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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (25528)10/6/2000 11:59:50 PM
From: Ken98  Read Replies (1) of 436258
 
Luc, your neighbor Hicks is going to be approaching you to do a 1031 exchange soon - your box for his new house on Royal Lane.

Coming soon to a theater near you - "Trading Places":

<<Dallas, Oct. 4 (Bloomberg) -- Hicks Muse Tate & Furst Inc. and Kohlberg Kravis Roberts Inc. are discussing whether to cut their losses on a $1 billion bet on Regal Cinemas Inc. or up the ante by buying the theater chain's bankrupt rivals.

With Regal bonds selling for 12 cents on the dollar and lenders pushing to know how they'll get repaid, Hicks Muse's co- founder Thomas Hicks says the two buyout firms, among the world's biggest, have deep enough pockets to help revive the business. Five chains have declared bankruptcy the past 13 months and Regal has asked its bankers to ease terms on its debt payments. [...]

Investing in an industry shortly before its sudden collapse marks a rare stumble by the buyout specialists. It will trim returns and could make it tougher as they raise record sums. KKR is seeking up to $10 billion and Hicks Muse is trying to assemble a pool of as much as $5 billion. [...]

In 1998, Hicks Muse and KKR bought Regal Cinemas, the nation's biggest theater chain, for $500 million each, borrowing $1.2 billion from a group led by Bank of America Corp. They aimed to own one in four of the nation's movie screens. [...]>>

$500M on a busted theater chain after blowing almost that much for 15+ million shares of ICGX:

finance.yahoo.com

Ooops.
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