China as an entire country, bankrupt? That is a ridiculous statement. They have individual companies filing for bankruptcy but not the entire country. Their GDP has fallen but it's still more than 3 times the US GDP.
CF that analysis is dated October 12th, 2015. You can go to Linn's website and see the latest earnings reported on 11-5-2015 which shows no oil hedges in 2017.
"Is MCC going bankrupt soon?"
Just curious what your definition of "soon" is and why you would even mention it. The total value of their investments recently reported is over a billion dollars ( $1,115.1million) They have a cash balance of $24.1 million and have used $89.2 million of their $343.5 million senior secured revolving credit facility. I see NO danger of BK unless the US falls into a very deep recession which is VERY unlikely.
Thanks that link did open but it's dated 10/12/2015, my information came from the last earnings announcement on the Linn website and was dated almost a month later on 11-05-2015.
Actually I'm glad you brought that up because the big increase in our national debt did start with Reagan and was dramatically increased by both Bush's. When Reagan took office the debt was $1 trillion. When he left it was $2.86 trillion. So $1.86 trillion for him. Then Bush-I added $1.55 trillion. Total so far: $3.4 trillion. Then Clinton took over.
Now the national debt is like a mortgage, and so the bigger it is, the more interest must be paid on it. Without the extra Reagan-Bush $3.4 trillion, there would have been a few hundred billion less in interest on the debt every year under Clinton. That interest adds another $2.3 trillion to the Reagan-Bush debt. Then Bush II increased it by $6.1 trillion to $11.8 trillion. And interest on that has been increasing the debt under Obama. The total Reagan-Bushes debt is now $13.5 trillion. Most of Obama's debt was used in the first 2 years of his Presidency to restart the economy. Now combine this debt, most of which originated during the golden years of Regan with his tax cuts for the wealthy AKA Voodoo Economics which have also added to the debt over the years and you come to the conclusion that yes it was Reagan's fault.
Hey Jeddie I don't want to be a Debbie downer but I seriously doubt Linn will be around for us shareholders after April of this year. They have another redetermination coming in April and more than likely the restructuring will begin before that. They just borrowed all the money they had left from their credit base and that won't be replenished in April. The writing is on the wall.
A Chapter 11 plan allows a debtor to reorganize, or in other words, restructure, its financial affairs. A Chapter 11 plan is, in effect, a contract between the debtor and its creditors as to how it will operate and pay its obligations in the future. Most plans provide for at least some downsizing of the debtor’s operations to reduce expenses and free up assets. In some cases, “liquidating plans” are proposed to provide for a total shutdown of the debtor’s operations and the orderly sale of its remaining property.
My hedge numbers came from the 3rg quarter earnings results posted on 11/5/2015. Where did you see 30% oil hedged in 2017? I can't find that info anywhere.
Not concerned with the their exposure to oil which sits at 5.1% and is spread across upstream, midstream and downstream sectors. MCC is a screaming buy here which is my opinion and should be treated as such.
MCC’s energy/oil & gas exposure is 5.1% of the portfolio representing 4 positions in total, and is in line with BDC peers • 100% of MCC’s exposure is in the form of 1st lien senior secured loans • The companies are service businesses with revenues diversified across upstream, midstream and downstream sectors
For expected oil production, the Company is hedged approximately 90 percent for the remainder of 2015 at an average price of approximately $88 per Bbl and approximately 70 percent in 2016 at an average price of approximately $90 per Bbl. No oil hedged in 2017.
The problem is that these assets will bet marked down as companies like Linn have fire sales. The buzzards are circling overhead and will wait for the BK's so they can take advantage of them. Unfortunately time is not on our side.
I checked the site as well and none of the complaints say anything about energy costs in fact the majority of the complaints have been resolved. I also know someone who has this system and doesn't pay any electric bills from March through October and other months pays far less than before, which is a considerable savings and will pay for his system in a short time. I think gunn has an ax to grind for some reason and has chosen this outlet to vent.
I prefer CVX over XOM anyway. Check out the B2B's like PNNT and MCC. They are still paying strong divvy's and have very little exposure to oil and gas.
I actually think KMI looks pretty good here. They are worth about 32 billion and aren't going belly up. I bought some at $15.50 recently but I'm dipping in slowly very slowly.