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What's next at Granite Ridge?

N

nocoradio

It's July 31, 2009. On July 30, 2008 CC was taken over by the investment bankers, and while they didn't see layoffs in the future, the Securities Exchange Commission made them agree to certain conditions in the event layoffs occurred with a year of the closing.

http://www.secinfo.com/dsvrp.ubpz.htm#1stPage

Well. The year is up, and anything goes now.
 
The SEC didn't make the agree on the layoff severance; it was Clear Channel. In today's climate, the up to 9-months payout was pretty good and was a standard at some companies during their downturn. Today's offer by CC to pay 53 cents on a dollar on some bonds is another bell weather test for the company, and for the markets.
 
They didn't give everyone 9-months. Some people got nothing. Some people a month. But not everyone was treated as well as the media portrayed.
 
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