NEWS CORP FALL 2008 - COMMON TRADING AT A 62% DISCOUNT TO 8MONTHS AGO

FANNIE AND FREDDIE STING BANK OF CHINA

http://www.nytimes.com/2008/09/05/business/worldbusiness/05yuan.html?_r=1&ref=business&oref=slogin

MOTHER RUSSIA NO GOOD FOR RTS, MICEX

http://www.bloomberg.com/apps/news?pid=20601087&sid=afAvlgTbOoAg&refer=home

http://www.bloomberg.com/apps/news?pid=20601087&sid=axivzo1gijm8&refer=home

HARBINGER AT 4.9% IN CABLEVISION

http://dealbook.blogs.nytimes.com/2008/08/18/as-hedge-fund-ups-stake-cablevision-announces-dividend/

USD - CNY, which way will the balance tip...

http://www.bloomberg.com/apps/news?pid=20601087&sid=akr7J7kMoxeo&refer=home

Karmazin gets approval - 18mos in the making

"The first thing I did when I came to CBS was sell all the art."

http://www.nytimes.com/2008/08/06/technology/06radio.html?_r=1&adxnnl=1&dlbk=&oref=slogin&adxnnlx=1218031265-pGaF89X734vaVQDN7yIEng

Hard Money Lending - Hedge Funds replace traditional commercial loans...

http://www.hedgeco.net/news/08/2008/a-small-business-loan-from-a-hedge-fund.html

HIGH JOBLESS RATE, HIGH INFLATION - GONNA PARTY LIKE ITS 1979

http://www.bloomberg.com/apps/news?pid=20601087&sid=ado8GLitIFNw&refer=home

Harbinger SC13G for Sunoco

http://www.sec.gov/Archives/edgar/data/95304/000091957408004110/d903095_13-g.txt

Bold move by GS capitalizes on commercial banking credit crunch; senior debt fund for buyouts

http://www.nytimes.com/reuters/business/business-goldman-lbo.html?_r=1&oref=slogin

Quattrone on the plight of IPO markets, removal of the chinese wall btwn research and banking

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/23/BUBG11UGV2.DTL&type=tech

Projected Solar Installations by 2020

T Boone Picken's Plan

http://www.pickensplan.com/theplan/

The following trends and events are identified as material to an assessment of China’s near- and mid-term economic outlook:

1. The extent of dependency of the Chinese government on hard currency earnings derived from manufactured exports supported largely by U.S. consumer spending.
2. The depth of the retreat in U.S. consumer spending and the high probability of a prolonged contraction of the U.S. economy.
3. The fundamental dynamics responsible for China’s domestic wage and price inflation and the increased risk of political instability attributable to the rising cost of imported consumer and industrial commodities, reduced demand for export products, and a significant increase in urban unemployment.
4. The rate of increase of China’s petroleum consumption and the dependency of China’s export manufacturing sector on petroleum imports.
5. China’s ability to maintain the global competitiveness of Chinese manufactured goods in the face of rapidly increasing transportation costs.
6. Government debt statistics evidencing an unsustainable overreliance on debt financing, particularly short-term debt, to sustain economic growth.
7. Repudiation by the Government of China of $260 billion of its sovereign debt and the pending reclassification of the Chinese government’s sovereign credit rating into ‘Selective Default’.

CHINA HAS NO PROBLEMS WITH DRILLING OFFSHORE

http://www.ft.com/cms/s/0/6c5361c4-4c4e-11dd-96bb-000077b07658,dwp_uuid=9c33700c-4c86-11da-89df-0000779e2340.html?nclick_check=1

MORE CASINO DISTRESS

http://www.independent.co.uk/news/world/americas/down-and-out-in-las-vegas-860513.html

SHARE PRICES ARE RAPIUDLY DECLINING, SEVERAL MARQUEE BRANDS ARE IN OR HEADED INTO BANKRUPTCY AND BUYOUTS OF OPERATORS LIKE PENN NATIONAL ARE GETTING SHELVED. THE TIME TO MOVE IN IS COMING.

HARBINGER PUTS INMARSAT IN PLAY

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1892319&source=RNS

EUROPE v US v CHINA REFINERY BPD COMPARISON

AVG EUROPEAN REFINER = 145,000 BARRELS PER DAY

AVG US REFINER = 110,000 BARRELS PER DAY

AVG CHINESE REFINER = 48,000 BARRELS PER DAY (MORE THAN HALF PRODUCE LESS THAN 20,000 BPD)

CONCLUSION = CHINA REFINERY INDUSTRY IS RIPE FOR CONSOLIDATION AND CAPITAL IMPROVEMENTS.

