Cash in those points, or take your place in the creditor pecking order:
http://online.wsj.com/article/SB10001424052748704206804575467840495234592.html
WSJ - Foxwoods Financial Update
I think you have hit the nail on the head. I couldn't understand why the tribe was paying all this cash for points. They have already pissed off their lenders. They don't want to piss off their best customers too, whose continued business they will need for many years. Just as frequent flyer points are lost in an airline bankruptcy (I think), players points may be lost as the tribe attempts to placate their creditors. They already had to pull the tribal stipend. Next may well be player's points.
The tribe is giving its customers a way out. Take it!!! I got mine this morning 
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--- In vpFREE_NewEngland@yahoogroups.com, "guruperf@..." <guruperf@...> wrote:
Cash in those points, or take your place in the creditor pecking order:
Foxwoods holds all the cards Read the WSJ article, the debt holders have no leverage.
Doug
···
-----Original Message-----
From: veepdave <dhoppell@yahoo.com>
To: vpFREE_NewEngland@yahoogroups.com
Sent: Sat, Sep 18, 2010 1:48 pm
Subject: [vpFREE_NewEngland] Re: WSJ - Foxwoods Financial Update
I think you have hit the nail on the head. I couldn't understand why the tribe was paying all this cash for points. They have already pissed off their lenders. They don't want to piss off their best customers too, whose continued business they will need for many years. Just as frequent flyer points are lost in an airline bankruptcy (I think), players points may be lost as the tribe attempts to placate their creditors. They already had to pull the tribal stipend. Next may well be player's points.
The tribe is giving its customers a way out. Take it!!! I got mine this morning
--- In vpFREE_NewEngland@yahoogroups.com, "guruperf@..." <guruperf@...> wrote:
Cash in those points, or take your place in the creditor pecking order:
[Non-text portions of this message have been removed]
Thanks for posting Guru...
After reading the WSJ article I would say that Doug hit the nail on the head - it sounds like the "house" has a big edge in negotiating repayment of bond debt...
Taking the sovereignty into consideration it may well throw a "wrench" into any further "outside" investment or refinancing for all other tribes, like MS. It will be interesting to see if the market is willing to refinance MS 2012 bond debt, from what I've read it seems to keep getting pushed out further and further; however, unlike FW, MS seems to have started to listen to the wishes of the banks - recent layoffs and restaurant closings.
···
--- In vpFREE_NewEngland@yahoogroups.com, HDWAY8@... wrote:
Foxwoods holds all the cards Read the WSJ article, the debt holders have no leverage.
Doug
-----Original Message-----
From: veepdave <dhoppell@...>
To: vpFREE_NewEngland@yahoogroups.com
Sent: Sat, Sep 18, 2010 1:48 pm
Subject: [vpFREE_NewEngland] Re: WSJ - Foxwoods Financial UpdateI think you have hit the nail on the head. I couldn't understand why the tribe was paying all this cash for points. They have already pissed off their lenders. They don't want to piss off their best customers too, whose continued business they will need for many years. Just as frequent flyer points are lost in an airline bankruptcy (I think), players points may be lost as the tribe attempts to placate their creditors. They already had to pull the tribal stipend. Next may well be player's points.
The tribe is giving its customers a way out. Take it!!! I got mine this morning
--- In vpFREE_NewEngland@yahoogroups.com, "guruperf@" <guruperf@> wrote:
>
> Cash in those points, or take your place in the creditor pecking order:
>[Non-text portions of this message have been removed]