They have to get their finances in order. We all know that. If they can't, then the books must be opened to Kim, B. Riley and Sullivan & Cromwell LLP before filing bankruptcy. As a shareholder, I would demand the books be opened if they can not work things out. There are potential obstacles but I applaud Kim's recent efforts to force a solution to the problems with some urgency. Kim has stirred things up enough to actually force action from all parties involved. Bouncing back from bankruptcy would be difficult in my opinion. Kim appears to be doing everything possible to save the business and avoid bankruptcy. That is a very positive sign in my opinion. It's an extremely risky bet but my money is still on Kim. I expect we will know one way or the other very soon! Happy trading everyone!
j dahan has 12mm shares...pk would have about 8mm shares...that is serious coin.....ill bet 20k...pk loses 14.5mm and dahan loses 12mm...I I will lose 20k...if they will...im moving on up
KIm keeps 100 million JooJeans BK deadbeat. on the moula .question how much of this was prearranged? how much commission #$%$ get if any from LA playboy Kimmy ? huh ?
Ur#$%$ who tried to by time buying revenue failed again BUT is still controlling the #$%$sheep buddies on the BOD...lot's of drama for the sheep but these boys got the CASH and shareholders got the BAG
Green, Difference was that Fireman wanted that premium price that PK could not afford himself or for that matter another equity firm he would need to bring on. Now is the prime time for him to step in as he will likely get Hudson for 50% of what Joe's bought it for in a distressed environment. Joe's either gets forbearance agreement with its creditors or they try to find alternate or renegotiate with a longer term on the loan. As it stands right now, they would be better off selling Hudson, but they even know they will eat the cost of that acquisition even more so than have (or we have). The best they can do is get 50% of what they paid for for Hudson in the first place and the rest they spend years paying off and then the current BOD and management can continue their inept ways. but hey, what do i know. I am just looking at companies like Photomedix who did basically a similar thing.
I think it was Fireman's that wanted to sell Hudson, Kim was happy with the deal because he retained control of Hudson and got a seat on the Joe's board. Then the shi*t hit the fan. Now they are all scramming around like chickens with their heads cut off. I would think Kim is trying to salvage as much as he can. When the deal to buy Hudson was signed, I thought it was a mutual consideration of Joe's and Hudson management, they both were in favor of the deal. Now Kim resigned from the board creating a split in management. Why did Kim resign?
the fact is I own 2 of their coats and I love them.. wonderful products.. that is why I bought in.. was not paying attention to the management.. I hope they find a way to stay in business with a new management..
I think it is mostly wishful thinking at this point, something may happen with Peter Kim and Joes/Hudson. I don't think Kim wants to lose Hudson and is looking for some arrangement that will allow him to keep the company. Joes, on the other hand is subject to more pain from the gross mismanagement and turmoil from the debt crisis. Getting a new debt deal with more favorable terms is a must if they manage to drag Joes of the gutter, dress it up with a new image. The market for jeans is changing and adjustments have to be made.