REFINERS SHUTDOWN OR IN MAINTENANCE

http://www.coking.com/Forum/tm.asp?m=1979

US REFINERY OPS RANKED BY BARREL OUTPUT

U.S. Refineries Operable Capacity
(Atmospheric Crude Oil Distillation Capacity
as of January 1, 2007)

Rank	Company Name	State	Site	Barrels per Calendar Day
1	Exxonmobil Refining & Supply Co	Texas	Baytown	562,500
2	Exxonmobil Refining & Supply Co	Louisana	Baton Rouge	503,000
3	Citgo Petroleum Corp	Louisana	Lake Charles	429,500
4	Bp Products North America Inc	Texas	Texas City	417,000
5	Bp Products North America Inc	Indiana	Whiting	410,000
6	Exxonmobil Refining & Supply Co	Texas	Beaumont	348,500
7	Sunoco Inc (R&M)	Pennsylvania	Philadelphia	335,000
8	Deer Park Refining Ltd Partnership	Texas	Deer Park	333,700
9	Chevron Usa Inc	Mississippi	Pascagoula	330,000
10	Wrb Refining Llc	Illinois	Wood River	306,000
11	Flint Hills Resources Lp	Texas	Corpus Christi	288,126
12	Motiva Enterprises Llc	Texas	Port Arthur	285,000
13	Flint Hills Resources Lp	Minnesota	Saint Paul	279,300
14	Houston Refining Lp	Texas	Houston	270,200
15	Bp West Coast Products Llc	California	Los Angeles	265,000
16	Chevron Usa Inc	California	El Segundo	260,000
17	Premcor Refining Group Inc	Texas	Port Arthur	260,000
18	Conocophillips Company	Louisana	Belle Chasse	247,000
19	Conocophillips Company	Texas	Sweeny	247,000
20	Marathon Petroleum Co Llc	Louisana	Garyville	245,000
21	Chevron Usa Inc	California	Richmond	242,901
22	Motiva Enterprises Llc	Louisana	Norco	242,200
23	Conocophillips Company	Louisana	Westlake	239,400
24	Exxonmobil Refining & Supply Co	Illinois	Joliet	238,600
25	Conocophillips Company	New Jersey	Linden	238,000
26	Motiva Enterprises Llc	Louisana	Convent	235,000
27	Total Petrochemicals Inc	Texas	Port Arthur	232,000
28	Bp West Coast Products Llc	Washington	Ferndale (Cherry Poi	225,000
29	Marathon Petroleum Co Llc	Kentucky	Catlettsburg	222,000
30	Valero Refining Co Texas	Texas	Texas City	218,500
31	Flint Hills Resources Alaska Llc	Alaska	North Pole	210,000
32	Conocophillips Company	Oklahoma	Ponca City	194,000
33	Chalmette Refining Llc	Louisana	Chalmette	192,760
34	Marathon Petroleum Co Llc	Illinois	Robinson	192,000
35	Valero Refining New Orleans Llc	Louisana	Norco	185,003
36	Conocophillips Company	Pennsylvania	Trainer	185,000
37	Premcor Refining Group Inc	Delaware	Delaware City	182,200
38	Premcor Refining Group Inc	Tennessee	Memphis	180,000
39	Sunoco Inc	Pennsylvania	Marcus Hook	178,000
40	Valero Energy Corporation	Texas	Sunray	171,000
41	Pdv Midwest Refining Llc	Illinois	Lemont (Chicago)	167,000
42	Tesoro Refining & Marketing Co	California	Martinez	166,000
43	Sunoco Inc	Ohio	Toledo	160,000
44	Valero Refining Co New Jersey	New Jersey	Paulsboro	160,000
45	Citgo Refining & Chemical Inc	Texas	Corpus Christi	156,000
46	Shell Oil Products Us	California	Martinez	155,600
47	Exxonmobil Refining & Supply Co	California	Torrance	149,500
48	Premcor Refining Group Inc	Ohio	Lima	146,120
49	Wrb Refining Llc	Texas	Borger	146,000
50	Shell Oil Products Us	Washington	Anacortes	145,000
51	Sunoco Inc	New Jersey	Westville	145,000
52	Valero Refining Co California	California	Benicia	144,000
53	Valero Refining Co Texas	Texas	Corpus Christi	142,000
54	Conocophillips Company	California	Wilmington	139,000
55	Bp Products North America Inc	Ohio	Toledo	131,000
56	Western Refining Company Lp	Texas	El Paso	122,000
57	Murphy Oil Usa Inc	Louisana	Meraux	120,000
58	Tesoro West Coast	Washington	Anacortes	120,000
59	Coffeyville Resources Llc	Kansas	Coffeyville	112,000
60	Frontier El Dorado Refining Co	Kansas	El Dorado	107,500
61	Marathon Petroleum Co Llc	Michigan	Detroit	100,000
62	Pasadena Refining Systems Inc	Texas	Pasadena	100,000
63	Shell Oil Products Us	California	Wilmington	97,000
64	Conocophillips Company	Washington	Ferndale	96,000
65	Tesoro Hawaii Corp	Hawaii	Kapolei	93,500
66	Valero Energy Corporation	Texas	Three Rivers	93,000
67	Valero Refining Co Oklahoma	Oklahoma	Ardmore	87,400
