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Johnson & Johnson Message Board

sports_jjunkie 1359 posts  |  Last Activity: Apr 14, 2014 2:08 AM Member since: Mar 21, 2012
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  • Reply to

    Kodak to Offer Eastman Business Park for Sale

    by sports_jjunkie Mar 30, 2014 10:12 PM
    sports_jjunkie sports_jjunkie Apr 14, 2014 2:08 AM Flag

    Nice article by Mathew Daneman March 25, 2014 Eastman Business Park for sale

    Some points made by Mathew Daneman:

    complete with is own power generation, water supply, steam and compressed air generation capacity and fire department.

    I don't know I've ever seen a facility this size come on the market

    The creation of that clean-up trust fund was a big reason why the park now is for sale.

    ***************************************************

    The clean-up trust fund was established prior to EK exit from BK.

  • Kodak Business Wire March 25, 2014.

    When you have a chance review doc 4619. The sale of EBP or the preparation for the Sale of EBP took place before EK exited BK. There were environmental concerns with the State of NY that EK had to deal with.

    I think one very important reason why Equity was not part of the deal is because a lot of the documents were sealed to Investors to review and challenge their findings.

    Since Judge Gropper said Equity had no value, ALL DOCUMENTS SHOULD BE AVAILABLE FOR PUBLIC VIEW SO VALUATIONS COULD BE SCRUTIZIED.

  • sports_jjunkie sports_jjunkie Mar 30, 2014 2:15 AM Flag

    kid

    from Kodak Businesswire March 25, 2014

    KODAK TO OFFER EASTMAN BUSINESS PARK FOR SALE

    Since you held unsecure debt and got a fraction of the new company, what do you think of how the Court treated the unsecured?

    The sale of EBP was in the planning stages for a while and the Court could have waited 6 months to come to a settlement.

    ALL DOCUMENTS SHOULD BE UNSEALED, INCLUDING DOCUMENTS PREVIOUSLY ISSUED. THERE ARE NO REASON TO BLOCK ANYTHING UNLESS ITS FOR COMMERICAL VALUE TO THE COMPANIES INVOLVED.

  • sports_jjunkie by sports_jjunkie Mar 26, 2014 7:19 PM Flag

    Since Equity was found to have no value in Kodak BK Case No. 12-10202, all documents that were sealed should be made available for public view.

    All Commercial Information should be redacted by the Court if they are important to the companies involved, but what took place on the patents and the valuations should be made available to the public.

    In light what took place with Lehman Brothers, Kodak Equity Investors should have a clear idea what the valuations were.

    If someone is close to Court and can make this happen, this will go a long way in settling the issues.

  • sports_jjunkie sports_jjunkie Mar 23, 2014 10:24 AM Flag

    Coming up at the end of March 2014, is the request for documents for Gov. Christie Staffers, Kelly & Stepien. If the Judge rules that they have to provide the documents re to the GWB lane closures, then we might get more revelations on how Gov. Christie used Sandy Storm funds.

    The Prosecutor for the NJ State Legislature is someone that might bring all these facts out.

  • By Matt Friedman/The Star-Leger February 1, 2014.

    Google this story on the internet.

    Why did E & Y need to hire Gov. Christie's brother?

    E & Y played a pivotal in EK's BK especially in the carve-out valuations. Alix Partners, former E & Y Staffers, were the restructuring Agent.

    I recall reading one of the E & Y contract for additional work stating that they would be liable for only the amount that they were compensated for.

  • Reply to

    Hey! Whens That Phuken Buy Out?!?!?!?!?!

    by stockboardguy Dec 18, 2013 1:43 AM
    sports_jjunkie sports_jjunkie Mar 6, 2014 12:03 AM Flag

    There were a lot of documents sealed by the Court to prevent outsiders from viewing what was taking place when EK went into BK. If EK had no monies for equity investors then those documents should have been open for stockholders to review.

    The hiring of E & Y of Gov. Christie's brother Todd for the Sandy Storm Monitoring should have been a telling sign. The investigation into how the Sandy Funds were being used is on going.

    This is another high profile case that just came up.

