Bankruptcy thread

[Bozzie]

It's a bit tempting to take a shot at 25 cents.

Creative..I'm not sure I've seen a plan like this before..Sears sorta used their property holdings in a few different ways but never like this...Part I don't get is why they would think there would be demand lease wise these days..meaning who would buy the REITs?

https://www.cnbc.com/2020/05/16/ban...-properties-into-new-real-estate-company.html

 

[Enfuego]

Hertz filed today

 

[Bozzie]

Hertz filed today

Hertz rental car company has declared chapter 11 bankruptcy- another victim of covid 19. I could feel badly about another wonderful American business failing....but instead, I looked this up. How much did the CEO make? "In 2019, President and CEO at HERTZ GLOBAL HOLDINGS, INC, Katheryn Marinello made $9,138,362 in total compensation. Of this total $1,450,000 was received as a salary, $1,405,050 was received as a bonus, $567,663 was received in stock options, $5,635,758 was awarded as stock and $79,891 came from other types of compensation."

 

[savage1]

Re: Hertz, I am surprised that they have lasted this long.

My wife and gone on flights to quite a few cities over the years.

Lets just say that when we have rervedour package plans which includes rental cars, we have NEVER looked at Hertz for the

simple reason than their daily and weekly charges are in some cases double what the low priced car rentals charge.

Imo Hertz has always been for the most part for people traveling on business where the company picks up the tab in any event.

Because of the Virus and very few of these folks traveling, imo it is quite obvious as to why they are failing(in addition to the outrageous

salaries that Bozzie pointed out that i was not aware of).

 

[HamGlaze]

Sears. JC Penny. Two companies I grew up with and seemed just too strong to ever die away as quickly as it seems.

I might throw a few disposable bones on JC Penny as a lottery ticket. At some point these dinosaurs have to fight back with living DNA and get reinvented to survive. They saw SEARS go down and had to have some sort of plan or foresight, right?

 

[HamGlaze]

Haha. Didn’t see where JC Penny had already been delisted.

 

[smartmoneyfollower]

Top Owners of Hertz Global Holdings Inc

Stockholder Stake Shares owned
Icahn Associates Holding LLC 38.90% 55,342,109

 

[Bozzie]

[FONT=&quot]According to data provided exclusively to The Texas Lawbook by Androvett Legal Media research, more than 545 companies of all sectors in Texas filed for Chapter 11 protection from creditors between January 1 and May 5, 2020. This is a surge of 133 percent compared to the same period of 2019, Mark Curriden at The Texas Lawbook writes in Houston Chronicle.[/FONT]

 

[smartmoneyfollower]

Bozzie how many are oil companies who jacked up the price of oil to over 100$ a barrel and now are paying off debt with the bail out money when real small business can't pay rent.

 

[Bozzie]

Bozzie how many are oil companies who jacked up the price of oil to over 100$ a barrel and now are paying off debt with the bail out money when real small business can't pay rent.

It's obscene..

 

[Bozzie]

Not a Bankruptcy but this should give observers of the market a moment of consideration to the depth of the coming problems.

https://www.cnbc.com/2020/05/27/boeing-to-begin-laying-off-thousands-of-employees-this-week.html

 

[Bruins4Life]

Boeing still up 2% today. I think this is just the execution of a plan previously announced.

 

[Bozzie]

Boeing still up 2% today. I think this is just the execution of a plan previously announced.

It is and investors love to see cuts including layoffs if it means a stronger bottom line.

 

[Bruins4Life]

I was tempted at $120 as a trading stock. Ugh.

 

[Bozzie]

I was tempted at $120 as a trading stock. Ugh.

Only thing I like in the segment and I don't like it as much at $ 35 .. bought at 27

https://finance.yahoo.com/quote/ALK/

 

[Bozzie]

Golds gym....sorry mussel bound fellas

 

[smartmoneyfollower]

Boeing still up 2% today. I think this is just the execution of a plan previously announced.

New United Airlines CEO Says No To Bankruptcy and Mandating Blocked Middle Seats
[h=3]NO NEW AIRPLANES[/h]After the financial recession, many U.S. airlines renewed their fleets, adding new airplanes, often with improved amenities. But that era is now over, Kirby said.
“Beyond the airplanes that we’re already kind of locked in on, I think it’s going to be a while before we’re taking new deliveries,” he said.
In the recent past, United might replace 15-year-old airplanes with newer models, using parts from retired jets for other aircraft. But that’s no longer the prudent financial move, he said.
“The less risky financial decision is to keep the older airplanes,” he said. “I view my job as chief risk manager, particularly as we go through a crisis. That just changes your perspective on new aircraft.”
United is the only one of the big three global U.S. carriers that has not retired a fleet type during the pandemic. It may, but it is too early, Kirby said. He said he prefers to watch to see how demand recovers.
“There’s no upside to doing it today versus collecting some more information and collecting more data, and we can make a better decision, a month from now, or two months from now, or four months from now,” he said.

​

 

[Bozzie]

Google reportedly rescinds job offers for thousands of contractors and temporary workers

https://www.cnbc.com/2020/05/29/goo...ffers-for-thousands-of-contractors-temps.html

Not good

 

[Bozzie]

man...25,000 estimated store closings

www.cnbc.com/2020/06/09/coresight-predicts-record-25000-retail-stores-will-close-in-2020.html

 

[tanner12oz]

24 hour fitness