Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: Jazzenjohn1 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 111  
Subject: Re: Dana Corporation misses interest payments Date: 3/8/2006 1:53 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Dana doesn't seem to be getting the press that Delphi got. I think it ought to get more. The business section of my paper said they went bankrupt because of high energy, labor, and material prices. No mention of the 815 million dollar charge because it 'deems it more likely than not they won't be able to use some tax credits but reserves the right to use them if conditions change' and the charge for the selling off of some portions of the business that haven't happened yet.

The next things to happen will be the selection of the new CEO for the bankruptcy. He'll get a big signing bonus and, in turn, recommend retention bonuses for everybody that forgot to pay the interest payment and also didn't sell off the divisions that they took a ~275 million dollar charge against last month. This one reeks of inside manipulation, there are several class action suits against it already. The only people that wind up on top in those lawsuits are lawyers though.

There should be a database of crooked/inept/incompetant board members and corporate officers so they can be weeded out and/or prosecuted after letting things like this happen. I also think that mutual funds and pension funds should vote and display Who, What for, and Why they voted the way they did on proxy issues.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

The Story Behind the Story
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement