Ceasar's File for Chapter11

[JIMDUECE`SWILD]

http://www.pressofatlanticcity.com/busi ... 28f55.html

[DaBurglar]

And there you have it......Kudos to Billyjoe for accurately predicting that this would happen in the way it did and when it did, not to mention HOW....and although I also predicted this, I did NOT (repeat....NOT) predict the exact methodology of a REIT (real estate investment trust) as being the primary vehicle/methodology behind the move, whereas I think Billyjoe did predict something akin to this as being the way out for Caesars (at least for the short term......it remains to be seen if Loveman and company are humble, and wise, enough to learn the proper lessons and CHANGE the way they operate.)I myself knew this was forthcoming  but again, did not foresee exactly how a REIT would figure it this mess.....I actually thought a straightforward Asset sale and massive restructuring and cost cutting was the way in which CET would proceed....I honestly thought any other move would simply be another case of kicking the can down the road, and I thought that CET had actually run out of both CAns and ROAD (lol)......it remains to be seen of course whether this will turn out to be a real viable solution to the problem or if this is just delaying a bigger calamity.either way, I hope this means CET will make its Atlantic City properties more player friendly, and they will take their Video Poker machines and remove the ridiculous programming that causes the machines to deal crapola on top of crapola, resulting in statistically outrageous results on games like DDB and Double Double Aces and Faces on paytables that are supposedly player friendly like 99.3% or better!!!!

[spxChrome]

That's what happens when you get greedy and don't let anyone win they quit coming. duh.

[olds442jetaway]

Reits can pay some fantastic dividends and be great investments if run properly and without fraud. Years ago, I had shares in one that owned all of the real estate for the Burger Kings. I forget the rate, but something like fifteen percent comes to mind. Certainly a better return that vp for most people. . Without looking at all of the details of the bankruptcy plan, I cannot say if it might work long term or not, but I am surprised that much of the debt will evidently not be recovered. I wonder if some of the creditors will be given some sort of a position or shares of a reit which might pay them back some or all long term. Reits are a great way to avoid taxes for companies assuming they have a tax liability to begin with. They can avoid paying taxes on 90% of their income because they can instead distribute dividends to shareholders. The government still will collect from the shareholders since they have to report the dividends on their individual returns. Will be interesting to see how it works out in the end. Many of the unsecured creditors will no doubt get screwed.

[olds442jetaway]

Just a littls side note....IMO,If lawsuits filed by creditors are not resolved in a certain manner, the parent company could be dragged into the proceedings. For now, this is a huge mess that may not be resolved for years. What doesn't help is the continued expansion of gambling facilities throughout the country. More competition means more pressure to cut expenses and or offer more incentives to gamblers. If that doesn't work or has an even greater adverse effect on the bottom line......look out below....

[DaBurglar]

This is truly amazing.....the level of sheer incompetence (and shortsighted greed mostly) on the part of executives and officials that run these corporations (like CET)!!     I am 100% confident that numerous people currently posting on this website/forum (including of course myself)  could do at LEAST a slightly better job than the current, or recently past, batch of morons running Caesars (and Trump, et al)....  certainly could do no worse, and I am also certain we'd all gladly accept (and be satisfied with) a fraction of the outrageous compensation packages the aforementioned MORONS receive.Think about it.......how'd you like to earn what Gary Loveman makes in a year, knowing full well that running the company into the ground is a perfectly "acceptable" end result (at least as far as allowing you to "retain" your position for the next year.....and perhaps even earn some "BONUSES" .....all for a job Horribly done!!!!        GAhhh I hate what passes as today's "BUSINESS" standards.

[Tedlark]

Come on Da, shoot your resume' over to CET HR.