68	Sunoco Inc	Oklahoma	Tulsa	85,000
69	Navajo Refining Co	New Mexico	Artesia	84,000
70	Valero Refining Co Texas	Texas	Houston	83,000
71	Ncra	Kansas	Mcpherson	81,200
72	Ultramar Inc	California	Wilmington	80,887
73	Chevron Usa Inc	New Jersey	Perth Amboy	80,000
74	Shell Chem Lp	Alabama	Saraland	80,000
75	Valero Refining Co Louisiana	Louisana	Krotz Springs	80,000
76	Calcasieu Refining Co	Louisana	Lake Charles	78,000
77	Conocophillips Company	California	Rodeo	76,000
78	Marathon Petroleum Co Llc	Ohio	Canton	73,000
79	Marathon Petroleum Co Llc	Texas	Texas City	72,000
80	Tesoro Alaska Petroleum Co	Alaska	Kenai	72,000
81	Sinclair Oil Corp	Oklahoma	Tulsa	70,300
82	Lion Oil Co	Arkansas	El Dorado	70,000
83	Marathon Petroleum Co Llc	Minnesota	Saint Paul Park	70,000
84	Alon Usa Energy Inc	Texas	Big Spring	67,000
85	Big West Of California	California	Bakersfield	66,000
86	Sinclair Oil Corp	Wyoming	Sinclair	66,000
87	United Refining Co	Pennsylvania	Warren	65,000
88	Suncor Energy (Usa) Inc	Colorado	Commerce City	62,000
89	Exxonmobil Refining & Supply Co	Montana	Billings	60,000
90	Giant Yorktown Refining	Virginia	Yorktown	59,375
91	Conocophillips Company	Montana	Billings	58,000
92	Delek Refining Ltd	Texas	Tyler	58,000
93	Tesoro West Coast	North Dakota	Mandan	58,000
94	Tesoro West Coast	Utah	Salt Lake City	58,000
95	Placid Refining Co	Louisana	Port Allen	56,000
96	Cenex Harvest States Coop	Montana	Laurel	55,000
97	Shell Chem Lp	Louisana	Saint Rose	55,000
98	Chevron Usa Inc	Hawaii	Honolulu	54,000
99	Wynnewood Refining Co	Oklahoma	Wynnewood	54,000
100	Paramount Petroleum Corporation	California	Paramount	50,000
101	Petro Star Inc	Alaska	Valdez	48,000
102	Frontier Refining Inc	Wyoming	Cheyenne	47,000
103	Chevron Usa Inc	Utah	Salt Lake City	45,000
104	Conocophillips Company	California	Arroyo Grande	44,200
105	Calumet Shreveport Llc	Louisana	Shreveport	42,000
106	Us Oil & Refining Co	Washington	Tacoma	37,850
107	Hunt Refining Co	Alabama	Tuscaloosa	34,500
108	Murphy Oil Usa Inc	Wisconsin	Superior	34,300
109	Edgington Oil Co Inc	California	Long Beach	33,000
110	Citgo Asphalt Refining Co	New Jersey	Paulsboro	32,000
111	Suncor Energy (Usa) Inc	Colorado	Denver	32,000
112	Big West Oil Co	Utah	North Salt Lake	29,400
113	Citgo Asphalt Refining Co	Georgia	Savannah	28,000
114	Kern Oil & Refining Co	California	Bakersfield	26,000
115	Holly Corp Refining & Marketing	Utah	Woods Cross	24,700
116	Little America Refining Co	Wyoming	Evansville (Casper)	24,500
117	Countrymark Cooperative Inc	Indiana	Mount Vernon	23,000
118	Ergon Refining Inc	Mississippi	Vicksburg	23,000
119	Giant Refining Co	New Mexico	Gallup	20,800
120	Ergon West Virginia Inc	West Virginia	Newell (Congo)	20,000
121	Petro Star Inc	Alaska	North Pole	17,500
122	Giant Industries Inc	New Mexico	Bloomfield	16,800
123	Gulf Atlantic Operations Llc	Alabama	Mobile	16,700
124	Conocophillips Alaska Inc	Alaska	Kuparuk	15,000
125	San Joaquin Refining Co Inc	California	Bakersfield	15,000
126	Wyoming Refining Co	Wyoming	Newcastle	14,000
127	Calumet Lubricants Co Lp	Louisana	Cotton Valley	13,020
128	Age Refining Inc	Texas	San Antonio	13,000
129	Bp Exploration Alaska Inc	Alaska	Prudhoe Bay	12,500
130	Hunt Southland Refining Co	Mississippi	Sandersville	11,000
131	Silver Eagle Refining	Utah	Woods Cross	10,250
132	American Refining Group Inc	Pennsylvania	Bradford	10,000
133	Greka Energy	California	Santa Maria	9,500
134	Montana Refining Co	Montana	Great Falls	9,500
135	Lunday Thagard Co	California	South Gate	8,500
136	Calumet Lubricants Co Lp	Louisana	Princeton	8,300
137	Cross Oil Refining & Marketing Inc	Arkansas	Smackover	7,200
138	Valero Refining Co California	California	Wilmington	6,300
139	Somerset Refinery Inc	Kentucky	Somerset	5,500
140	Goodway Refining Llc	Alabama	Atmore	4,100
141	Silver Eagle Refining	Wyoming	Evanston	3,000
142	Tenby Inc	California	Oxnard	2,800
143	Foreland Refining Corp	Nevada	Eagle Springs	2,000
	U.S. Total			17,443,492

