From a popular investor newsletter: "This Friday, Dec. 12th, the next stage of the financial crisis will begin. That's when one of America's biggest businesses (they operate in 44 states), will undoubtedly declare bankruptcy. How can I be so sure it will happen on Friday, December 12th? Two words: Un-payable debt. You see, the company I'm talking about, which is the 2nd biggest in its industry, and is headquartered in Chicago, has until Friday, December 12th at midnight to pay back a $900 MILLION loan. In the current market, this amount of debt is lethal. The company is currently paying over $1 billion per year in interest expenses to finance their debt—that's MORE THAN THEIR OPERATING INCOME. (That's like having a mortgage payment that's bigger than your entire paycheck.) There is absolutely no way the company can make this $900 million payment or raise this kind of money." Unfortunately, we are never told who it is although I remember reading a financial report a few days ago regarding this company, I don't remember who it was. It deals in commodities. In honor of black Friday, a black violin.
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