Veterans welcome, no doubt.
See BusinessWire presser.
My guess is that Rite Aid's management has been promised sweet employment contracts with WBA so they have no incentive to work hard for RAD's current shareholders.
Myron, old sport. You must be reading somebody else's post, then responding to words I didn't write. I'm not doing any crying. I can afford to take my lumps.
Actually, I'm quite conflicted in my view of Centrus because I come at it from about four different angles (roots in Ohio, politically a Libertarian, citizen, investor). You get the drift.
I just think this one is more complex that simply calling it corporate welfare. Private investors have lost virtually everything. The government purchased an option on an energy future that was undetermined and its loss is still TBD. Of the two (investors and government), who is worse off?
Yes, there was corporate welfare in the Usec/Centrus funding. It's just a LONG way from the worst case in history.
But here's a good solution for you. If you don't like what I write, please put me on ignore.
Last post for me on this link. I have taxes to pay . . . .
We have a customer sale of a small position in the bond today at 22.545. That's the first reported transaction since Oct. 5.
"I don't know the exact amount but I would guess the government has put at least a billion dollars in this failed venture in the last 10 to 15 years."
So assume that that's the cost number. It would be a bargain at twice the price. (My conjecture is that, if the government had built it itself, it would paid three times the price.)
Think of it like a DOD weapons system that sits on the shelf and never gets fired, then eventually ends up on the scrap pile as obsolete. But ACP is better than that because it still may be fired and ain't yet obsolete.
". . . the centrifuge plant is a great example of corporate welfare."
As a long-time shareholder, some how I've missed my benefit check. Seems more like the Company shareholders provided the public benefit at great loss. With the help of hindsight, the value of that benefit may be hard to find but that's not the Company's fault or even that of the public-private partnership. Who predicted rock bottom natural gas prices, unfair competition from foreign governments, and the Fukashima contamination, etc.?
The future economic benefit may yet be realized (I hope against long odds).
"The U.S. Department of Energy (DOE) has informed Centrus Energy it will end the American Centrifuge project in Piketon, Ohio, on Sept. 30."
But this turned out not to be true, no?
So I completed the get-my-grade teaser for my small business on the Dex Media pop-up ad. And immediately got my grade: 12 out of 100. Pretty sorry, eh?
About ten minutes later a very professional representative called me from the Company offering to put my business on the map, so to speak. I was impressed but no thanks.
The irony of all this is that my little business with ten employees is worth more than the entire market cap of DXM. And I don't owe $2.3 billion dollars to anybody either!
I've seen the add on several sites. It starts with the question, "How easy is it to find your business?"
That's followed by, "Find out with our tool" or words to that effect.
When you click on the tool, it takes you to a form to complete. That's as far as I went.
Presumably the tool is a tease to get small business owners to become leads for Super Pages, or whatever.
The original bloodsuckers were Verizon's management. Everything since has been a case of Verizon's victims attempts to find their least bad choices.
The creditors should convert their $2B in bonds into new equity for 98% of the Company.
Saves bankruptcy costs and it leaves the common shareholders immediately better off since 2% of the restructured company would be worth more than 100 percent of what we own now.
"'Therefore, I oppose it,' she said."
What she was really saying is, "I can't let Bernie to get to the left of me on this. I may lose the union vote to Joe, should he declare, but I'll likely lose them to him anyway. I just need to get the Democratic nomination, which I can do with the lefties, and I'll have the union support in the general v. any Republican."
"USEC profited greatly by the Russian SWU deal."
Apparently Usec did not profit enough or it wouldn't be in such deep do-do.