sharktooth
Veteran
- Jan 27, 2006
- 1,846
- 0
Interesting to hear Parker say without the merger "We would have been in bankrupcty..."
Wasn't the East "in" bankruptcy at the merger announcement? Making Parkers statement true, but irrelevant to what is spun. He did not say that the East would then "go" into bankruptcy. He simply said that without a merger, East would be in bankruptcy. Wow! OK, sun rises in east.
What seems more important, is that, without this particular merger, AWA would then have gone into liquidation, per their Zanzibar plan. As the East has found out, liquidation is simply a subset of a vast grouping of accounting maneuvers called bankruptcy.
Without Parkers merger, East remains in bk pending a relationship with one or both of two other investors. West goes directly to liquidation. Seems to me things look a little different in this light.