I see the debt as being the final hurdle right now. Refinancing that portion, however relatively small it may seem, will give them a chance back on the road to recovery.
At this juncture, and based only on the "mood" of the goodfellas (CC), I'm not encouraged that it's going smoothly (debt refi).
Obviously, (at the least) they'll have to promise the farm to get anywhere. IMO.
Of course, with the refi and no other events, most everyone here will be healthy as well.
I agree ciggy,
Negotiating a "buyout" when you have leverage is a good thing...ie)somebody what's you more than you need them.
We are not in that position IMO.
Right now TWK needs a buyer worse than a buyer needs them.
I see a buyout as being worse for us shareholders. We will be left swining in the wind. IMO.
Praying for debt neg no matter the costs.
>>>I will contend that the info Hunte afforded to you by phone, was contrary to the doom and gloom of this report and CC and if false disadvantaged us on this board. <<<
Life is a moving Train, things are not static. With a recovery play, there will be swings up and down in mood. They were encouraged, back in Dec, LOC in place, new earnings coming in etc.
As they completed the reserve audit, it became apparent they needed to increase reserves further ($107 Mil), then 4Qtr statement, things looked uglier than thought.
Now, they are on both knees trying to renegociate. Definately they are not negciating from any position of strengths.
The only Bullet they have is, Debt holders may be worse off in BK than taking a wait an see position. (And Balance sheet seems cleaned up).
Stumbled on Becker's contract. You'll be interested to know that he does not get paid for doing other stuff. He has to sumbit a claim end of the month for the work that he has done for TWK. However, he's under obligation to give 75% of his time to TWK...
Hey, save a little here, save a little there...
and pretty soon it adds up to real money...jad
yes I would agree -
never laugh so hard in my life
Trenwick is what dreams are made from
I'm planning on buying bigger clothes, my balls are getting too BIG from holding TWK.
just need to keep the wife happy
Good news - I send her to Chile for 3 months and it only cost me $750 dollars.
Good news - I found her stash of cash in the closet ($5000) and I invested the funds in TWK. ( still need to replace it)
Good news - she still in Chile (hope the stock goes up in two month)
Good news - I bought $250,000 worth of life insurance last month (hope she does not kill me)
if you read in the Seattle Times - May issue 2003 "Chilean women kills - electrical engineer"
dead of twk000jester
you we're good
I'm listening to the conference call now...
O'man "Dick Wine'O" - 30.00
Opening remarks - 30.05
Number One son offer - 31.15
Captain of the ship? - 31.50
AIG - $50 trillion under reserve - 32.05
Cutting cost - 32.15
Senior debt - Whatever? - 32.40
Am I correct? - 33.15
Is their hope? - 33.19
Do you have the means? - 33.35
Ok good! - 33.50
Guidance from #1 son - 34.15
Pricing product 101 - 35.00
Simple question of pricing - 35.50
Just give me an average? - 36.00
I understand and I still have some marble at 77 years - 36.50
Pricing 101 - 37.15
I understand! - 38.00
Gray area! - 38.30
Not good enought! - 40.00
If I have another questions I will be back! - 40.45
Anymore 911 that we don't know about since the first of the year? - 40.45
Profit 101 - 41.45
Now I see and I need to go the race track - 42.25
Good-by - 43.00
I'm planning on selling Cd's of the TWK confernece call on E'Bay
need to work on stock market and sound interface
still holding and laughing
I never thought any private investor would be allowed to ask a question so I never thought about it or prepared any questions. I just tried when I got aggravated over the old man. I figured I couldn't be any worse than he was.