Cycling and bicycle discussion forums. 
   Click here to join our community Log in to access your Control Panel  


Go Back   > >

Foo Off-Topic chit chat with no general subject.

User Tag List

Reply
 
Thread Tools Search this Thread
Old 07-02-10, 09:17 PM   #1
no1mad
Thunder Whisperer
Thread Starter
 
no1mad's Avatar
 
Join Date: Apr 2008
Location: NE OK
Bikes: '06 Kona Smoke
Posts: 8,662
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 49 Post(s)
Read a memo today

Came out yesterday. Topic was about "recapitalization". Not quite sure what that is.

It also made mention of media reports that the NYSE had suspended trading the Company's stock and was in the process of de-listing, which Company says is trying to "rectify the situation".

Methinks I need to start updating my resume...
__________________
Community guidelines
no1mad is offline   Reply With Quote
Old 07-02-10, 09:23 PM   #2
JoelS
Senior Member
 
Join Date: Jun 2008
Location: Near Sacramento
Bikes:
Posts: 4,890
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I think you ought to do more than update your resume. Get it out there and start looking!
__________________
-------

Some sort of pithy irrelevant one-liner should go here.
JoelS is offline   Reply With Quote
Old 07-02-10, 10:06 PM   #3
dahut
Ridin' South Cackalacky
 
dahut's Avatar
 
Join Date: May 2010
Bikes:
Posts: 1,918
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by no1mad View Post
Came out yesterday. Topic was about "recapitalization". Not quite sure what that is.

It also made mention of media reports that the NYSE had suspended trading the Company's stock and was in the process of de-listing, which Company says is trying to "rectify the situation".

Methinks I need to start updating my resume...
These days it should stay in a perpetual update status.
dahut is offline   Reply With Quote
Old 07-02-10, 11:03 PM   #4
overthehillmedi
Senior Member
 
Join Date: Feb 2005
Location: Nanaimo.B.C. The We't coast of Canada
Bikes:
Posts: 1,287
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I think you should read the first sticky on this forum in it's entirety.
overthehillmedi is offline   Reply With Quote
Old 07-03-10, 12:27 AM   #5
SingingSabre 
BF's Level 12 Wizard
 
SingingSabre's Avatar
 
Join Date: Feb 2006
Location: Tucson, AZ
Bikes: Diamondback Sorrento turned Xtracycle commuter
Posts: 1,425
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Good luck.
__________________
Shameless plug (my sites):
Work
Photography
Vanity
Quote:
Originally Posted by Bklyn
Obviously, the guy's like a 12th level white wizard or something. His mere presence is a danger to mortals.
SingingSabre is offline   Reply With Quote
Old 07-03-10, 05:18 AM   #6
chewybrian 
"Florida Man"
 
chewybrian's Avatar
 
Join Date: Mar 2008
Location: East Florida
Bikes: '66 Raleigh Superbe, 80 Nishiki Maxima, 07 Gary Fisher Utopia, 09 Surly LHT
Posts: 1,561
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 32 Post(s)
Quote:
Originally Posted by no1mad View Post
Came out yesterday. Topic was about "recapitalization". Not quite sure what that is....
Capitalization is the money invested in the company, both by bondholders and shareholders, including retained earnings. So, the need to 'recapitalize' just means the company wants more cash, for good or bad reasons.

It could be a good thing, if your current business model is solid. If you can build and open new retail outlets that everyone thinks will generate a better return than the interest on bonds, that would be a good reason to 'recapitalize'. If that was true, the company could float new stock or debt offerings, and doing so would not knock them off the stock exchange.

But, combined with the news of de-listing, it looks very bad. It looks like the current model is broken, and they want cash to pursue a different strategy that they think might work better. It sounds like the memo is trying to put a good spin on very bad news.
__________________
Campione Del Mondo Immaginario
chewybrian is offline   Reply With Quote
Old 07-03-10, 05:42 AM   #7
va_cyclist
Senior Member
 
va_cyclist's Avatar
 
Join Date: Jun 2005
Location: Ashland, VA
Bikes:
Posts: 1,345
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Translation: the company is broke and not making any money.
va_cyclist is offline   Reply With Quote
Old 07-03-10, 07:23 AM   #8
dahut
Ridin' South Cackalacky
 
dahut's Avatar
 
Join Date: May 2010
Bikes:
Posts: 1,918
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by va_cyclist View Post
Translation: the company is broke and not making any money.
Which typically translates into cutting employees, their pay or their benefits.
Or all three.
dahut is offline   Reply With Quote
Old 07-03-10, 07:53 AM   #9
no1mad
Thunder Whisperer
Thread Starter
 
no1mad's Avatar
 
Join Date: Apr 2008
Location: NE OK
Bikes: '06 Kona Smoke
Posts: 8,662
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 49 Post(s)
Quote:
Originally Posted by chewybrian View Post
Capitalization is the money invested in the company, both by bondholders and shareholders, including retained earnings. So, the need to 'recapitalize' just means the company wants more cash, for good or bad reasons.

It could be a good thing, if your current business model is solid. If you can build and open new retail outlets that everyone thinks will generate a better return than the interest on bonds, that would be a good reason to 'recapitalize'. If that was true, the company could float new stock or debt offerings, and doing so would not knock them off the stock exchange.

But, combined with the news of de-listing, it looks very bad. It looks like the current model is broken, and they want cash to pursue a different strategy that they think might work better. It sounds like the memo is trying to put a good spin on very bad news.
Pretty much what my initial gut feeling was.
__________________
Community guidelines
no1mad is offline   Reply With Quote
Old 07-03-10, 08:09 AM   #10
no1mad
Thunder Whisperer
Thread Starter
 
no1mad's Avatar
 
Join Date: Apr 2008
Location: NE OK
Bikes: '06 Kona Smoke
Posts: 8,662
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 49 Post(s)
Quote:
Originally Posted by va_cyclist View Post
Translation: the company is broke and not making any money.
Quote:
Originally Posted by dahut View Post
Which typically translates into cutting employees, their pay or their benefits.
Or all three.
The memo also stated that the Company had reached a Forebearance Agreement with a "majority of the senior note holders" that is extendable by written agreement by both parties. The Company got out of paying some $40+ million in P&I this month alone.

Wage/bonus freeze for the past 2 years, RIF's been on-going for like the last 18 months, core benefits haven't wavered too much.
__________________
Community guidelines
no1mad is offline   Reply With Quote
Old 07-03-10, 08:25 AM   #11
jdon
Senior Member
 
Join Date: May 2009
Bikes:
Posts: 4,239
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Good luck no1mad.

My employer is merging with another company in December. At a town hall the incoming CEO stated "if your department isn't a profit center, you will be gone". My department operates under "shared services" so I am polishing up my resume as well.
jdon is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -6. The time now is 03:51 PM.