vpFREE2 Forums

Greektown Bankrupt?

#1

Additional evidence of very poor management. The lenders may pull the plug.

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From: "Marksalot300@aol.com" <Marksalot300@aol.com>
To: vpFREE@yahoogroups.com
Sent: Friday, May 30, 2008 4:59:23 PM
Subject: [vpFREE] Greektown Bankrupt?

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#2

plug.

Additional evidence even poorer government - the court won't let the lenders
pull anything while under chapter 11 "protection".

[Non-text portions of this message have been removed]

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On Sat, May 31, 2008 at 9:28 AM, Joseph Annechino <floridagambler@yahoo.com> wrote:

Additional evidence of very poor management. The lenders may pull the

#3

> Additional evidence of very poor management. The lenders may pull the
plug.

Additional evidence even poorer government - the court won't let the

lenders

pull anything while under chapter 11 "protection".

That's to protect the creditors, and to prevent fraud in a sale
transaction. SOP. The court must approve any sale, but most licensable
3d party purchasers acting in good faith should have no problem
getting the judge to approve a sale transaction.

As for Greektown, well, I find this news amusing. As a casino, even
among tribal casinos, they were badly run (IMHO, they and Foxwoods,
which is essentially a tribe reconstituted out of a Providence RI
ghetto) are in a class by themselves (actually, there's a special word
to describe the, ahem, ubiquitous management style at Foxwoods, and
that's "Foxwoodsian") in terms of casino mismanagement.

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--- In vpFREE@yahoogroups.com, "Michael Stapp" <MichaelStapp@...> wrote:

On Sat, May 31, 2008 at 9:28 AM, Joseph Annechino <floridagambler@...> > wrote: