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At a time when so many people are beating the drum about the need for companies to file transparent documents with the Securities and Exchange Commission, General Motors (GMGMQ) deserves credit. Granted, the subject of the press release that accompanied yesterday’s 8-K was very grim; but there’s no spin at all in their message: GM [...]
Earnings season usually goes hand in hand with boring PPT presentations. But the one that Discover Financial Services (DFS) put out yesterday certainly caught our attention because of some of the scary slides smack dab in the middle. The slideshow was included in this 8K that was filed yesterday. By far, the scariest slide is [...]
Sometime today (it’s not clear exactly when) representatives of Lehman Brothers (LEHMQ) will appear in Bankruptcy Court. Their purpose? To provide an update on Lehman’s progress under the watchful eyes of Alvarez & Marsal, which as we footnoted here is getting paid as much as $850 an hour for its work on Lehman. While we [...]
There’s something about this song that I first heard in Florida called “Too Much BBQ” by (mute the sound on your computer first) Big Twist and the Mellow Fellows that made me think of the bankruptcy filing by Pilgrim’s Pride (PPC) yesterday. How so? Because we’ve footnoted Pilgrim’s Pride twice over the past few years [...]
This morning’s news that Circuit City (CC) was filing for bankruptcy protection prompted us to go back to something we had footnoted in late August: the employment contract with newly hired Vice Chairman James Marcum. A month later, on Sept. 22, Philip J. Schoonover stepped down immediately and was replaced by Marcum. While there were [...]
