LaxPower Back-Up Stick

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Farfromgeneva wrote: ↑Fri Jul 07, 2023 11:58 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Sofr + 475 at origination never sold they sat in it and then offered to a few buyers at 60 last Q4 with no takers. 60 cents on a 6.5yr remaining term equates to ballpark +1100bps with no bid there. Now down to less than 6yrs remaining. I bet it’s 40 and + 1500bps to clear - 20% for senior debt on that bad boy.

https://www.sec.gov/Archives/edgar/data ... ex99-c.htm

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 9:21 am

Farfromgeneva wrote: ↑Fri Jul 07, 2023 11:58 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Sofr + 475 at origination never sold they sat in it and then offered to a few buyers at 60 last Q4 with no takers. 60 cents on a 6.5yr remaining term equates to ballpark +1100bps with no bid there. Now down to less than 6yrs remaining. I bet it’s 40 and + 1500bps to clear - 20% for senior debt on that bad boy.

https://www.sec.gov/Archives/edgar/data ... ex99-c.htm

And it gets better:
https://www.businessinsider.com/twitter ... out-2023-7

Farfromgeneva wrote: ↑Sat Jul 08, 2023 9:49 am

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 9:21 am

Farfromgeneva wrote: ↑Fri Jul 07, 2023 11:58 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Sofr + 475 at origination never sold they sat in it and then offered to a few buyers at 60 last Q4 with no takers. 60 cents on a 6.5yr remaining term equates to ballpark +1100bps with no bid there. Now down to less than 6yrs remaining. I bet it’s 40 and + 1500bps to clear - 20% for senior debt on that bad boy.

https://www.sec.gov/Archives/edgar/data ... ex99-c.htm

And it gets better:
https://www.businessinsider.com/twitter ... out-2023-7

Musk is a POS just a fact. That being said…

As a guy who’s made money from “time and materials” work and “best efforts” (success fee) I find anyone doing both and not crediting the T&M payment against the success fee to be the worst type of rent seeker. And I’m sure as agents for the seller who was in chaos they let the clock run hard on billing. So hard for me to be sympathetic to Wachtell but an agreement is an agreement and Musk is such a deadbeat that obviously he’s wrong and hope he pays full freight.

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 10:16 am

Farfromgeneva wrote: ↑Sat Jul 08, 2023 9:49 am

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 9:21 am

Farfromgeneva wrote: ↑Fri Jul 07, 2023 11:58 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Sofr + 475 at origination never sold they sat in it and then offered to a few buyers at 60 last Q4 with no takers. 60 cents on a 6.5yr remaining term equates to ballpark +1100bps with no bid there. Now down to less than 6yrs remaining. I bet it’s 40 and + 1500bps to clear - 20% for senior debt on that bad boy.

https://www.sec.gov/Archives/edgar/data ... ex99-c.htm

And it gets better:
https://www.businessinsider.com/twitter ... out-2023-7

Musk is a POS just a fact. That being said…

As a guy who’s made money from “time and materials” work and “best efforts” (success fee) I find anyone doing both and not crediting the T&M payment against the success fee to be the worst type of rent seeker. And I’m sure as agents for the seller who was in chaos they let the clock run hard on billing. So hard for me to be sympathetic to Wachtell but an agreement is an agreement and Musk is such a deadbeat that obviously he’s wrong and hope he pays full freight.

Musk should be happy. Watchell got his deal across the finish line. Management basically left a huge dump in his toilet and didn’t flush it.

Farfromgeneva wrote: ↑Sat Jul 08, 2023 10:36 am

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 10:16 am

Farfromgeneva wrote: ↑Sat Jul 08, 2023 9:49 am

Typical Lax Dad wrote: ↑Sat Jul 08, 2023 9:21 am

Farfromgeneva wrote: ↑Fri Jul 07, 2023 11:58 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:45 pm

Farfromgeneva wrote: ↑Fri Jul 07, 2023 10:38 pm

Typical Lax Dad wrote: ↑Fri Jul 07, 2023 10:35 pm https://www.cbsnews.com/news/elon-musk- ... -fidelity/

What had happened wuz….

I still want to know what the TL B would go for. 40 cents? No way it’s above 60 cents on the dollar when it broke 80 at origination basically when MS and BofA got hung with it. Think about it even if you believe Fidelity’s mark, you’ve got negative FCF, every covenant has busted within 2 quarters of closing and now an a Debt to EV ratio that was like .25-.3 or so, $13Bn in $46.5Bn, and is now more or less 1:1. And that EV involves a heck of a lot of goodwill and intangibles in it.

What’s the yield? SOFR + 1000….I believe it broke at 60.

