Great Wide bites the dust

[GMAN]

When a company files for chapter 11 bankruptcy they are asking the court to help them to pay their debts. They could have some debts forgiven, paid at a lower rate or at the full rate. Some assets could be sold off to pay debts. A trustee is appointed to over see operations. A chapter 11 could take from a few months to several years to complete. The danger to filing a chapter 11 is that it could be converted to a chapter 7 which is a total liquidation of the companies assets. That is not as likely to happen with a large company as it is with a small one. If the trustee or court thinks there is little chance for the company to pay out of it's situation then they could liquidate the company. A liquidation is more likely to occur when creditors push for it. Apparently in this situation their creditors are willing to go along with the restructuring. That will make it much easier for the company to survive. During the early stages of the chapter 11 filing the company will not have to pay their bills. Some exceptions will be for basic operational costs, such as salaries, utilities, etc., A company may also continue to pay on any rentals or mortgages expenses.

[homer]

If I am reading right what you are saying you need to quit posting !!!!!!!!!!! Things posted on the internet can be used in court as "Open to the pubic" You are saying he he took the advaces then didn't haul the loads. He is in deep sh11t. Get an attorney and don't post anymore till he sees your posts. A good prosuicuter will hang him if you keep doing this !!!!!

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he knows how to operate for max profit and less greenhouse gas. he gonna rule this biz!

[rgordon212]

Well, Greatwide just got 6 more Wal-Mart DC's added to their list..... guess the Walton family has decided to help them rebound?

[Ronin]

but at what cost i wonder?

[carterbeauford]

If I am reading right what you are saying you need to quit posting !!!!!!!!!!! Things posted on the internet can be used in court as "Open to the pubic" You are saying he he took the advaces then didn't haul the loads. He is in deep sh11t. Get an attorney and don't post anymore till he sees your posts. A good prosuicuter will hang him if you keep doing this !!!!!

I probably left out the part where we all want him to hang.