Nobody Cares: PRS

[Dakota Tebaldi]

Keep in mind that Dominion still has lawsuits pending against other parties - Newsmax, OANN, and Lindell I think. I don't think it's likely that any one of those, or even all of them together, have three quarters of a billion to offer for a settlement.

 

[Veritable Quandry]

Smartmatic has pending suits as well.

 

[Beebo Brink]

I was really disgruntled at the thought of a settlement until I heard Lawrence O'Donnell's comments last night. He pointed out that this is a civil trial, not a criminal trial, and that the discovery process itself revealed all of Fox's duplicitous action. Civil cases do not end with judgements of guilt, they end up with judgments of monetary awards. There would likely be no new evidence introduced at trial, and the settlement was basically an acknowledgement by Fox that they would most likely end up paying the plaintiff if they had gone through with the trial. That is as close to an admission of guilt as you're going to get in a civil suit.

O'Donnell also pointed out that if Fox had reached a settlement with Dominion much earlier, they would have avoided the discovery process and all the bad publicity it brought. So this way they ended up with the worst result: all their dirty laundry exposed AND payout of a large sum of money.

 

[Essence Lumin]

Keep in mind that Dominion still has lawsuits pending against other parties - Newsmax, OANN, and Lindell I think. I don't think it's likely that any one of those, or even all of them together, have three quarters of a billion to offer for a settlement.

Or even close. Out of the three, Newsmax likely has the most money. One site gives their net worth at 3 million.

 

[Katheryne Helendale]

Trendy “raw water” source under bird’s nest sparks diarrheal outbreak

Health officials would like to remind you that drinking untreated water is a bad idea.

arstechnica.com

Next week is Diarrhea Awareness Week. Runs through Friday.

 

[Essence Lumin]

I don't know who thought this was a good idea. It certainly was not but I laughed, especially at the second video that says Morgan Sa under it.

Parents upset over whip cream licking event at Kennewick middle school

 

[Beebo Brink]

I don't know who thought this was a good idea. It certainly was not but I laughed, especially at the second video that says Morgan Sa under it.

As a mandatory activity (apparently kids were "volunteered" for this) it's definitely not okay. But other than the consent issue, I'm having a difficult time mounting any outrage.

 

[WolfEyes]

‘Ignorant and disrespectful’: Fringe hate group hands out anti-Native flyers on Lakota reservations (msn.com)

Chantal Lugli (@jerzeygirl1981), a Native TikToker who lives on Rosebud, posted @iuicportland's video with the overlay text, "STAY OFF OUR RESERVATIONS."

"WE DO NOT WANT YOU HERE," Lugli wrote. "OR YOUR FALSE NARRATIVES AND GENOCIDE."

Source: Black Israelites Hand Out anti-Native Flyers on Reservations (dailydot.com)

 

[WolfEyes]

I think there is something wrong with the water in Michigan, not just in Flint.

In a thriving Michigan county, a community goes to war with itself (msn.com)

 

[Beebo Brink]

 

[Dakota Tebaldi]

You might have noticed out of the corner of your eye, but Bed Bath and Beyond is a sinking ship. They've already closed dozens of locations and have just announced that they're closing dozens more. They've been losing money steadily for more than a year, and the company just finally throwing in the towel and declaring bankruptcy is an any-day-now thing at this point. The company has been brutally honest about this the entire time, and the company's CFO jumped from his high-rise apartment building last September. The company has replaced officers as they've resigned too, but there is explicitly just no plans for a revival or revitalization - not even an attempt at one. It's a controlled flight into terrain.

But despite the tragedy involved, there's an inappropriately funny side to the whole thing, which is that there's a certain like sub-group of BedBath shareholders who are weirdly and firmly convinced that the company actually has a secret turnaround planned that (I'm not joking here) it has been dropping hidden clues about in its bleak P&L reports and shareholder meetings - think like QAnon counting the number of times President Trump taps the handrail with his fingers while boarding Marine One, that same kind of thing - and believe that all of the indisputably bad financial news (and, you know, dozens upon dozens of store closures) is a fake ploy to manipulate the stock price, and they are so convinced of the reality of this that they're refusing to sell away their stock and are even trying to be bullish about it as it death-marches. They're trying to make it a new Gamestop-type meme stock.

After a few attempts over the last couple of months to make some money, today BB&B finally announced they have filed for Chapter 11 and plan to liquidate all their assets within two months. All remaining stores will close. They've announced that April 26 is the last day they will accept coupons, gift cards, and membership discounts, so smoke 'em if you've got 'em.

The weird memestock cult is now convincing itself that a last-minute leveraged buyout will pay multiple billions of dollars for BB&B's assets and thusly make them all insanely rich.

 

[Essence Lumin]

After a few attempts over the last couple of months to make some money, today BB&B finally announced they have filed for Chapter 11 and plan to liquidate all their assets within two months. All remaining stores will close. They've announced that April 26 is the last day they will accept coupons, gift cards, and membership discounts, so smoke 'em if you've got 'em.

I thought when all the assets were being liquidated that was chapter 7; that reorganizing was chapter 11.

 

[Soen Eber]

I thought when all the assets were being liquidated that was chapter 7; that reorganizing was chapter 11.

I've read that businesses are more likely to use Chapter 11. It's more complex, but I guess it gives some advantages.

 

[Katheryne Helendale]

All I know is, my local BB&B is closing within the month. Time to stock up on new towels and sheets.

 

[Kamilah Hauptmann]

 

[Casey Pelous]

I thought when all the assets were being liquidated that was chapter 7; that reorganizing was chapter 11.

Put simply, assets typically get liquidated in both Chapter 7 and Chapter 11.

Chapter 7 is The End -- the whole thing is kaput. Stick a fork in it, cupcake, debt's canceled and it's time to start over. All the sellable stuff gets sold, the holders of the debt get paid some percentage of the proceeds, and that's that. (There's a pecking order for who gets paid first, but it is pretty cut and dried.) Far more often used by individuals and small businesses than by big corporations.

Chapter 11 leaves the corporation existing and holding whatever assets it can hold onto through the process. Debt is "restructured" usually in a negotiation process, and assets are liquidated to pay off the debt. At the end, there's a corporation unencumbered by debt, or at least encumbered only by the debt they had to assume to get through the process, and they can rebuild from the ashes. It makes sense because a lot of the value in a corporation is intangible and not very liquid. How do you value BB&B's "goodwill in the community" or its "style" and how would you transfer it between buyer and seller?

Chapter 7 goes relatively quickly, considering it has to make its way through the legal system.

Chapter 11 can drag out for years. Probably the most glaring recent example is Sears. They declared Chapter 11 in 2018 and, thousands of court filings later, came out of Chapter 11 in late 2022. Yes, the blighted thing is STILL ALIVE! It's sort of the business world equivalent of a zombie, but it's still moving. Sort of. Maybe they're hoping Elon Musk will buy them or something.

BB&B is probably hoping to resurrect the hollow shell as a purely online entity.

 

[WolfEyes]

"Like our people were the losers of Europe."


*choke coughs*

 

[WolfEyes]

Indian Boarding School Survivors Speak Out About Abuse – Rolling Stone

 

[Essence Lumin]

Jerry Springer Dead at 79

Jerry Springer, one of the most influential and controversial figures in TV history, has died ... TMZ has confirmed.

www.tmz.com

 

[Essence Lumin]