Jump to content

IDS World Markets Fri 20th February 09


Recommended Posts

  • Replies 375
  • Created
  • Last Reply
I don't know if I can handle posting over here with the big boys. Looks like Harrah's will file voluntary BK, perhaps as soon as this weekend( check the paper). Their fine for now, but are looking to talk to banks and none are listening. There going to go "voluntary"; Potential opportunity in competetive paper from lvs, mgm and wynn. Joe seems to have a good insight here and can perhaps provide more insight. Harrah's will file sooner rather than later and use their own balance sheet for DIP finance. Bigger picture, DIP finance just does not exist. "Healty" companies will just start to file BK, which will further fuel the deflationay spiral.... Let's watch the HET situation and see how it plays out....

 

 

Brought over from M2M...

 

My comment: MGM, Harrahs, Las Vegas Sands, Wynn, etc etc etc are all going to file for BK.....they all have too much debt.

 

Trump, Tropicana, and Station Casinos have already started the flow.

 

DIP financing is readily available for the right companies in the right industries.

 

Bottomline though, the number of companies filing BK this year and into next will be EPIC. What this implies for stocks is utter devastation with many hundreds/thousands of companies being zeroed out forever, bond holders need to be careful too, but after the washout the bondholders will emerge with all the equity + restructured debt in these firms.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...