I understand senior management milking this whole game of grabbing cash till it is gone. I also understand older employees staying until social security is close. Perks of vacation time and free travel to events must be great for them. But, how is any second tier lien holder of this debt calculating they will get all their money back?
With stock dropping causing loss in investments and the REAL debt being said it would be closer to 9 billion, what bank would possibly feel ok with this?
Could someone explain this? Are there hidden advantages here somehow.
11 replies (most recent on top)
@gc oh he knows but he doesn’t care
vacation was definitely cut, I had 5 weeks vacation last year, and my buddy had 4 weeks, we were told now that we have unlimited vacation time to only take 2 weeks, that the big short guy we work up through in Production Sales doesn't want us taking vacation, and we can't take vacation in Q4, end of quarter months, start of month, end of month, if we're are under plan and whatever. Funny part is that the super big boss JEG works in a country where everyone takes 6+ weeks and no one says a word. Wonder if JEGster even knows about this
Riddle Di---e Sausages on the Grill’s Relax grab a Bud
People here are doing so well that they come on here, to tell people to keep taking the cr-p they dish up and give you financial advice. Great idea. I would take more credence in a taxi cab driver giving me advice about nuclear power.
@a2 could you summarize in plain ol’ English for me please?
What can they do about it? Any type of call would trigger a chain reaction, and the banks will get 5 cents on the dollar. No bank should be funding XRX in the future, and none should have in the last 3 years or so.
@a9 only in Murica….every other country didn’t move to Flex Time.
@a2 very tough to understand and too many things that would need to happen, and if not, Ch.11.
@OP They do not get vacation time- it is now "flex" time.
Craziest thing ever
@a2 There are a whole lot of hypothetical in that write up and also, the second tier look like they are sc--wed in almost all of them.
It is very complex.
https://octus.com/resources/articles/xerox-could-pursue-non-pro-rata-drop-down/