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| Music Forum Index » Rush Music Forum » Gary Lee Weinrib drug addict thus flake, denys severe... |
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| LIBERATOR... |
 Posted: Thu Nov 05, 2009 1:54 pm |
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http://www.youtube.com/watch?v=UStBBVQMiEM
Gary, the GI Joe clip portrays you as a flake out in la la land but
using your superintelligence of subject matter to do harm to people,
and Neil is your prisoner. But as you mismanage and cheat and commit
crimes against the public by using the NSA illegally, you are failing
as this article proves. You have to be in fear or you're not due to
the use of drugs. Bear Stearns, Lehman, BofA, WaMu, Hilton, General
Growth Properties, Chrysler, GM, Gary, you're not working right in the
head and this spread to Virginia Newbon yoru tool you use to suffice
the gifting of the NSA to you from Spielberg/Lucas. Your witchcraft is
also total bullshit as proven by your failures with me, if you can't
secretly own the living environment none of your witchcraft holds
true. You're a false mystic (if you really want to be considered a
mystic). You'er a jealous man, your mother is a liar regarding the
holocaust, you support these negative acts against me if you're not
the originator, you are losing and as the Sinatra family portrayed you
taking cyanide in Surrogates, it shows Tina knows that you are
irreversibly going to lose completely. You'll never see it coming
Gary, just like you never saw BofA, WaMu, Lehman & the rest of them...
You can't hurt people and mask it as helping them. You must pay!
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http://online.wsj.com/article/SB125668616971811715.html
Hilton Debt Load Weighs on Blackstone
Buyout Firm in Talks With Lenders to Slice $5 Billion Off Loans in Bid
to Shore Up Hotel Chain
By LINGLING WEI and PETER LATTMAN
Blackstone Group LP has begun talks with lenders to cut up to $5
billion from the $20 billion debt load carried by Hilton Worldwide, as
the private-equity firm seeks to protect its single biggest
investment, according to people familiar with the matter.
The Embassy Suites, here in Lake Tahoe, Nev., is one of Hilton's
brands.
The talks are part of a restructuring of corporate debt under way
across the economy. Companies hold roughly $1 trillion of senior loans
and high-yield bonds that mature before 2015, much of it issued in
leveraged buyouts from the middle of the decade. Many of those deals
were struck at sky-high valuations, and now owners are trying to fix
balance sheets to stave off default.
The talks also are another sign of the turmoil in the commercial real-
estate industry. Delinquencies on commercial mortgages held by banks
more than doubled to 4.7% in the third quarter, according to Foresight
Analytics.
In the Hilton negotiations, Blackstone is considering contributing
$800 million of new equity to buy back debt at a discount. It also is
seeking to extend debt maturing in 2013 to 2016, while converting some
junior slices of debt into equity. The $800 million in additional
equity would come from funds managed by Blackstone that already have
invested in the deal, the biggest equity investment ever made by the
24-year-old firm founded by Stephen Schwarzman and Peter G. Peterson.
Blackstone funds and co-investors originally put up $5.6 billion in
equity in the deal, while assuming $20 billion in debt. Because the
talks are in the preliminary stage, the people cautioned, it is
unclear what the outcome will be. But Blackstone hopes the debt load
will be cut by one-fourth, or $5 billion.
A number of issues are complicating the discussions. Roughly $4
billion of Hilton debt is held by the Federal Reserve, which assumed
the position from Bear Stearns Cos. as part of a sale of the
investment bank to J.P. Morgan Chase & Co. Also, the terms of the debt
limit Blackstone's ability to repurchase Hilton debt.
Many debt workouts require borrowers to seek consent from scores of
lenders, who bought the debt after it was securitized into bonds. The
Hilton situation is different because banks hold nearly all of the
debt, an unintended result of the closure of securitization markets
soon after the Hilton deal was announced.
A Blackstone spokeswoman declined to comment.
It isn't clear how active the Fed, which is being advised by BlackRock
Inc., will be in the talks. A Fed spokeswoman declined to comment.
With the capital markets opening over the past six months, large
private-equity firms are using a variety of financial maneuvers,
including exchange offers, open-market debt repurchases and tender
offers, to push off any financial pain. Kohlberg Kravis Roberts & Co.,
the most-active investor during the boom, has refinanced and extended
the maturities on more than $13 billion of debt at eight of its
portfolio companies, including hospital chain HCA Inc. and retailer
Toys "R" Us Inc., according to the firm.
In Blackstone's case, President Tony James said on a recent earnings
call that "you can effectively rewrite history by changing a company's
capital structure and reducing its leverage."
But Blackstone can't rewrite its acquisition of Hilton, a storied
hotel chain founded by Conrad Hilton in 1919, which owns or manages
2,900 hotels with some 490,000 rooms throughout the world.
The Beetham Tower, center, in Manchester, England, is home to the
Hilton Hotel towers. Since Blackstone's acquisition, the global hotel
market has gone into a downturn worse than any since the Great
Depression.
At the time, it was lauded as a coup for Blackstone as it was able to
line up $20 billion in financing from a group of seven banks,
including Bear Stearns Cos., Bank of America Corp., Deutsche Bank AG,
Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co. and
Lehman Brothers Holdings Inc. General Electric Co.'s finance arm, GE
Capital, wound up buying a $2 billion piece of the senior debt,
according to people familiar with the matter.
Representatives at the banks and GE declined to comment.
But the downturn in the hotel market, triggered by reduced business
and leisure travel, has sent values tumbling and turned the deal into
a burden.
The firm already has written down the value of its investment by two-
thirds, a paper loss of about $3.7 billion on the investment.
Hilton has been hit with some bad news since it was acquired by
Blackstone. Federal prosecutors are investigating whether the chain
and several of its former executives should face charges for allegedly
stealing confidential documents from rival Starwood Hotels & Resorts,
according to people familiar with the matter.
The Hilton deal also has figured prominently in the insider-trading
scandal that erupted this month, with prosecutors alleging Galleon
Group used nonpublic information on the Blackstone buyout. Blackstone
executives haven't been implicated in either of the investigations.
Blackstone has good reason to be nervous about Hilton. Since its
acquisition of the chain, the global hotel market has gone into a
downturn worse than any since the Great Depression.
Occupancy at U.S. hotels and average revenue per available room have
suffered their worst declines in a one-year period since Smith Travel
Research began tracking hotel-industry figures in 1987.
—Kris Hudson contributed to this article. |
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