tag:blogger.com,1999:blog-4863014635257598503.post5854729753505836548..comments2024-02-27T22:18:53.706-05:00Comments on Zero Hedge: Idearc And Crusader File For BankruptcyTyler Durdenhttp://www.blogger.com/profile/00165439451205639523noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4863014635257598503.post-85115116719210992712009-03-31T22:00:00.000-04:002009-03-31T22:00:00.000-04:00"Um... they make yellow pages for god's sake. Has ..."Um... they make yellow pages for god's sake. Has anyone told Mr. Klein about this recent invention known as Google?"<BR/><BR/>I hear you ZH. They really should have moved this company into the back room to collect dust with the buggy whip company.<BR/><BR/>Maybe, just maybe the depression will leave us without power and as such no Internet. Then this jewel will rise from the ashes and dominate!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-68525899606419900752009-03-31T20:08:00.000-04:002009-03-31T20:08:00.000-04:00Idearc and other directory businesses worldwide we...Idearc and other directory businesses worldwide were gobbled up by LBO firms circa 2002-2003. Those guys did a great job of bilking the moron bankers through constant dividend recaps and then IPO'd out at healthy valuations. Too bad they took those proceeds and invested in crap like Freescale, etc.Amit Chokshihttp://www.kinnaras.comnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-73045411004675473332009-03-31T17:20:00.000-04:002009-03-31T17:20:00.000-04:00I can't say I agree with your analysis on this one...I can't say I agree with your analysis on this one, Tyler. Idearc is a healthy business underneath the debt - Yellow Pages is still a very profitable business, heavily used in many communities, particularly by people older than 40, albeit a declining business(not unlike the traditional landline business of Verizon, which begat Idearc several years ago).<BR/><BR/>Their problem was that when Verizon spun them out to raise cash for the FIOS build out, they saddled Idearc with all the debt it could possibly bear, and clearly more, in order to strengthen Verizon's balance sheet and maximize the cash extraction. They didn't care about the future viability of Idearc, just about getting money in the door.<BR/><BR/>That's probably why this will be an easy bankruptcy - wipe out the debtholders and get back to business.ty webbhttp://bushwood.ccnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-47959740441948031922009-03-31T15:51:00.000-04:002009-03-31T15:51:00.000-04:00Tyler, you love the Idearc bankruptcy as it sits i...Tyler, you love the Idearc bankruptcy as it sits in the middle of two of your favorite topics: CDS settlement auctions and bonds/CDS basis packages.<BR/><BR/>There are a huge number of Idearc bonds currently held in basis packages, all of which should be put into the auction. This dynamic should really make the auction one to watch.Anonymousnoreply@blogger.com