    COURT REVIEVES NY CLAIMS TO ERNST & YOUNG FEES FROM LEHMAN AUDITS.
    by Karen Freifeid Reuters February 20, 2014

    A NY state appeals court on Thursday revived the NY Attorney General's claims for $150 million in fees that Ernst & Young earned from Lehman Brothers Holdings in the years leading up to the bank's collapse.

    The state wants to recoup the fees as part of a lawsuit against E & Y over its auditing of Lehman Brothers. The 2010 lawsuit accuses the firm of assisting Lehman in accounting fraud.

    In a unanimous opinion, the appeals court said that, when a claim is based on fraudulent activity, disgorgement of the fees is available as a remedy.

    This is a very powerful charged levied on Ernst & Young. NY accuses the firm of assisting Lehman in accounting fraud.

  • Reply to

    Hey! Whens That Phuken Buy Out?!?!?!?!?!

    by stockboardguy Dec 18, 2013 1:43 AM
    sports_jjunkie sports_jjunkie Feb 6, 2014 11:01 PM Flag

    I guess someone is very nervous of what is taking place in New Jersey with the Sandy monitoring.

    Just some recollection after EK's BK.

    When EK went into BK, the restructuring firm was not Alix Partners. Alix Partners replaced the firm after EK went into BK.

    The Auditing/Accounting firm was for EK was PWC before BK and after BK.

    The head of restructuring firm for Alix Partners came from E & Y.

    When Alix Partners took over, they had AP fire their CFO who had been there for a while. Alix Partners claim that she didn't know enough about Bankruptcy. Alix Partners then installed one of their own as CFO.

    If you can shed some light on how E & Y is monitoring the Sandy Funds, this might shed some light on how E & Y dealt with EK's Bankruptcy.

  • Reply to

    Hey! Whens That Phuken Buy Out?!?!?!?!?!

    by stockboardguy Dec 18, 2013 1:43 AM
    sports_jjunkie sports_jjunkie Feb 1, 2014 10:14 PM Flag

    SBG

    This came across the news today re Ernst & Young. Ernst & Young was hired after the Sandy Storm by Gov Christie to monitor how Sandy Funds were being used. E & Y then hired Gov Christie's Brother Todd. E & Y claims that Todd had no involvement with the Sandy funds but it seems very strange why E & Y would hire Gov. Christie's brother.

    E & Y did a lot of critical valuations for EK. I think we should monitor how E & Y in handling the above very seriously.

  • Reply to

    sports - are you ready for a run up ?

    by updated.robot Aug 20, 2013 12:31 AM
    sports_jjunkie sports_jjunkie Aug 26, 2013 2:06 AM Flag

    2 important factors remain in this case. The Trustee objected to the POR and the Insurance Company did not assume the liability on exit for EK from BK. The liability was assumed by EK.

    Judge Gropper signed doc 4885 on August 19, 2013 EBP Settlement Agreement.

    No mater what happens, Equity has a stake in EBP. It may not be in the next 6 months maybe 2 years from now but since this Agreement was approved by the Judge, it becomes a valid argument for Equity since this was not disclose on Confirmation on August 20, 2013. Who was the purchaser of EBP and how much did they pay for it?

    Since the Trustee objected to the POR, the Civil Lawsuits should have access to the files of the Trustee.

    Disclose:

    I own no shares of EKDKQ at this time. I sold on August 20, 2013 when Judge Gropper Confirmed the POR.

    Important docs to keep in mind

    4100 Motion EBP Settlement Agreement

    4885 Order Approving EBP Settlement by Judge Gropper

    4890 Statement of Official Committee of Unsecured Creditors

    4900 Corrected Amended Agenda August 20, 2013

  • Reply to

    Class Action and takeover

    by terragord7 Aug 21, 2013 3:47 PM
    sports_jjunkie sports_jjunkie Aug 23, 2013 10:17 AM Flag

    This was a good fight between Longs vs Shorts. If you a nervous about a stock you should sell because you are not convinced. There were good reasons to hold on because the Trustee Objected to the POR.

    Longs are down but maybe a ruling later on could benefit Longs even if Longs sold on Judge's decision.

  • Reply to

    Class Action and takeover

    by terragord7 Aug 21, 2013 3:47 PM
    sports_jjunkie sports_jjunkie Aug 23, 2013 10:08 AM Flag

    If a buyout were to take place,IMO, the liability for EK,Judge, & and all the parties would be very large considering the Judge made his final decision.

