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  3. February 2010

Re: Encouraging News (Was Sad news)

Don wrote:
OK guys,

Before it gets to be a long night... I think we've figured that they're
coming out of chapter 11 and, at least for the time being, things are
looking status quo and OK.
I don't know where you get this stuff. It's NOT status quo. It's NOT OK. When a company stiffs its creditors to the tune of 85 cents on the dollar, that's a bridge that's pretty severely toasted. It may be that Penton is getting entirely out of the printed material business and so it's not a problem to default on debts to printers. And who knows, maybe the printers are happy to get 15 cents on the dollar.

I sorta doubt it, but I don't know.

But I'm a little pissed off at being called a doomsayer when all I did was say that Penton declaring bankruptcy is a sad thing.

Because it is.

Gz, Louise, it's a freaking Crazy Day in Bizarro World when I get told to lighten up by DON...



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