sirbika
New Member
"If I had to do it all over again, I would go back to right now!"
Posts: 94
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Court
Aug 20, 2013 13:51:55 GMT -5
Post by sirbika on Aug 20, 2013 13:51:55 GMT -5
Does approval of the plan dissolve poison pill exclusivity? It makes sense but I would like to see proof of dissolution somewhere in writing or text somewhere if anyone can post this. Thanks in advance!
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Court
Aug 20, 2013 13:57:24 GMT -5
Post by rc1974 on Aug 20, 2013 13:57:24 GMT -5
People,
Listen up! We own Kodak stock as a risky investment, and we know it. Anything with risk can blow up in your face and we know that as well, so anyone telling us to get out of the stock, just does not get it. We want to take this chance and will be fine with whatever outcome it brings. We are not going to go home and cry, like maybe those who are so concerned about us. Someone has to risk, and this time we decided, it will be us taking this risk. If we knew what would happen, then it would not be considered risk. The whole market is risky.nobody can predict the future. Naturally, we believe in our risk and want to keep believing in it. It is money here, not ourl house that is burning down, so no worries about us. We hopefully will live, but with less money or maybe a lot more
Chill out
RC
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Court
Aug 20, 2013 13:57:59 GMT -5
Post by kevinblandford on Aug 20, 2013 13:57:59 GMT -5
I can't see a reason for exclusivity if approved
unstudied here, just speculating based on reasoning
what I'm thinking makes prefect sense
but then again
been called uh retard b4
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sirbika
New Member
"If I had to do it all over again, I would go back to right now!"
Posts: 94
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Court
Aug 20, 2013 14:03:30 GMT -5
Post by sirbika on Aug 20, 2013 14:03:30 GMT -5
I mean I love the idea if all we need is a plan to get approved so that it opens the door to others interested in purchasing this company.
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Court
Aug 20, 2013 14:12:52 GMT -5
Post by julgob on Aug 20, 2013 14:12:52 GMT -5
Well-bespoke attys now properly fed, #Kodak confirmation hearing resumes.
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Court
Aug 20, 2013 14:15:28 GMT -5
Post by updated on Aug 20, 2013 14:15:28 GMT -5
What it mean Julgob, it means, WE ARE FEEDING YOU, EAT EAT, and GO WIN THE CASE Well-bespoke attys now properly fed, #Kodak confirmation hearing resumes.
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Court
Aug 20, 2013 14:18:39 GMT -5
Post by kevinblandford on Aug 20, 2013 14:18:39 GMT -5
I suspect if I was wrong someone would rub my face in it.
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Court
Aug 20, 2013 14:21:03 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:21:03 GMT -5
We're about ready to resume #kodak hearing. Expecting relatively quick confirmation.
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Court
Aug 20, 2013 14:26:52 GMT -5
Post by johndeere on Aug 20, 2013 14:26:52 GMT -5
Its official
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Court
Aug 20, 2013 14:27:47 GMT -5
Post by julgob on Aug 20, 2013 14:27:47 GMT -5
you said yourself johndeere The stock should double today... I guess you were wrong hein ...?!
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Court
Aug 20, 2013 14:30:28 GMT -5
keith likes this
Post by johndeere on Aug 20, 2013 14:30:28 GMT -5
Yep, expected a different outcome here. I guess its time to move on.
Samuel
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Court
Aug 20, 2013 14:31:32 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:31:32 GMT -5
Judge Gropper says he finds #Kodak has enough evidence that it's business plan is feasible and will likely be successful news_8
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Court
Aug 20, 2013 14:32:07 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:32:07 GMT -5
Judge: I recognize shareholders have suffered severe loss.
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Court
Aug 20, 2013 14:33:08 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:33:08 GMT -5
Judge: "At the time of admitted tragedy let's take a moment to dwell on the future [of Kodak]" news_8 #Kodak
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Court
Aug 20, 2013 14:34:06 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:34:06 GMT -5
Gropper laments fate of shareholders, apologizes for getting mad, but says there is simply no evidence there's value there. #Kodak
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Court
Aug 20, 2013 14:35:01 GMT -5
via mobile
Post by cswift71 on Aug 20, 2013 14:35:01 GMT -5
Shareholders objections are overruled. Judge says no evidence news_8
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Court
Aug 20, 2013 14:36:25 GMT -5
Post by johndeere on Aug 20, 2013 14:36:25 GMT -5
Level 2 still showing people buying shares. What is going on?
