SandRidge is 30 days away from defaulting because they aren't making their interest payment. And JB claims they will continue to make payroll. Once this thing goes bankrupt, no payroll, bonuses, severance packages. You will be left out looking in. JMHO.
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Hopefully nothing bad before the severance package is paid, I believe there are about 100 people waiting for the month end lump sum.
Whatever happens, we'll find out soon - they have to make the 2/15 payment by 3/14 (plus or minus a day), or they are in technical default
They "always" say that "negotiating with creditors" BS when they take the 30 day grace period, then they "always" declare Chapter 11 at the end of the grace period--count on it!!!! Sorry to be the bearer of bad tidings. I've seen a single exception, out of way/WAY too many cases:
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Walter Energy paid a Coupon at the end of a 30 day grace period. They only did it to pressure senior lenders-then they filed Chapter 11, just 4 weeks later! :-)
Hey guys, I was laid off and still think JB is trying his best. As for his pay, go the SD site and check the filings, he is not making 3M, I do agree that he has to many execs on the 29th+ floors. He should ask then to leave the fancy cars at home for now.
5sff you are right. Don't see this thing ending good. JB sends out another round of Koolaide every time bad news happens. Does he really think we are that stupid?
Sandridge did miss a interest payment.
On Wednesday, Oklahoma-based SandRidge Energy (SDOC) announced that it "elected to exercise its grace period" by deferring $21.7 million in interest payments that were due on Feb. 16, 2016.
JB is always good about putting a BS email out trying to rally the troops and save his $3 million job.
you are clueless. SD has enough cash to survive until the end of the year, debt starts kicking in 2020.
So in a hope that something positive happens in the next few months, we have hope until 4th quarter.
Trolls never die.
Give JB some credit.
Pretty much not true OP... Employees are the first priority creditors. Period the end. You are a DA!