RE: Sad news

Joe,

I think that's what the article said in the url. Did you look at it?



-----Original Message-----
From: midrange-l-bounces@xxxxxxxxxxxx
[mailto:midrange-l-bounces@xxxxxxxxxxxx] On Behalf Of Joe Pluta
Sent: Saturday, February 13, 2010 11:01 PM
To: Midrange Systems Technical Discussion
Subject: Re: Sad news

Ah, the lovely world of financial dealings. I don't know what you mean
by "well into coming out of it" but as far as I've read they filed last
week (Tuesday?) a pre-packaged plan to reorganize about a quarter of
their debt and they expect to be done with the process in 45-60 days.
It's a prepackaged bankruptcy which means everything is a done deal, and
they already know who is going to get what. In fact, I got a letter
saying that if I attempted to collect any debts owed me I might be
penalized. Vaguely authoritarian legal stuff, but pre-packs are all the
rage now.

Joe

Joe,

It's a chapter 11 filing as I understand and it looks like they're well

into

coming out of it.

http://www.foliomag.com/2010/penton-media-file-chapter-11-bankruptcy

DR2

-----Original Message-----
From: midrange-l-bounces@xxxxxxxxxxxx
[mailto:midrange-l-bounces@xxxxxxxxxxxx] On Behalf Of Joe Pluta
Sent: Saturday, February 13, 2010 10:28 PM
To: Midrange Systems Technical Discussion
Subject: Sad news

Penton Media filed bankruptcy.

I'm not sure what exactly this entails for the publications but it's a
sad sign of the times, the economy and our industry.

They've always been one of the premier teams of i talent and I wish them
the best.

Joe