More problems for CET

[OTABILL]

CET bankruptcy reorganization dealt a possible fatal blow.

Caesars Bankruptcy Reorganization Dealt Setback by Federal Judge

[alpax]

Thanks for sharing. I am an illiterate when it comes to bankruptcy laws, but on the Gambling with an Edge radio show, they were saying that the gaming operations will continue to go on as Caesars is too big of a company to fall.

[OTABILL]

Thanks for sharing. I am an illiterate when it comes to bankruptcy laws, but on the Gambling with an Edge radio show, they were saying that the gaming operations will continue to go on as Caesars is too big of a company to fall.

I don't know about that. Enron, Lehman Brothers, Eastern Airlines, Arthur Anderson, and other large companies among others have gone under. Others were bought out. I would not put CET in the same category as GM or AIG.

[chattycattty]

Admittedly I am a little nervous with whats going on with CET. But when you step back and look, they have by a wide margin, the best players program to those that like to travel. My wife and I have taken advantage of the benefits provided with their 7 star program for the last 4 years and I suspect we will do the same thing again this year providing they don't make changes to it that would motivate us to take our business elsewhere.

[olds442jetaway]

Thanks for the link Otabill. Yeah, the law is supposed to protect creditors too, not just the debtor. Will have to see what happens next. CET's lawyers responded by saying the creditors gripes were just based on allegations, but because of the nature of the transactions, that is like an open book to easily verify. Just like vp though, anything can and will happen borrowing a quote from Fla Phil.

[notes1]

i have no idea of the outcome, but in a search for yield, some bond investors took risky bets.  these transactions took place prior to the credit collapse in 2008.  same thing is going on now, as investors are looking for yield. just like the stock market, one places their bets and takes a risk. as long as nothing illegal is/was going on, the investors should know the risk.    my concern is that companies in financial trouble, MAY be more inclined to do things to survive. not all these things may be on the up and up.  

[DaBurglar]

i have no idea of the outcome, but in a search for yield, some bond investors took risky bets.  these transactions took place prior to the credit collapse in 2008.  same thing is going on now, as investors are looking for yield. just like the stock market, one places their bets and takes a risk. as long as nothing illegal is/was going on, the investors should know the risk.    my concern is that companies in financial trouble, MAY be more inclined to do things to survive. not all these things may be on the up and up.  Good point(s)Without divulging details, when I worked in southern california, my company had lots of vendors/suppliers who were associated with the aerospace industry....now for those of you who know, there are not too many more REGULATED industries than aerospace and defense.    Even with this, on several instances, when a vendor was struggling or on th everge of going under, they did indeed pull some pretty mind blowing and sleazy crap in an effort to "hang on" for one more year or quarter or....hell even for another month!     It is all about PEOPLE.....Caesars (CET) is run by people with the same foibles and weakness and faults and sins as all of us......some people rise above this crap, some sink all the way to the bottom (and take many of us with them, if we allow it.)    Food for thought, thought for food, a penny for your twinkie, etc etc

[OTABILL]

Further details on CET bankruptcy filing problems. From the article, Caesars would have problems selling casinos to outside parties because they would then be removed from the Total Rewards program.

Wall Street service warns Caesars restructuring will be ‘drawn out’ process

[alpax]

Link not working for me.

[OTABILL]

Link not working for me.

I fixed it. Should work now.