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Krispy Kreme Doughnuts, Inc. Message Board

  • perspicuator perspicuator Jul 29, 2005 12:52 PM Flag

    Success fee announcement

    Maybe the reason we haven't yet seen an 8-K filing about the success fee is that they can't just re-type their previous letters. They need to come up a new excuse for the postponement.

    After all the doings revealed in the court filings, and the statements about how KZC has yet to come up with any kind of recovery plan, "immersed in the financing and operational restructuring efforts" won't' really cut it.

    Or maybe Weil Gotcha (or perhaps even the NYSE) told Cooper he's got to disclose something more, perhaps just tell us what we already know about the lawsuits, or perhaps a sales update, or maybe we'll get really lucky and learn something more.

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    • Sorry if that was too harsh and appreciate you taking it with good humor. With regard to the other, suffice it to say that I'm not enamored of your politics. In particular, when I see you throw around comments about the U.S. becoming a "fascist state" I find it both stupid and repugnant. I managed to hold my tongue prior to that last post.

      Maybe we could confine our discussion to Krispy Kreme and closely related topics, i.e. whatever else Kroll is up to.

    • Mungerian:
      Thanks for the tip on reading. My 5th grade teacher suggested the same thing half a century ago. [Speling was never my strong soot niether.]
      You are right, as always. Nowhere did you suggest what you did not suggest. And had I suggested otherwise, I would have been wrong, as usual, as well.
      One of the first things I learned on this board was never to cross Mungerian -- ever, even in my nighmares. Alas, on sleepless nights, even nightmares forsake me and I'm left to consort with the evil twin of my muse and the result is unspeakable disaster.



      p.s.: Now, Fidel. There's one to cherish. If one is to be called names, why not something sweet? You are so thoughtful.

    • Work on the reading comprehension Fidel. Nowhere did I suggest that SP doesn't know the ADs are financial basket cases.

    • <<[The KKD Board] can dismiss Cooper at its leasure >>

      They certainly have the power to smear egg all over their faces. One of the conditions under which the Board borrowed $225,000,000 from SP & Friends was that there won't be such a dismissal.

    • <<cooper's milking of the company, to the detriment of sp>>

      ... unless there's more to the Kooper/SP tango than meets the eye.

      Remember Kooper gift-wrapped and delivered the company to SP in secret -- brushing aside raised eyebrows when the Courage/Hall overtures were rebuffed. Who knows what manner of conflicts of interest pervade the Kroll-SP-KKD relationship? Remember, also, that SP is, at least so far as we can see, placidly watching KKD's assets, including goodwill and borrowed funds, go down the drain.

      The conclusion that jumps at us at this point is that all the milking of KKD that Kroll is currently doing is sanctioned by SP and all the milking SP is going to do in the future is sanctioned by Kroll.

    • <<Looks to me like Silver Point is being tight-fisted with the cash and running the four corners offense, hoping the ADs will get on with it and fold.>>

      KKD/SP's refusal to help the ADs may not have anything to do with a desire to see the franchisees fail. Here's a simpler, somewhat benign explanation: KKD/SP has at its disposal "the-big-picture" view of the donut company's true fiancial status as well as awareness of what is in store -- the certain demise of every AD no matter what. Will anyone with half a brain extend financial help to an enterprise that is demonstrably doomed?

    • <<Why did GE and BNS agree to kkdc as the dip financor, then?>>

      because they didn't want the canadian equivalent of ch.7. they believed that selling the entire thing as a going concern is the best option, whichit turned out not to be.

    • <<1A23-0006-7130-1200-0000-4023>>

      because they didn't want the canadian equivalent of ch.7. they believed that selling the entire thing as a going concern is the best option, whichit turned out not to be.

    • wow;
      interesting news;

    • Why did GE and BNS agree to kkdc as the dip financor, then?

      Also, did you see in the Hillcrest letter (last document) that kkdc wants the equipment back; GE said fine, but we own it, and you need to give us fair market value for it. kkdc is then going to be in the awkward position of saying the equipment is worth far, far less than what kremeko paid for it (and what other franchisees paid for it).

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