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doji3333
Junior Member
Step Away From The Keyboard Slowly
Posts: 230
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Court
Aug 20, 2013 14:41:16 GMT -5
Post by doji3333 on Aug 20, 2013 14:41:16 GMT -5
does this open the door for alternate PORs or are we DONE?
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Aug 20, 2013 15:04:07 GMT -5
does this open the door for alternate PORs or are we DONE? The POR has been approved, there will be no other POR's
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Court
Aug 20, 2013 21:51:45 GMT -5
Post by kevinblandford on Aug 20, 2013 21:51:45 GMT -5
Has anyone confirmed or asked if the assumption of unsecured creditors getting 4-5% is true if they are fully subscribed with the backstop party as explained in Matt Glassman's letter DOC#4714? What happened to the response to this letter? If what Matt is saying is true than looks like the Judge has not read this letter. According to Matt's letter if fully subscribed then the unsecured are getting 72% of this company and not the 4-5% that Judge Gropper is under the assumption they are getting! Hence why they are ok with this POR! I agree that this keeps coming up and is not being responded to properly. My math has been called into question but with 1 billion in the bank it would seem that the unsecured would get more by just asking for the cash on hand, no? I mean as a creditor my interest is not your ongoing business, it is the highest payment I desire. Here is a stupid question. Why would the unsecured interest want to buy the company and keep management in place? If your owed 3 billion does it makes sense to take 150 mill when there is 1.1 BILLION in the bank? Only when your buying the company. cuz now you have 150 million paid back and 85% of the restructured company that's how you use 3 billion in debt to buy a company or what is commonly called a LEVERAGED BUYOUT www.youtube.com/watch?v=3l63V8UN2i0#t=178
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Court
Aug 20, 2013 22:16:12 GMT -5
Post by kevinblandford on Aug 20, 2013 22:16:12 GMT -5
low evals, keeping the current management, the banking offers, cash balance all support what I am saying www.youtube.com/watch?v=3l63V8UN2i0#t=178In addition, KKR benefits more by going private PRE exit because by doing so (for 2yrs ) they lock and protect (and benfit ) from the NOL's. Otherwise they lose them if an ownership change occurs. If you wait AFTER exit you still have to buy all the debt and equity. you don't wanna deal with the new evals after exit and new holders who paid $11 a share when current holders are primed for far less
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Court
Aug 20, 2013 22:17:47 GMT -5
Post by thekodakkid on Aug 20, 2013 22:17:47 GMT -5
I agree that this keeps coming up and is not being responded to properly. My math has been called into question but with 1 billion in the bank it would seem that the unsecured would get more by just asking for the cash on hand, no? I mean as a creditor my interest is not your ongoing business, it is the highest payment I desire. Here is a stupid question. Why would the unsecured interest want to buy the company and keep management in place? If your owed 3 billion does it makes sense to take 150 mill when there is 1.1 BILLION in the bank? Only when your buying the company. cuz now you have 150 million paid back and 85% of the restructured company that's how you use 3 billion in debt to buy a company or what is commonly called a LBO www.youtube.com/watch?v=3l63V8UN2i0#t=178This is very true, the unsecureds are getting far more than the court realized cause it is disguised as a rights offering. technically their current bond is only worth .04-.05 but the additional capital they invest which is about 16% of their original investment increased their total take to nearly 72% of the newco. I have never seen a deal like this before and its obviously structured for the second lien holders to get as much new stock as possible. Kevin, you keep forgetting that US pensioners(700 million) and new debt holders(695 million) come before unsecureds can demand any part of the 1.1 billion in cash.
