Vance & Hines Bankrupt?
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From: Michigan 15 Minutes East Of Hell
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No, but lots of changes. They had to cut back and close the IN facility and now operate just from the CA location with a much small foot print. There were several company's involved in the BK and they have all undergone many changes and cutbacks.
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Joined: Jun 2011
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From: Mountain Top, Alabama
They are DIP "Debtor In Possession" and operating with additional capital provided by senior lenders. They very well could emerge from this Chapter 11 due to reorganization and a new board of directors.
The best thing I see of it is the same crooks that brought it down will not be at the top anymore. In past years often the top level crooks remained at the top, and in fact were awarded big, big bonuses while the workers below them take drastic cuts.
That is NOT the case here, thank goodness.
Time will tell.
I expect to see some of MAG subsidiaries get sold off, "Pruning" as I call it.
The best thing I see of it is the same crooks that brought it down will not be at the top anymore. In past years often the top level crooks remained at the top, and in fact were awarded big, big bonuses while the workers below them take drastic cuts.
That is NOT the case here, thank goodness.
Time will tell.
I expect to see some of MAG subsidiaries get sold off, "Pruning" as I call it.
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From: Missouri
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HD EFI Guru
Joined: Jan 2008
Posts: 4,496
Likes: 4,789
They are DIP "Debtor In Possession" and operating with additional capital provided by senior lenders. They very well could emerge from this Chapter 11 due to reorganization and a new board of directors.
The best thing I see of it is the same crooks that brought it down will not be at the top anymore. In past years often the top level crooks remained at the top, and in fact were awarded big, big bonuses while the workers below them take drastic cuts.
That is NOT the case here, thank goodness.
Time will tell.
I expect to see some of MAG subsidiaries get sold off, "Pruning" as I call it.
The best thing I see of it is the same crooks that brought it down will not be at the top anymore. In past years often the top level crooks remained at the top, and in fact were awarded big, big bonuses while the workers below them take drastic cuts.
That is NOT the case here, thank goodness.
Time will tell.
I expect to see some of MAG subsidiaries get sold off, "Pruning" as I call it.
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