Sofr + 475 at origination never sold they sat in it and then offered to a few buyers at 60 last Q4 with no takers. 60 cents on a 6.5yr remaining term equates to ballpark +1100bps with no bid there. Now down to less than 6yrs remaining. I bet it’s 40 and + 1500bps to clear - 20% for senior debt on that bad boy.

https://www.sec.gov/Archives/edgar/data ... ex99-c.htm

And it gets better:
https://www.businessinsider.com/twitter ... out-2023-7

Musk is a POS just a fact. That being said…

As a guy who’s made money from “time and materials” work and “best efforts” (success fee) I find anyone doing both and not crediting the T&M payment against the success fee to be the worst type of rent seeker. And I’m sure as agents for the seller who was in chaos they let the clock run hard on billing. So hard for me to be sympathetic to Wachtell but an agreement is an agreement and Musk is such a deadbeat that obviously he’s wrong and hope he pays full freight.

Musk should be happy. Watchell got his deal across the finish line. Management basically left a huge dump in his toilet and didn’t flush it.

Except he didn’t want to cross the finish line. Why he’s stuffing everyone now. Or at least a contributing factor.

Kismet wrote: ↑Sat Aug 12, 2023 10:14 am Raiding a newspaper office and confiscating all their equipment is a violation of the First Amendment in regard to a Free Press

https://kansasreflector.com/2023/08/11/ ... ellphones/

“An attack on a newspaper office through an illegal search is not just an infringement on the rights of journalists but an assault on the very foundation of democracy and the public’s right to know,” Bradbury said. “This cannot be allowed to stand.”

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

MDlaxfan76 wrote: ↑Sun Aug 13, 2023 9:03 am

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

ouch.

SCLaxAttack wrote: ↑Sun Aug 13, 2023 10:07 am

MDlaxfan76 wrote: ↑Sun Aug 13, 2023 9:03 am

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

ouch.

Henceforth we'll have half the Republican Party insisting Marx wrote Mein Kampf, and will tell you any evidence you have to the contrary is "fake".

Kismet wrote: ↑Sun Aug 13, 2023 10:56 am

SCLaxAttack wrote: ↑Sun Aug 13, 2023 10:07 am

MDlaxfan76 wrote: ↑Sun Aug 13, 2023 9:03 am

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

ouch.

Henceforth we'll have half the Republican Party insisting Marx wrote Mein Kampf, and will tell you any evidence you have to the contrary is "fake".

Incredibly, then there is this about his education in his Wiki bio

"Hemmer holds a Bachelor of Arts degree in broadcast journalism from Miami University in Oxford, Ohio. While at Miami University, he joined Delta Tau Delta fraternity and studied in Europe at the Miami University Dolibois European Center, which was then located in Luxembourg City, Luxembourg."

How the eff do you study in Europe for any length of time and not know the difference between Marx and Hitler
Unless, of course, you're just another dumbass.

Kismet wrote: ↑Sun Aug 13, 2023 10:56 am

SCLaxAttack wrote: ↑Sun Aug 13, 2023 10:07 am

MDlaxfan76 wrote: ↑Sun Aug 13, 2023 9:03 am

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

ouch.

Henceforth we'll have half the Republican Party insisting Marx wrote Mein Kampf, and will tell you any evidence you have to the contrary is "fake".

Incredibly, then there is this about his education in his Wiki bio

"Hemmer holds a Bachelor of Arts degree in broadcast journalism from Miami University in Oxford, Ohio. While at Miami University, he joined Delta Tau Delta fraternity and studied in Europe at the Miami University Dolibois European Center, which was then located in Luxembourg City, Luxembourg."

How the eff do you study in Europe for any length of time and not know the difference between Marx and Hitler
Unless, of course, you're just another dumbass.

Seacoaster(1) wrote: ↑Sun Aug 13, 2023 11:20 am

Kismet wrote: ↑Sun Aug 13, 2023 10:56 am

SCLaxAttack wrote: ↑Sun Aug 13, 2023 10:07 am

MDlaxfan76 wrote: ↑Sun Aug 13, 2023 9:03 am

Kismet wrote: ↑Sun Aug 13, 2023 6:41 am Bill Hemmer - Faux News anchor said this on national television this past week reagerding education in America -

" I remember, 20 years-old, going to Trier, Germany and trying to find the home of Karl Marx 'cause, you know, 1848, he wrote Mein Kampf. I wanted to know what was all about. So, that's part of the education in America."

Would like to know where he got his education because it was Adolf Hitler who wrote it in 1925 (not 1848) and not Karl Marx. Apparently does not know the difference between a Marxist and a fascist either.

ouch.

Henceforth we'll have half the Republican Party insisting Marx wrote Mein Kampf, and will tell you any evidence you have to the contrary is "fake".

Incredibly, then there is this about his education in his Wiki bio

"Hemmer holds a Bachelor of Arts degree in broadcast journalism from Miami University in Oxford, Ohio. While at Miami University, he joined Delta Tau Delta fraternity and studied in Europe at the Miami University Dolibois European Center, which was then located in Luxembourg City, Luxembourg."

How the eff do you study in Europe for any length of time and not know the difference between Marx and Hitler
Unless, of course, you're just another dumbass.

Oktoberfest.