With all the ado about the Tribune deal not running to completion, I have yet to find a story on which direction the company will take if the Sam Zell deal falls through.
David Hiller, publisher of the Los Angeles Times, is very optimistic the deal will go through, so maybe I should get into the mindset there will be a happy ending for everyone?
But lets say for a moment the transaction fails for one reason or another, the creditors will still want to be repaid, and with a debt of $11.5 billion and assets of $8 billion, who will make up the $3.5 billion difference if the company is broken up piece by piece?
Jim Cramer said it best,
“Why doesn't anyone care about this? Why are we letting these employees put their eggs in one basket? Why are we setting them up as people who will no doubt lose everything? Why isn't someone stopping this ludicrous deal?
My hope is that it can't get financing so it will fail. Then at least these good people, probably incredibly unsophisticated in the ways of rapacious capitalism, would not be wiped out”.
I am incredibly unsophisticated in the ways of rapacious capitalism, which leaves me with more questions than answers on how this deal will work in my best interests?
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