Re: Clear Channel lenders threaten refinancing plan

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Posted by Ben on June 28, 2009 at 08:19:13:

In Reply to: Clear Channel lenders threaten refinancing plan posted by madcityradio.com on June 04, 2009 at 09:04:38:

: Clear Channel lenders threaten refinancing plan

Honestly, Bain-Capital (and many, many other companies) paid too much for the properties they now own. A few years ago when notes came due to pay the financer, they would just restructure the debt in hopes sales would pick up and/or the properties value would increase. Sales are down, property values are down.

Now what? Lay off more and more people and shift the savings to debt reduction. Sad truth is, CC could lay off ALL their employees and still not have enought to pay off their debt. Keep watching..

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: : Clear Channel lenders threaten refinancing plan : Honestly, Bain-Capital (and many, many other companies) paid too much for the properties they now own. A few years ago when notes came due to pay the financer, they would just restructure the debt in hopes sales would pick up and/or the properties value would increase. Sales are down, property values are down. : Now what? Lay off more and more people and shift the savings to debt reduction. Sad truth is, CC could lay off ALL their employees and still not have enought to pay off their debt. Keep watching..

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