knightni Posted October 12, 2009 Share Posted October 12, 2009 http://news.yahoo.com/s/ap/20091012/ap_on_...cubs_bankruptcy Link to comment Share on other sites More sharing options...
StrangeSox Posted October 12, 2009 Share Posted October 12, 2009 L.O.L. Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 12, 2009 Share Posted October 12, 2009 This is all about "gaming" the system to get the sale through faster. Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 12, 2009 Share Posted October 12, 2009 QUOTE (Athomeboy_2000 @ Oct 12, 2009 -> 12:38 PM) This is all about "gaming" the system to get the sale through faster. The team's brief stay in Chapter 11 is expected to protect the team's new owners from potential claims from Tribune creditors. It will also be used to dump some debt, which will free up some cash for operating expenses for the new ownership. Link to comment Share on other sites More sharing options...
LittleHurt05 Posted October 12, 2009 Share Posted October 12, 2009 so basically these Tribune creditors get screwed out of their money, so the sale can be made easier and be more convenient??? Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 12, 2009 Share Posted October 12, 2009 QUOTE (southsider2k5 @ Oct 12, 2009 -> 12:46 PM) It will also be used to dump some debt, which will free up some cash for operating expenses for the new ownership. So, they are gaming the system. They can afford to pay the creditors, they just dont want to. Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 12, 2009 Share Posted October 12, 2009 QUOTE (Athomeboy_2000 @ Oct 12, 2009 -> 01:02 PM) So, they are gaming the system. They can afford to pay the creditors, they just dont want to. I don't have any of their financials, but I would guess that is probably the case. Link to comment Share on other sites More sharing options...
MattZakrowski Posted October 19, 2009 Share Posted October 19, 2009 (edited) Edited October 19, 2009 by MattZakrowski Link to comment Share on other sites More sharing options...
klaus kinski Posted October 19, 2009 Share Posted October 19, 2009 QUOTE (LittleHurt05 @ Oct 12, 2009 -> 12:55 PM) so basically these Tribune creditors get screwed out of their money, so the sale can be made easier and be more convenient??? Its an American way of doing business now- Link to comment Share on other sites More sharing options...
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