You can rest assured this was no inability by MIR to do the math correctly. They know exactly what they are doing and that is to interpret the agreement terms, where no interpretation is required, to further enhance their own pockets. Everyone has now voted on the revised POR and now they change the terms? The judge will hopefully end this charade tomorrow by repremanding them in the courtroom and making an example of their behavior over the last several months. This should be covered by the media to the greatest possible extent. He should cap their litigation fees at $1.
The Creditors would not have approved young folks with no resume in BK. How do you expect that to have passed GO?
So after they get in, they evaluate who stays and who goes. I always said that house cleaning was necessary and expected, and hope that they rid all the deadwood ASAP. You should see what happens when firings start happen. Everybody becomes workaholic team members fast. It ain't easy to get those cushy jobs anymore. The employees know the company is not going BK anymore and they will want to stay and share in a piece of that new 5% cream-pie.
It seems completely consistent that the deal be chipped away at for all eternity if they can keep the file open.
I also still wait with interest to see the number of shares of Newco that will be issued.
Not much to do now but wait and see what really happens. Vote is over.
Muller found out Michele Burns couldn't add so he fired her. Now he has to remove the crap laid down by this rotten CRO before he gets blamed. Maybe this is the good cop, bad cop act. If the judge has to fix this problem, Muller is going to appear sleazy right from the git go.
I just assume Muller got rid of Burns so he could bring in his old pal as CFO to help him break up Mirant, sell off the pieces ASAP, and then ride off together into the sunset with multi-million-dollar paydays.
Grow up, check the facts, do something useful, stop crying, add value, and don't post so much. You're showing your immaturity.
I've been holding back for along time to respond.
< I CAN'T WAIT for all this to be over with... >
I can't wait for 'the book' to come out so maybe I can better wrap my head around most of the stuff that has happened behind the scenes. Guess the general lack of presumed ethics is more common than I had naively assumed. Better try to find the filing and see what's up.
best wishes, Bull