Rotech Healthcare Inc fka ROHIQ

[big-yank]

J.T., this deal smells a lot like the Harry & David's pre-arranged BK except they didn't raid the employee retirement fund and H&D shares were privately held, but just as painfully "gifted" to noteholders.

This is yet another rape of shareholders without advocacy. My favorite part of today's "logic" is Alsene's dialog where he blames the debt on exiting from the prior BK, comfortably excusing himself and mgmt/bod glitterati from any responsibility for the business's abject failure over a 10 year window of reinvention. It's always someone else's fault, except the management team which includes Alsene did numerous refinancing deals upto and including Q4 of 2012 and FAILED to react to a changing reimbursement climate that is the same level playing field that Lincare, Apria and numerous other competitors have already adjusted to with some finesse.

You are correctamente. This one sucks!

And, just to think... management is getting cut in for a huge stock incentive in the new ROHI while current shareholders get a dime. Imagine that!