BAOSTEEL AGRESS TO PAY ANNUAL IRON ORE PREMIUMS AS HIGH AS 96.5%!

http://www.bhpbilliton.com/bb/investorsMedia/news/2008/bhpBillitonAgreesIronOrePricesWithBaosteelChina.jsp

http://www.chinadaily.com.cn/bizchina/2008-01/31/content_6433248.htm

http://www.china.org.cn/business/2008-07/04/content_15956298.htm

AN EXPLANATION OF THE RISE OF SUBRIME CDO'S

http://www.rgemonitor.com/blog/setser/212496

CHINA STOCK MARKET BY THE NUMBERS...

Remember all those lines about how the Shanghai stock market - like the Chinese economy generally — would hold firm right through until the Olympics?

Well, here’s the Shanghai Composite, over two years:

And here’s the Beijing Olympic stadium, where finishing touches are still being made to the construction.

The Shanghai Composite fell a further 5.3 per cent to 2748 on Friday amid rumours of an inflation-fighting rate hike this weekend. But worry not, Shanghai speculators - there is a limit to the pain the Chinese authorities expect you to endure. From the Xinhua news agency:

China’s securities regulator on Wednesday ordered publicly-traded companies to boost corporate governance in the latest move to stabilize the equities market.

A long-term mechanism should be put into place to prevent the majority shareholders and affiliates from embezzling funds of the listed firms, the China Securities Regulatory Commission (CSRC) said.

Board directors, supervisors and senior executives would be turned in to prosecutors if found helping the embezzlement, the CSRC noted.

The companies should strive to tackle the problems before Nov. 30. The regulator said it would not approve any stock incentive and refinancing applications if they failed to meet the deadline.

The CSRC also urged to improve the information disclosure mechanism to avoid insider trading and price manipulation for the interest of the small and medium investors.

CSRC Chairman Shang Fulin on Sunday pledged to rationally balance the market supply and demand, and regulate the pace of fund raising to promote a stable and healthy development of the capital market.

