By George Schultze, Janet Lewis

"A specific examine the self-discipline of contemporary distressed making an investment. making an investment in distressed securities/financially afflicted credit is an process that comprises either nice danger and chance. Occurrences from the new credits quandary have replaced this enjoying box immensely, no longer lots when it comes to genuine legislation being revised yet within the government's greater position. What are the repercussions of the obstacle and its Read more...


Bullying Interventions in colleges outlines the prevailing tools used to handle bullying, describing whilst and the way every one strategy can most sensible be utilized. Six significant tools are addressed: the disciplinary Read more...

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When you buy a company’s debt, sometimes your aim is to get it at a significant discount to its full face value (par), which in some cases can be pennies on the dollar. You may then reap a good return when the bankrupt company pays off its creditors, preferably at par—or at least at a smaller discount than you got in the open market. You could also sell the debt for a quick profit if the value increases in anticipation of a bankruptcy, especially if the market believes the company has some worthwhile assets to realize.

Even though that price represented a nice premium to my average purchase price for the stock (less 32 Learning to Scavenge than C$20), I was sad to see Algoma go for a relatively low valuation. 02× its trailing EBITDA, which, although nearly three times its prior trading price, was still below the average industry multiple. Washington Group International (WGI) is another interesting example of a successful fulcrum security investment, but in two different fulcrums— one I bought into during the reorganization, and one afterward.

I had worked with the Icahn team over the years, usually on the same side, so I was surprised and dismayed by subsequent developments. Icahn’s first move was to put his right-hand man, Vincent Intrieri, a senior managing director at Icahn Enterprises, on the board. During the Tropicana Casinos bankruptcy in 2009, I’d gotten to know the shrewd but volatile Intrieri, whose profane outbursts during tension-filled negotiations became legendary. Shortly after Intrieri joined the board, it appointed a financing and restructuring committee and made Intrieri its chair.

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