Thread regarding McDermott International Inc. layoffs

Banks calling in outstanding loans - Credit Froze

The stock is crashing and the lenders are calling in the debt. They want to get something before it is all gone. We will be bankrupt by the end of the week.

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Post ID: @VUjNr0u

10 replies (most recent on top)

The stock (way too low) will be first delisted from S&P 500, in this case, institutions will have to automatically dump the stocks from their holdings, which will further crush the stock dramatically. This happened to Foster Wheeler in 2003~2004, which finally bottomed at $0.75 a share. After struggling for couple of years, FW reverse split the stock 20 for 1, to $15 a share, looked nicer but the market cap remained the same.

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Post ID: @VUjNr0u-3qrj

mo--n - debt is on term - they arent ‘calling their debt’. Go to school.

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Post ID: @VUjNr0u-2mya

How can i get a severance package before this thing burns down?

This is the real question you all should be asking yourselves

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Post ID: @VUjNr0u-1fae

Serves them right, all executive management does is worship money. Not engineering and quality. The money will come if you do the right thing.

Pigs get fat, hogs get slaughtered. Can't fix stupid.

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Post ID: @VUjNr0u-1wes

Banks probably forced the sale of SPS and pipe fab

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Post ID: @VUjNr0u-oqt

It needs to go below a dollar before trading is halted. But I had one company which went down to 58 cents before the folks did a reverse split of 1:15. It didn't help much either other than the face value.

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Post ID: @VUjNr0u-aiy

How can i get a severance package before this thing burns down?

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Post ID: @VUjNr0u-noe

They only halt trading on stocks which affect the indices. This will go Down by 70% by close

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Post ID: @VUjNr0u-uqu

Sadly, once a company is in bankruptcy employees who are laid off are added to the list of creditors for owed wages and benefits. Payouts then must be approves by the bankruptcy court.

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Post ID: @VUjNr0u-roz

Does anyone know how low the stock must go before they halt trading? I'm worried we will all have to find another job very soon. If they do file for bankruptcy will we still get severance?

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Post ID: @VUjNr0u-xoa

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