Shang added the regulator would boost a crackdown on market manipulation, irregular information disclosure, and false information and rumors.

With the series of measures, the securities regulator hoped to boost investor confidence and stem share falls, analysts said.

ICAHN ON YAHOO

http://www.icahnreport.com/

PROJECT BETTER PLACE - ELECTRIC CARS IN ISRAEL

This is a bold solution to energy independence and carbon footprint reduction...

http://www.projectbetterplace.com/

BUFFET ON SELLING TO BH vs. PE

``You can sell it to Berkshire, and we'll put it in the Metropolitan Museum; it'll have a wing all by itself; it'll be there forever,'' he says at the February meeting. ``Or you can sell it to some porn shop operator, and he'll take the painting and he'll make the boobs a little bigger and he'll stick it up in the window, and some other guy will come along in a raincoat, and he'll buy it.''

Substantial basis point increases for Auto related CDS

Human beings will still drive.


http://ftalphaville.ft.com/blog/2008/06/25/14060/cds-report-market-hammers-us-car-industry/

UK TIMBER - NO INCOME / CORP TAXES

In the 12 months to December 2007, forestry in the UK returned 31.6 per cent on the back of surging timber prices, compared with 5.3 per cent for equities, 6.4 per cent for bonds and a negative 3.4 per cent on commercial property.

According to Investment Property Databank:

Substantial fiscal advantages available to the investor through investment in forestry, including the fact that income from timber sales in the UK is free of Income and Corporation Tax and growing timber is exempt from Capital Gains Tax. Further, after two years of ownership, commercial woodlands qualify for 100 per cent Business Property Relief from Inheritance Tax.

Also, see...

http://www.ft.com/cms/s/0/3d67b1f4-0f13-11dc-b444-000b5df10621.html?nclick_check=1

2007 US AD SPEND

WHY REFINERS REPRESENT ATTRACTIVE VALUE

http://www.bloomberg.com/apps/news?pid=20601213&sid=aC42xa9nwu5A&refer=home

THE CASE AGAINST LEHMAN

EINHORN'S CASE
http://www.youtube.com/watch?v=WtKXAoZV84o

LEHMAN CFO RESPONSE
http://www.youtube.com/watch?v=0o4eau98h_w&feature=related

THE CASE AGAINST BOND ISSURERS

http://www.youtube.com/watch?v=neQK0DFIt84&feature=related

http://www.youtube.com/watch?v=IdpoamnN49A&feature=related

http://www.youtube.com/watch?v=5sWppeJ8LaE&feature=related

JANA DROPS THE FIGHT

This is textbook execution and an excellent conclusion. Bravo.

http://uk.reuters.com/article/mediaNews/idUKN1932010620080619?dbk

AN ACTIVIST ICAHN: PAYING HOMAGE

http://www.icahnreport.com/

PETROL INFLATION IN CHINA: AN IMMINENT BACKLASH?

http://www.nytimes.com/2008/06/21/business/worldbusiness/21gas.html?ref=business

CHINA AS A COMMODITY VORTEX : CEMENT DEMAND

TOTAL RETURN SWAPS - CSX v. TCI, official legal brief

This is the most important case affecting event driven funds today - amendment to disclosure requirements of TRS derivatives will take away an advantageous strategic weapon from an activist's array. This doc delineates the pre-trial discovery leading up to the ruling, fascinating.

http://www1.nysd.uscourts.gov/cases/show.php?db=special&id=79

OILS HISTORICAL REAL & NOMINAL PRICING SINCE 1900

http://www.forbes.com/2005/11/01/oil-prices-1861-today-real-vs-nominal_flash.html?feed=rss_news

HEDGE FUNDS SUPPLANT TRADITIONAL BANKS IN LENDING SENIOR DEBT

http://www.nytimes.com/2008/06/13/business/13hedge.html?_r=1&dbk&oref=slogin

DISTRESSED FUNDS ATTRACTING MORE CAPITAL

http://dealbook.blogs.nytimes.com/2008/06/18/gso-and-monarch-said-to-raise-funds-for-distressed-investing/


HATZLOCHA ANDREW

YAHOO BOARD UPDATE

http://dealbook.blogs.nytimes.com/2008/06/18/some-support-remains-for-icahns-yahoo-slate/