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Court
Aug 20, 2013 22:31:50 GMT -5
Post by kevinblandford on Aug 20, 2013 22:31:50 GMT -5
Yes, I know it doesn't change a thing i said low evals, keeping the current management, the banking offers, cash balance all support what I am saying www.youtube.com/watch?v=3l63V8UN2i0#t=178In addition, KKR benefits more by going private PRE exit because by doing so (for 2yrs ) they lock and protect (and benfit ) from the NOL's. Otherwise they lose them if an ownership change occurs. If you wait AFTER exit you still have to buy all the debt and equity. you don't wanna deal with the new evals after exit and new holders who paid $11 a share when current holders are primed for far less
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Court
Aug 20, 2013 22:34:30 GMT -5
Post by kevinblandford on Aug 20, 2013 22:34:30 GMT -5
what is wrong with what is written below? low evals, keeping the current management, the banking offers, cash balance all support what I am saying www.youtube.com/watch?v=3l63V8UN2i0#t=178In addition, KKR benefits more by going private PRE exit because by doing so (for 2yrs ) they lock and protect (and benfit ) from the NOL's. Otherwise they lose them if an ownership change occurs. If you wait AFTER exit you still have to buy all the debt and equity. you don't wanna deal with the new evals after exit and new holders who paid $11 a share when current holders are primed for far less
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Court
Aug 20, 2013 22:38:30 GMT -5
Post by updated on Aug 20, 2013 22:38:30 GMT -5
Kevin, I agree with you but do you think that the scam bags BOD will let KKR or any other entity buy KODAK and steal it from them> what is wrong with what is written below? low evals, keeping the current management, the banking offers, cash balance all support what I am saying www.youtube.com/watch?v=3l63V8UN2i0#t=178In addition, KKR benefits more by going private PRE exit because by doing so (for 2yrs ) they lock and protect (and benfit ) from the NOL's. Otherwise they lose them if an ownership change occurs. If you wait AFTER exit you still have to buy all the debt and equity. you don't wanna deal with the new evals after exit and new holders who paid $11 a share when current holders are primed for far less
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Court
Aug 20, 2013 23:22:54 GMT -5
Post by kevinblandford on Aug 20, 2013 23:22:54 GMT -5
Perez and Kravis are both on record ( at different times ) talking about Kodak going private.
Perez and Kravis worked together in 2009 to take out the 2033 unsecured bonds in exchange for secured bonds with higher interest.
That was the first step of this LBO.
ASK YOURSELF: Why does the 2 board members representing Kravis stay AFTER Kravis is paid back in just 5 months? They stayed for nearly 2 years after he was paid back. Explain that.
Then, right before BK - KKR helped write the poison pill, why?
and THEN they leave - go figure
why?
because they had too
because they wanted to buy it and didn't want to be tied up in a conflict of interest situation like the time they were charge under the RICO act but denied it
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Court
Aug 20, 2013 23:27:33 GMT -5
Post by updated on Aug 20, 2013 23:27:33 GMT -5
Kevin, all what you are saying make sense, now all what we need is implementation before the stock is canceled Perez and Kravis are both on record ( at different times ) talking about Kodak going private. Perez and Kravis worked together in 2009 to take out the 2033 unsecured bonds in exchange for secured bonds with higher interest. That was the first step of this LBO. ASK YOURSELF: Why does the 2 board members representing Kravis stay AFTER Kravis is paid back in just 5 months? They stayed for nearly 2 years after he was paid back. Explain that. Then, right before BK - KKR helped write the poison pill, why? and THEN they leave - go figure why? because they had too because they wanted to buy it and didn't want to be tied up in a conflict of interest situation like the time they were charge under the RICO act but denied it
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Court
Aug 21, 2013 3:58:45 GMT -5
Post by goldentouch on Aug 21, 2013 3:58:45 GMT -5
Kevin, everything you are saying is correct, except you do not understand that 2.8 billion in debt is being wiped out with 140 of new stock. Also this deal brings in about 400 million in cash via rights offering.
We will assume that even if Kodak didn't approve the plan (which they did and this is no longer a discussion) that the KPP deal could still be done to wipe out another 1.5 billion in debt and bring in the extra cash.
Without all of these deals Kodak would not be a viable company. Current Kodak shares (which have already been canceled) are worth -8 a share (book value) if these deals did not go through. New Kodak shares will be worth 20 a share just for cash on the books.
If you truly believe in what you are saying, invest in the new company. If you are half right you will make more then 3x you money in a year or 2
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