RE: RE: RE: RE: RE: Yet Another Comment on the Dis "keep in mind though that i have an affinity to yellow and its business model (despite chuck's relentless "issues"), and not necessarily to the buffoons who run it."
I'm going to completely agree with you on that point. However, it's going to take a while before effects of long-standing buffoonery are cleansed out of the system and the company shifts to being centered around the online business.
Equity holders are going to have a very wild ride for quite a while longer and there is very real chance that they will be wiped out entirely.
In most of the "wiped out entirely" scenarios that may occur, bondholders will be wiped out as well and I think many of them know that. They may end up owning the new, but not so new Yellow Media, but the fundamental business challenges (lack of buyout possibilities, declining print revenue and a vastly more competitive online landscape) aren't going away quickly and will be exacerbated by an insolvency situation due to loss of good will and customer confidence. This is, after all, a marketing company. In the uglier scenarios, there will also be a lot of disgruntled employees since their stock options will be worthless. There will also be a bunch of disgruntled ex-share holders, probably launching lawsuits, particularly if the company goes into CCAA prematurely, while it is still generating lots of positive cash flow.
Anyway, I'm sure there are interesting times ahead.
Mark