CSX vs. TCI, updated

http://dealbook.blogs.nytimes.com/2008/06/10/csx-grasps-at-straws-to-end-proxy-battle/

Cerberus / Chrysler Update via Nardelli

http://www.nytimes.com/reuters/business/business-chrysler-nardelli.html?_r=1&dbk&oref=slogin

OPTIONALITY PROVISIONS AS PER REVERSE TERMINATION FEES

http://dealbook.blogs.nytimes.com/2008/06/11/neither-fish-nor-fowl/

EQUITY SWAPS FOR THE PURPOSE OF GAINING MAJORITY CONTROL WITHOUT A SC13D RULED LEGIT BY SEC

http://www.marketwatch.com/news/story/story.aspx?guid=%7B5D4BF9A0%2D2AFC%2D4705%2DA22C%2D9977E258703C%7D&siteid=dbk

AMENDING THE 1968 WILLIAMS ACT: THE FUTURE OF THE TENDER OFFER

http://dealbook.blogs.nytimes.com/2008/06/06/the-future-of-tender-offer-regulation/

via SETH KLARMAN, BAUPOST GROUP...

http://1-2knockout.typepad.com/12_knockout/files/Seth_Klarman_MIT_Speech.pdf

6/4/08 MARKET CLOSES...

US markets
DJIA down 100.97 at 12,402.85
Nasdaq down 11.05 at 2,480.48
S&P500 down 8.02 at 1,377.65

Asian markets
05:17am BST
Nikkei up 146.61 at 14,355.78
Topix up 13.44 at 1,420.88
Hang Seng down 77.21 at 24,298.55

European markets
FTSE100 up 50.09 at 6,057.70
Eurofirst 300 up 9.94 at 1,329.07

Currencies
05.17am BST
€/$ 1.5447 (1.5531)
$/Y 105.16 (104.33)
£/$ 1.9628 (1.9626)

Commodities
Brent Crude (Jul) down $0.38 at $124.20
Light Crude (Jul) down $0.40 at $123.91
Copper 24HR down $25.00 at $7,865.00
100 Oz Gold (Jun) down $2.60 at $882.90

10-year government bond yields (%)
US 3.92 (3.98)
UK 5.03 (4.95)
Germany 4.43 (4.36)
Japan 1.78 (1.72)

NG Storage as insurance

Centaurus, Carlyle, Quantum Energy buy NG storage tanks

Gas caverns are used to maintain NG holdings under anticipation of a price rise - increased volatility means a higher premium for storage.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aC0XVAQrWCiU&refer=home

MOBILE VOIP OPTIONS

http://gigaom.com/2008/06/03/mobile-voip/

THE WENCHUAN EARTHQUAKE, CHINA

2.28pm on May 12th, 90km from Chengdu, Sichuan Province, a 7.9 richter scale earthquake erupts with the force equivalent to 400 atomic bombs. This is the single greatest force majeure of the current Chinese generation. See link below.

http://www.ft.com/cms/s/0/3201043a-210c-11dd-a0e6-000077b07658,dwp_uuid=9c33700c-4c86-11da-89df-0000779e2340.html

10YR TREASURY YIELDS ACROSS GLOBAL MARKETS

FED: BERNANKE REMARKS

http://www.bloomberg.com/apps/news?pid=20601087&sid=alQst9kC7wV4&refer=home

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDDOmSR74wEE&refer=home

FED IN UNCHARTED TERRITORY

Sc 13D & SHARE SWAPS

driving change or parking stock - for my money, less legislation the better, boards beware.


http://dealbook.blogs.nytimes.com/2008/05/23/the-rules-of-engagement/

AIRLINE'S DISTRESS

Another one bites the dust - Silverjet is terminating ops, joining the ranks of EOS, Frontier, Hawaii, ATA this year in bankruptcy court.

http://www.iht.com/articles/2008/05/30/business/jet.php

ELECTING THE PIK TOGGLE

Pay-In-Kind notes may near-term alleviate pressure on cashflows but is this a band-aid on a bullet wound?

http://www.ft.com/cms/s/0/e3f2c884-30f4-11dd-bc93-000077b07658.html?dlbk

CASINO'S IN DISTRESS

High yield recap's of casino industry confront "recession-proof" supposition...

http://www.bloomberg.com/apps/news?pid=20601213&sid=ai5fFOMi9bag&refer=home