    If a buyout were to take place, who owns EK, old stockholders or new stockholders? Just to complicated.

  • Reply to

    Class Action and takeover

    by terragord7 Aug 21, 2013 3:47 PM
    sports_jjunkie sports_jjunkie Aug 23, 2013 9:53 AM Flag

    updated

    I sold late in the day when Judge Gropper gave the final decision which about 3PM. Reading the dos the Judge has disagreements with the Trustee.

    Its a good time now to review what the Trustee knows about this case.

    The Insurance Company wanted no part re liability issues re exit from EK's from BK.

  • Reply to

    Class Action and takeover

    by terragord7 Aug 21, 2013 3:47 PM
    sports_jjunkie sports_jjunkie Aug 23, 2013 9:45 AM Flag

    terra

    Keep us inform re Class Action. It looks like the Insurance Company got EK to assume the liability part.

  • sports_jjunkie sports_jjunkie Aug 20, 2013 9:03 AM Flag

    Investors in Eastman Kodak

    Investors have a right to know who the purchaser of a major asset like EBP. The also have a right to know how much the purchaser paid for EBP.

    Judge Gropper signed the EBP Settlement Agreement on Monday August 19, 2013 .

    The Trustee has made their Objections to the Third Party Lease.

    Whatever happens today in Court, Longs will go from there.

    This is just a statement.

  • Reply to

    sports - are you ready for a run up ?

    by updated.robot Aug 20, 2013 12:31 AM
    sports_jjunkie sports_jjunkie Aug 20, 2013 2:29 AM Flag

    Investors have a right to know who the purchaser is and how much the purchaser paid for EBP.

    This squarely falls on Alix Partners and PWC.

  • Reply to

    sports - are you ready for a run up ?

    by updated.robot Aug 20, 2013 12:31 AM
    sports_jjunkie sports_jjunkie Aug 20, 2013 1:31 AM Flag

    updated

    See if SBG can get the purchaser of EBP or make someone come with a name.

  • Reply to

    sports - are you ready for a run up ?

    by updated.robot Aug 20, 2013 12:31 AM
    sports_jjunkie sports_jjunkie Aug 20, 2013 1:26 AM Flag

    updated

    Just reading the docs.

    Here is the Longs Long Shot to stop or adjourn the Confirmation Hearing tomorrow. 2 important things happen today. Judge Gropper signed the EBP Settlement Agreement, doc 4885, and the UCC approved the POR, doc 4890.

    In doc 4890, the Trustee objects to Third Party Leases. This is the KEY. WHO IS THE PURCHASER OF EBP THAT JUDGE GROPPER SIGNED WITH DOC 4885.

    Doc 4100, spells out that EBP is sold and EK & DI/PI must lease back.

    WHY DID THE UCC AGREED TO THE POR JUST TODAY?

    IF LONGS CAN BRING UP THIS ISSUE AT THE CONFIRMATION HEARING TOMORROW THIS WOULD BRING SOME CONCERNS FOR JUDGE GROPPER TO APPROVE THE POR. THE TRUSTEE IS DEAD SET AGAINST THIS ISSUE.

    IMPORTANT DOCS TO READ TONITE:

    4100 Motion EBP Settlement Agreement

    4885 Order Approving EBP Settlement by Judge Gropper

    4890 Statement of Official Committee of Unsecured Creditors

    4900 Corrected Amended Agenda August 20, 2013

    ,

  • This was just signed by Judge Gropper. This might include the sale of the EBP if you read Doc 4100 as it relates to.

    IMO, if EK raises more than $250M, this sale could replace the Rights Offerings.

    There is no mention of who the New Owner of EBP is, if there is a new owner.

    This is a movie that is worth the price of admission.

  • sports_jjunkie sports_jjunkie Aug 19, 2013 11:03 AM Flag

    This is another major issue with EK management. EBP is a major asset of EK. There was a Court Hearing on Friday, August 16, 2013.

    There is NO communication to Investors of the outcome on Friday.

    The Trustee has brought this up with their Objection to the POR re Full Disclosure.

JNJ
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