Archive for May, 2010

Wont see you in court….

A good article in yesterdays Sunday Times about collecting debts and why the court system should only be the very last resort

Unfortunately I cannot link to it but here are some quotes…

“the best way to resolve disputes before they get to court is to have a face to face meeting”

“it is vital not to take the dispute personally”

“they (litigants) will become obsessed by it whilst their business colapses”

“litigation will cost you money and can cost considerable sms of money, particularly when it gets messy. Court proceedings should always be seen as a last resort”

All good advice from a leading lawyer…

He also suggests bringing in a mediator. So very true..

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Death by Powerpoint

I think the title of the above link says it all…

My sentiments exactly.

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And staying on the theme of corporate USA, I have come across this fascinating site which delves through the SEC filings of american corporations to discover those deeply buried “notes”

Very interesting

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United and Continental merger

And between them they have filed for bankruptcy three times. Continental in the 80’s and late 90’s and United in 2002 (which lasted for four years). Having extended relatively small amounts of credit to both companies, I have in the past kept a close eye on their results. Continental were a genuine and nice company to deal with and when there was considerable nervousness after 9/11 about the stability of most US airlines, they were considered to be one of the stronger players. Indeed there had been laudatory books and articles written about their management. So reviewing the wiki entry below, interesting to see that they had been recently restructuring quite radically

Also, I wasnt aware that United had completely defaulted on its pension commitments during chapter 11. United’s recent history has been colourful and some would say a bit incompetent too. I recall that they commited at least a full quarter’s fuel at the absolute peak of the market during the oil boom bust a couple of years back. Lost them around $1 billion i seem to recall

It would appear that Continental will be the dominant party within the management structure of the new company and perhaps we shouldnt be suprised

The wiki entries below are particularly interesting

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