’s Litespeed Management Goes Activist With 8.8% Stake
http://www.insidermonkey.com/blog/radioshack-corporation-rsh-litespeed-management-goes-activist-with-8-8-stake-331322/
RadioShack Agrees to Financing Plan With Hedge Fund Standard General
http://online.wsj.com/articles/radioshack-agrees-to-financing-plan-with-hedge-fund-standard-general-1412337522
Defense Mobile Joins Forces with RadioShack to Launch New Military Focused Mobile Service this Fall
http://ih.advfn.com/p.php?pid=nmona&article=63402628&symbol=RSH
RadioShack and PCH Announce RadioShack Labs to Support Startups and Boost New Product Innovation
http://finance.yahoo.com/news/radioshack-pch-announce-radioshack-labs-104500084.html
RadioShack Is Not As Bad As Everybody Thinks
http://seekingalpha.com/article/2288503?source=iphoneportfolioapp_message
Shorts are about to die.
Jmho
Do not give up longs
IMHO, SG has their investment covered. They lose nothing financially. But for them to take the initiative to give up their shares for bod, they're really shaking things up.
I'm willing to bet SG is putting their best people in there to control the ship.
With regards to earnings, I'm expecting some improvements as we always do during this time of year but the stranglehold of Salus capital wanting a piece of the pie, it's going to be hard to see ebitda improves.
This is a billion dollar gem.
Did not expect oil to drop so dramatically as it did today.
I did not follow jcp as extensive as you did but I did make a few bucks on the long side this year. If you say it will go kaput, I have nothing to say otherwise.
Rsh on the other hand, I have helped numerous ppl on this board make money on the long side. AND IMHO, it's a stock you would not regret owning forever.
If you do think it'll go down, by all means place your bet. But please use facts instead of personal opinions. There's already a pumper here and he's not doing so well.
From $5 to $11 is not a good short IMHO
Really? You must've lost a lot of money on that run up for jcp
Sure is better than betting for a 100% gain going down.
Personally, I wouldn't waste that much time and money on a company if I don't think it will turn around.
The shorts are just using their own opinions again to shake you out of your position IMHO.
I'm standing firm for the $4. A 400% return in the next 4 years.
Jmho
Standard General to swap RadioShack shares for board seats
http://m.seekingalpha.com/news/2150295
Hedge fund Standard General, RadioShack’s (NYSE:RSH) largest shareholder, has agreed to trade some of its potential stake in the struggling electronics retailer in return for four board seats.
Under the terms of the amended refinancing agreement, Standard General would give as much as 10% of its preferred stockholdings in exchange for the seats and at least two of the designees would be independent directors.
Following the new changes, RadioShack’s board would include CEO Joe Magnacca, the four designees, and two independent directors.
The whole stock market is one big scam man...
You haven't seen .0000001 shares traded before?
It will benefit the ones buying new shares of the restructured company. The big guns will not be affected
Why would it be good news if holders of the stocks be holding worthless papers?
Wow didn't realize that's even possible
Breaking $8 is when I'll start taking a position again. Not a good entry right now IMHO.
Jcp did really well for me this year.
"Bought the girlfriend some batteries for her toys"
Bahahahahaahahahahaha!
Don't worry we'll see $100 by end of the week. GUARANTEED! LOL LMAO. Stilling timing to buying before this stock hitsing $100. Just my 2 sense. Your welcome. LOL.
Look at all that volume! Look at the chart! It's green! LOL FLYING LIKE A ROCKET!
You should've gotten me as Dr.Dre at the place you went.
Actually I did hit the mall yesterday at Belis Fair and there was a huge line up for the Dr Dre. They were all sold out it seems. Lots of people leaving the store with bags of stuff. Kind of fun to see.