Multiple news Sources including Reuters, Fox Business News, Forbes, etc is Reporting CET Has Reached Agreement On their Bankruptcy Plan and an end to the bankruptcy appears to be very close.
In the end CET and Apollo had to pony up more than they originally wanted to, however, with all of the shenanigans they tried to pull in the last few years shuffling assets around I think they are very lucky to not have wound up in jail.
I've been reading the various articles. It is not a "done deal" yet and there are holdouts. It ain't over till it's over.
Personally, I hope that whatever the resolution is, players will not be damaged. We are all concerned about Total Rewards being downgraded, comps being cut, games being made less favorable, etc.
Jail? That's not the American way. Spend until you are in deep shit and then hit them all with a BK and screw the remorse. Bankruptcy is just another example of our cowardly "take no responsibility" society. I have more respect for crack whores.Quote:
Originally Posted by mrstealth
Now you have given me a bad internal struggle. I have filed bankruptcies for several crack whores (my friend runs an "adult playground".)Quote:
Originally Posted by james40
Isn't America great?Quote:
Originally Posted by regnis
It's not officially a done deal, but it looks like it's over.
Caesars bankruptcy is likely finished, and the only lawsuit remaining is a mostly inconsequential $160 million one.
Long live Caesar!
I would like to be as optimistic as you are. But we don't know what operational changes will result. There could be a change in management. There could still be a sale of assets (casinos).Quote:
Originally Posted by Dan Druff
As far as players are concerned, I am hoping for the best.
It's definitely a done deal. CET has utilized the absolute best tools that we've seen our two presidential candidates use over the years: professional and justice-Dept. sanctioned corruption....and taking complete advantage of legally using Chapter 11 as a tool of the wealthy. If anyone ever thought CET was going to be allowed to fail---think again. As for any effect on players, no one cares. Not anyone who counts, anyway.
I am sure management doesn't care. How do I know? Because they haven't cared up till now.Quote:
Originally Posted by Rob.Singer
Why should they care? Bankruptcy for individuals covers up poor decision making and a lack of personal responsibility. Corporations are no different.Quote:
Originally Posted by Alan Mendelson
Bankruptcy is also punishment for those that made stupid decisions to lend the money in the first place.Quote:
Originally Posted by james40
Unfortunately, bankruptcy doesn't just punish foolish lenders.Quote:
Originally Posted by RoeIncarnate
It punishes anyone to whom the debtor owes money, including workers, contractors, landlords, etc.
I've always hated the concept of bankruptcy -- that there's a legal way you can "discharge" correct and legal debts. It just screws over innocent parties.
But I suppose that's another debate for another time.
The legal concept of bankruptcy is that businesses are "living things" and have a right to live. It is a biblical concept that allows people to wipe away their debts. It is not meant to punish anyone but could be considered "right to life" for businesses.
Uh oh -- our next prez is lower than a crack whore. Is what you're saying?Quote:
Originally Posted by james40
Not that there's anything wrong with that....
For most of our politicians, crack whore would be a step up in stature.Quote:
Originally Posted by redietz
True dat.Quote:
Originally Posted by james40
When I attended a Newt Gingrich speech in the summer, I was the only guy I could see who didn't give the dude a standing ovation when he took the stage for a "Civility" presentation. I tend to wait until after I hear what someone says before giving them a standing ovation. But that's just me.
Good old Newt, another draft dodging, womanizing, twice divorced, self serving politician. These degenerates drape themselves in the flag while holding a bible and don't believe in either.Quote:
Originally Posted by redietz
I respect Newt a lot as a politician. A lot of what he says simply makes sense, and he has never been a party stooge. Often he has gone against the grain and taken positions which are unpopular (at the time, at least) within the Republican Party.
His personal life is a mess. For that reason alone, he really isn't one who is a viable politician beyond where he already got. He's also a lot better "ideas" man than he is at actually governing. This is why he did a mostly poor job as Speaker of the House from 1995-1999, despite doing an amazingly good job uniting the Republican Party for the 1994 election, as well as an amazing job relaying to the average voter that year why they should vote Repubilcan.
I did lose a bit of respect for Newt this year with his support for Trump. Newt is one of the smartest people in the Republican Party (even his opponents concede that), so his support for a clearly unfit and unstable Republican candidate just seems odd to me. Normally Newt is his own man, and is the last to fall in line with something just because his party wants him to.
Sorry Dan. I agree more with James40 on this one. I still remember his contract with America which was a joke and his turning his back on his wife who was dying of cancer which was a huge statement on the type of person he really is.
There's no question that Newt had failings in his personal life. I stated that myself in my other post above.Quote:
Originally Posted by seemoreroyals
The Contract With America was actually a good idea, especially at the time when the country was frustrated with high taxes, high crime, and poor progress with reforming broken entitlements such as welfare. Remember that violent crime was at its very worst point in the early 90s, taxes were higher, and in general the average American was tiring of left-wing politicians and their out-of-touch nature. People wanted solutions, and they wanted them quickly.
Newt saw this, and he invented the Contract With America, which was a genius political move. It was basically telling the average American, "The Democrats don't understand your daily frustrations, but we do. And we are going to fix them now."
Republicans won in landslides all over the country that year. It actually forced Bill Clinton to move to the right for his final two years of Presidency, which ironically helped him win reelection in 1996.
But this was all Newt's dong. He was the last one to bring the Republican Party completely together under a united front, and the last one to really convince the average American that Republicans represented their needs more than the Democrats did. Even in some successful Republican elections in years since (such as 2010), the votes were more against Democrats than for Republicans. In 1994, people were voting FOR Republicans.
Newt was not a good Speaker. He wasn't good at governing. He was great at conceptualizing, speaking, and writing, but not good at implementing. As you mentioned, his personal life was also a mess, which also caused him trouble when attempting to govern.
Try reading some of Newt's opinion pieces of the past few years, and you will have a hard time disagreeing with him, even if you start off on the opposite side.