Category: Recapitalization

Twilight at the Groucho Marx club: Part 3, From whatever source

3 August, 2016 (09:00) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   After the previous two parts, using as source material articles from the Economist (July 3, 2016) and the Wall Street Journal (July 27, 2016; blue font). It has become apparent that though Italy is by no means an equal […]

Twilight at the Groucho Marx club: Part 2, New rules bent the first time they are tested

2 August, 2016 (09:00) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   [Continued from yesterday’s Part 1.]   In yesterday’s Part 1, I returned to the Eurozone’s continuing slow train wreck of the Eurozone, where one country after another promises improved behavior, then cannot achieve its promise.   Judge Smails: You know, despite what happened, I’m still convinced you have many fine […]

Twilight at the Groucho Marx club: Part 1, That was always the plan

1 August, 2016 (09:13) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   When in a moment of financial exuberance you join that exclusive club whose members and surroundings you’ve envied for years you seldom think of the downside.  No, once you’re In you’ll capitalize on all those Insider opportunities, and now that you’ve managed to raise the initiation fee, the ongoing dues […]

Stuy, stuy again? Part 5, The different future

4 November, 2015 (10:00) | Affordability, Air rights, Apartments, Blackstone, Capital markets, de Blasio, Investments J-51, Negotiation, New York City, Recapitalization, Regulation, Rent stabilization, Rental, Stuyvesant Town, Tax abatement, US News, Workforce housing |

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3] By: David A. Smith Not only does the story of Stuyvesant appear heading for a happy ending – at least for those still standing, such as the current mayor and the buyer Blackstone, if not for those bruised and battered […]

Stuy, stuy again? Part 4, The different prospects

3 November, 2015 (10:00) | Affordability, Air rights, Apartments, Blackstone, Capital markets, de Blasio, Investments J-51, Negotiation, New York City, Recapitalization, Regulation, Rent stabilization, Rental, Stuyvesant Town, Tax abatement, US News, Workforce housing |

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith As we saw in the three preceding parts of this sage, Blackstone’s purchase of Stuyvesant Town from the post-foreclosure bondholders, and its simultaneous affordability restructuring agreement, was the logical (perhaps in hindsight inevitable) outcome of the property’s history […]