Muzak files for Chapter 11

[mr_fibuli]

Muzak Holdings LLC, the maker of elevator music, filed for Chapter 11 bankruptcy protection from creditors Tuesday.
The company had heavy debt load and it filed to try to refinance some of its debt. Its total debt is between $100 million and $500 million US and it has assets of less than $50,000, Muzak said in a court filing.

more: http://www.cbc.ca/money/story/2009/02/10/muzak.html


Now that's some debt to asset ratio!!!! Is this subprime business lending?
I guess we'll have to supply our own music on the elevator now, yet another of life's little luxuries gone

[Fiat Currency]

Re: Muzak files for Chapter 11

Yes - I guess they finally had to face the Muzak !! (sorry couldn't resist)

[Mega]

Re: Muzak files for Chapter 11

You just can see that this was a shell game!
Mike

[Guest]

Re: Muzak files for Chapter 11

Another thing. When I started reading here a couple of years ago, there was a moderate procession of new threads and they got thoroughly discussed. You could discern single topics on these pages which accumulated some real in depth discussion. Looking at these boards today gives the impression the entire process has been speeded up into a manic carioca band or better yet a carousel whirling ever faster around - of "one new post every 60 seconds". My take away is that these forum pages have become a manic kaleidoscope - new posting is getting manic The good stuff gets lost in the cram of stuff getting spewed out every day. Yeesh. I would make maybe one new post to these NEWS pages in a week, and look for a single topic that was really major. Slow it down folks. For a massive bulletin board of news you can go to BREITBART and get a portal with every news channel in the world accessible. You are posting what? 50 new threads a day? That sort of manic running around devolves into "white noise" after a while. For some people it's just overload.

[grapejelly]

Re: Muzak files for Chapter 11

Yes - I guess they finally had to face the Muzak !! (sorry couldn't resist)

One of the, shall we say "low" water markers in the previous huge bust (I am thinking late 1970s) was Baldwin Piano & Organ, if I recall correctly, and how they got into guaranteeing municipal bonds.

What is it with music companies and leverage?

[*T*]

Re: Muzak files for Chapter 11

Another thing. When I started reading here a couple of years ago, there was a moderate procession of new threads and they got thoroughly discussed. You could discern single topics on these pages which accumulated some real in depth discussion. Looking at these boards today gives the impression the entire process has been speeded up into a manic carioca band or better yet a carousel whirling ever faster around - of "one new post every 60 seconds". My take away is that these forum pages have become a manic kaleidoscope - new posting is getting manic The good stuff gets lost in the cram of stuff getting spewed out every day. Yeesh. I would make maybe one new post to these NEWS pages in a week, and look for a single topic that was really major. Slow it down folks. For a massive bulletin board of news you can go to BREITBART and get a portal with every news channel in the world accessible. You are posting what? 50 new threads a day? That sort of manic running around devolves into "white noise" after a while. For some people it's just overload.

A fair point. But it's inevitable as iTulip has grown. Also, your comment will itself get lost in the noise...

[petertribo]

Re: Muzak files for Chapter 11

Maestro unmakes Muzak. Another Sir Al triumph.