#21
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I used to work for Movie Gallery. Hate to see anyone put out of a job, but a lot of the stuff I'm hearing on here about the bankruptcy is the same stuffed we used to discuss. Don't care much about BB shutting down. But as employees, I hope you don't travel down the same path we did. It was our second re-org. bankruptcy that we were going thru and the judge didn't approve it so next step was liquidation. Isn't this BB second filing within about the same time frame as Movie Gallery's?
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#22
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No, blockbuster has never filed bankruptcy.
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[SIGPIC][/SIGPIC] ╭∩╮(︶__︶)╭∩╮ Even the Devil, which is the main share holder of blockbuster is saying you guys are making me look bad! Horse Power is how fast you hit the wall. Torque is how far you take the wall with you. |
#23
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The company's official stance is they have to discuss the worst case scenario in fillings to the SEC. Our senior debt holders who owm about 70% off our debt continue to work with us and allow us to put off the payments while we work on recapitialing and restructuring. In the worst case scenario if restructuring didn't work, then we would be forced to file chapter 11 which is simply debt relief so we could continue to operate and restructure. If still unsucsessful then we could be forced into chapter 7 which is where you have to close stores and liquidate. AGAIN THAT'S A WORST CASE SCENARIO AND YOUR REQUIRED TO DISCLOSE THIS FOR INVSTORS. THE COMPANY "DOES NOT SEE ANY REASON WHY WE CAN'T RECAPITALIZE" CLEARY THE MOVIE STUDIOA BELIEVE IN US AS YOU CAN SEE WITH THE 28 DAY WINDOWS ITS NOT IN THERE BEST INTEREST FOR US TO FAIL THEY MAKE A LOT OF MONEY FROM US. OTHER STRATEGIC PARTNERS LIKE COMCAST, TMOBILE, VERIZON, SAMSUNG, TOSHIBA AND TIVO BELIEVE IN US THEY KNOW WE OWN ALL THE DIGITAL RIGHTS ITS NOT IN THEIR BEST INTEREST FOR US TO FAIL, AND LASTLY THE DEBT HOLDERS BELIEVE IN US AS THEY CONTINUE TO WORK WITH US AND NOT FORCE US INTO BANKRUPTCY THAT IS NOT IN THEIR BEST INTEREST. Certainly the market will change and stores that can't turn a profit will inevitabltly have to close, but there's no reason all stores will have to close and I really don't believe blockbuster will go out of buisness.
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#24
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<<Hands ufo SM shovel so they can dig their head out of the sand>>
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For those who believe no explanation is necessary.
For those who do not, no explanation is enough. |
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#25
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Quote:
__________________
The postings on this site are my own and do not represent Blockbuster's positions, strategies, or opinion. The postings on this site are my own and do not represent DISH Network's positions, strategies, or opinion. |
#26
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__________________
[SIGPIC][/SIGPIC] ╭∩╮(︶__︶)╭∩╮ Even the Devil, which is the main share holder of blockbuster is saying you guys are making me look bad! Horse Power is how fast you hit the wall. Torque is how far you take the wall with you. |
#27
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lol, somebody doesn't read threads before posting in them. : )
__________________
[SIGPIC][/SIGPIC] Don't believe in yourself - believe in ME! Believe in the KAMINA who believes in YOU! |
#28
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Quote:
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#29
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MOM, hes gonna need a lot more then a shovel...i suggest a bulldozer
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The Following User Says Thank You to TheShooter87 For This Useful Post: | ||
HelloItsMeMOM (August 17th, 2010) |
#30
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But the Kool-Aid is delicious.
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The Following User Says Thank You to orbitdvd For This Useful Post: | ||
HelloItsMeMOM (August 17th, 2010) |
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