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Gold/Mining/Energy : ATPG Shareholders
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To: redsoxguy who wrote (2931)3/28/2013 11:12:21 AM
From: mrpanick2 Recommendations  Read Replies (1) of 3620
 
The fact that taxes have gone up and that higher taxes have been advocated by Obama for oil companies is relevant to the potential valuation of deferred tax assets. Higher taxes and the prospect of further increases for oil companies means that deferred tax assets are of greater value.

ATP has massive deferred tax assets. We recently saw a court order designed to protect the potential value of those tax assets. A change of control would void the tax assets. A restructuring plan may very well be designed to avoid a change of control even if it means giving some nominal value to equity and preferred holders that they would not otherwise be entitled to under "the law". I gave a specific example of that in another bankruptcy case - Capitol Bancorp.

Seems to me that you are in denial if you don't think politics - as it influences tax rates - has anything to do with events here. I'm not a fan of Obama, but in this case pointing the impact of his poor policies is relevant to ATPG. If you don't like it tough shit.
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