MSD Ignition Chapter 11
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Joined: Oct 2009
Posts: 42,497
From: Poteau, Ok
Old(s) Fart
Joined: Mar 2007
Posts: 50,803
From: Northern VA
Huh???
While I'll be the first person to point out that C4C was a $3 billion waste of my tax money, it isn't remotely related to this.
Read their press release:
So, in other words, MSD overpaid to acquire other companies and now they are reorganizing to get out from under that bad decision. This is no different from the people who overpaid for their houses then renegotiated their mortgage to get out from under their bad decision. Ultimately, it's the investors/stock owners who get screwed.
While I'll be the first person to point out that C4C was a $3 billion waste of my tax money, it isn't remotely related to this.
Read their press release:
...excessive debt, driven by peak-market acquisitions under previous management...
Registered User
Joined: May 2008
Posts: 3,627
From: Austin, Texas
Huh???
While I'll be the first person to point out that C4C was a $3 billion waste of my tax money, it isn't remotely related to this.
Read their press release:
So, in other words, MSD overpaid to acquire other companies and now they are reorganizing to get out from under that bad decision. This is no different from the people who overpaid for their houses then renegotiated their mortgage to get out from under their bad decision. Ultimately, it's the investors/stock owners who get screwed.
While I'll be the first person to point out that C4C was a $3 billion waste of my tax money, it isn't remotely related to this.
Read their press release:
So, in other words, MSD overpaid to acquire other companies and now they are reorganizing to get out from under that bad decision. This is no different from the people who overpaid for their houses then renegotiated their mortgage to get out from under their bad decision. Ultimately, it's the investors/stock owners who get screwed.
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