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BB LIQUIDATING INC. Message Board

  • jerrynewburger jerrynewburger Apr 22, 2012 1:07 PM Flag

    rural broadband

    for awhile now i've been following the lightsquared saga. now falcone has squared up with inmarsat, and will focus on getting FCC approval. as far as i know, icahn still has significant paper. they met in a high priced nyc restaurant recently. they want to bring 'wireless' broadband to rural areas. (quote from lsqared paraphrased). what caught my attn was the 'rural', as that is really the DISH baliwick. also, somewhere i saw a new drawing of the 'spot' sat downlink idea, which will then link to earth towers. & something about band striping or something which i didn't focus on as out of my technical 'range' ha ha. my point here, being that Lightsquared seemed down-for-the-count, and they are not. Falcone didn't play hockey for nothing. i don't think he gives up easily. and could DISH be in there somewhere? there is icahn. and 'wireless' broadband means: tv.
    on your phone.
    Is Blockbuster coming to your phone? more phones than now?

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    • " Do you actually think that Jay Indyke would sit and do nothing for his clients while Dish gets all the benefits of the brand name?"

      i watched the la lakers get whooped the other night by the spurs and at the end of the game kobe was on the bench same thing when you have lost you have lost and block 2012 unsecured is down 20 just like the lakers but poor billynewburger thinks shareholders who are out of the money by over a billion will get paid in a chapter 7 liquidation why is he so confuthed ??

    • Blobq: Do you actually think that Jay Indyke would sit and do nothing for his clients while Dish gets all the benefits of the brand name? You are very naive if you believe that. I am sure the unsecured is getting paid either through equity or cash.

    • "Wouldn't you expect some kind of a distribution from the Ch 7 proceeding. Isn't that what Ch 7 is all about? You know, liquidating all assets and making a distribution to parties in interest. I am rather expecting a distribution to shareholders as well."

      you are retarded a chapter 7 distribution to shareholders who are over a billion out of the money ?? do you even know how ridiculously stupid that statement is ?? are you really this dum or are you just messing around ?? were listening.

    • How might the court calculate a 'new value'?

      1. compared with a pre POR value around 15 million, all to senior class, 0 to jr, 0 to equity & disolved via ch.7.

      2.compared with a POR,

      ----

      POR with full sr. notes, and jr. / value would be the approx. 500 mil of rolled over notes, 300 mil of jr. participation (forgiving), and a value of a new enterprise (use HULU and say 100m). = a determined value of 900m.

      that # is put against the impaired liabilities of 800m (approx) {sr. & jr notes).

      leaving an 'excess' of 100m (cannot have that as can't just 'give' money to commons that rightly should be owed to creditors.)

      that is made ok by issueing additional stock, which is arbitrarily assigned a value of (100m as the jr. impaired class 'accepts' it in the POR.

      leaving at the end of it: the common shares remain, but are 'diluted'.

      now, this may seem like some sort of parlor trick, and in a way it is. but, to the best of my current understanding, is an actual way in which the court could 'calculate' a POR and achieve preservation of the shareholders. (* w/o warrants and other complications i might add)

      who will take the major hit? the jr. noteholders, but they will get a % in the form of equity, at least as i've outlined here.

      Now of course this is real rough back-of-napkin stuff, but broadly, is how it can be done.

      Our bankruptcy is remarkably pure and simple. only 3 impaired classes and the majority of debt owed to one class. a POR is very doable imo.

    • now, what is necessary for our shell?

      a POR in which there is a reasonable chance of success.

      al least one of the impaired classes must vote 'for'.

      If the 'new value' of the biz, re-organized, is determined and shown to be higher than the incoming value (if there were a ch.7 conversion, minimally), then that 'excess' value 'allows' the commons to survive intact. there is no 'gifting' to them as a class, as the value post POR comes from the POR itself, not as a 'gift' from or a taking from, another impaired class. This is critical, believe me.

      it will help to have a comparable; HULU might be one.

      • 1 Reply to jerrynewburger
      • Me, I'd say being in business would be very necessary for your shell "jerry". Not having any business operations, assets or revenues really makes it hard to "R" something. Not to mention $1.3 billion in liabilities on the balance sheet. That and being under order from a federal judge to consent to the entry of an order, by him, of a CH 7 conversion once they have distributed and set up specific reserves for all their remaining cash, which distribution is taking place now.

        Other than all those little nuances, good luck!

    • putting together a puzzle:

      a. need the sats (DISH? Inmarsat?)
      b. the 'spot beam' towers (Srint? ATT?)
      c. spectrum (Lightstquared? ATT?)
      d. retailing, sales & marketing (Blockbuster shell
      e. content ( UV + Trust?)

      f. financing (Icahn?) (venture capital fund or private equity fund)

      g. demand side products (phones & tablets) samsung, lg, google, etc. everyone not apple

    • falcone is done you have no idea what you are talking about jerrystrouss nol nol.

 
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