This is a serious tweet. Using the $HTZ precedent, every company thinking about filing has a fiduciary to do this.
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Board members at $CHK,
Before filing for bankruptcy, do an at-the-market offering of all unissued stock from your latest shelf registration. In the prospectus, spell out your intent to file, and make clear the shares you are selling are essentially worthless.
You’re welcome,
TC
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They could bonus themselves out too.
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Good point on the mechanics we can expect to see! I've already expressed my distaste here for the Hertz ploy. It should be treated by the court the same way it'd treat a dairy in bankruptcy that wants to sell almost empty milk cartons. Just tell them, no, it isn't okay.
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Well. They are not empty, but it's not a milk either
End of conversation
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I remember you made that recommendation to Elon too, didn't you?
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The market has been on QE since 2008, can’t even take an interest rate increase, all this before convid-19. The market is disconnected from the economy, a reset is due, but it won’t happen because it’s an electoral year. This is not different than QE, the Fed buying junk funds.
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Followed by inevitable rise in retailers getting hosed...pic.twitter.com/bRKLhIiFDZ
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