Bankruptcy

Another Pension induced Bankruptcy

Submitted by Chris Ducret on Fri, 02/14/2020 - 04:31

McClatchy, 2nd largest newspaper in the country (owners of the Miami Herald and others), just BK'd, at least a Chapter 11 reorganization.  Its bad enough that its a newspaper and understand that model is dead. However their idea of going digital is also not much of a future. Will be able to get into that conversation at another day.

What pushed McClatchy over the edge, once again its pension liability.  From Kevin McClatchy 

Texas in danger in next Crunch?

Submitted by Chris Ducret on Sun, 02/02/2020 - 16:53

Haynes and Boone released their oil bankruptcy report.  Texas lead the way with bankruptcy last year with 42. Louisiana and Colorado were tied for second with 11.  When the economy collapsed in 2008 WTI peeked at @ $165/brl.  With the support of  high oil prices, Texas was able to weather the economic collapse well.  

Deans Dairy BK

Submitted by Chris Ducret on Tue, 12/03/2019 - 18:55

Corporatization of dairy could not make it work.  In the booming economy there are limits.  Limits in markets, opportunities, debt and PENSION obligations.  All while the industry sales drop by a $1B year over year is tough on any industry.  Luckily they have the assets to get DIP financing of +$800M to continue through the BK process.