Index
Absolute priority rule
Acme Metals
Adamar
Ad hoc committees
Agent banks
Agfa-Gevaert
Algoma Steel
cash flow analysis
new substantial issuer bid
purchase offer
reorganization
special dividend
AlixPartners
American Airlines
American International Group (AIG)
Ameristar Casinos Inc.
Andrews Plan
Appaloosa Management
Appel, Larry
Arbess, Dan
Arch Wireless
Armstrong World Industries
Asbestos producers
Armstrong World Industries
Congoleum
Federal Mogul
Johns-Manville
legal liability as leverage
Owens Corning
USG Corporation
W. R. Grace
Walter Industries
Asian currency devaluation (1990s)
Asset-based revolving credit facility (ABL)
AT&T Annual Stock Picking Contest
Audubon, John James
Automatic stay provisions
Axe sheets
Aztar Corporation
Bailouts
Bank of America
Basel III
Bayou Steel
Bear Stearns
Becker, George
Bennett Management
Berkshire Hathaway
Bethlehem Steel
BI-LO
Birmingham Steel
Blackstone Group
Blocking position
Bloom, Ron
Bloomberg, Sandy
Bond offerings, cash reserve for interest payments
Bonuses
Breast implants
Breed Technologies, Inc.
Buffett, Warren
Buybacks
Buy-side analysts
Calpine
Canada
Capstone Advisory Group
Carlyle Group
Cerberus Capital Management
Chapter 11 bankruptcy. See also Fulcrum securities; names of specific companies
exemption from SEC registration requirements
government interference
net operating loss carryforwards
“Chapter 22” bankruptcy
Chrysler Automotive
acquisition by Daimler
agent bank
cash flow analysis
Cerberus buyout loans
corporate structure
cost of bailout
debt-restructuring plan
employee pension and health liabilities
first-lien loans
liquidation analysis
organizational structure
Recovery and Transformation Plan (2007)
reorganizations
second-lien loans
third-lien loans
workout analysis
Chrysler Financial
Chrysler LLC
Citigroup
Class-action lawsuits
legal liability as leverage for asbestos producers
Tropicana
Winn-Dixie
Cogan, Marshall
Collateralized loan obligation (CLO) funds
Collins & Aikman
Colony Capital LLC
Columbia University
Companies’ Creditors Arrangement Act (CCAA; Canada)
Compensation:
executive
professional fees
Conflicts of interest:
agent bank in syndicated bank loans
Chrysler Automotive reorganization
professional fees in bankruptcy filings
Tweeter reorganization
watching for
Winn-Dixie Stores, Inc.
Congoleum
Costco
Counterparty risk
Covenant-lite loans
Credit default swaps (CDS)
Credit events
Creditors’ committees
Creditor trust
Credit Suisse
Daily axe sheets
Daimler
Daimler-Benz AG
Dalton Investments
Davis, Carl
Deal fatigue
Debtor-in-possession (DIP) loans
Delphi Automotive
Delphi Corporation
Derivatives:
counterparty risk
credit default swaps (CDS)
interest-rate swaps
quick derivative collateral liquidation
subprime loan swaps
Dividends, special
Dixie Home Stores
Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)
Donaldson, Lufkin & Jenrette (DLJ)
Dr. Totorra’s Dog Kennel
Dunne, Pete
Dynegy Holdings
cash flow analysis
chapter 11 bankruptcy
reorganization
short sales
silo subsidiaries
Dynegy Inc.
EBITDA (earnings before interest, taxes, dividends, and amortization)
Algoma Steel
Breed Technologies, Inc.
Dynegy Holdings
Marvel Entertainment Group
Northwest Airlines
Tropicana Casinos and Resorts Inc.
Tweeter Home Entertainment Group
Washington Group International (WGI)
Winn-Dixie Stores, Inc.
80/20 rule
Einhorn, David
Elliott Management
Enron
Environmental regulations. See also Asbestos producers
Foamex and
Ernst & Young
Essar Steel Algoma
Executive compensation
FAIR Act
Federal Deposit Insurance Corporation (FDIC)
Federal Mogul
Federal Rules of Bankruptcy Procedure, Rule 2004
Fiat
Fiduciary Partners
59 Maiden Lane Associates
Financial crisis of 2008 - 2009
Financial derivatives
Financial modeling database
Firestone Tire & Rubber
First-lien term loans
Fleer/Skybox
Foamex International Inc. (FMXI)
Foamex-JPS Automotive LP (FJPS)
Foamex LP
foosball
Footprint reduction
Ford Heights Waste Tire to Energy Facility (Illinois)
Ford Motor
Franklin Mutual Advisers Funds
Fraudulent transfers
Freedom Forge Corporation
Front-running
Fulcrum securities:
in Algoma Steel deal
debt-to-equity conversion
defined
in Federal Mogul deal
forms of corporate debt
in Marvel Entertainment Group deal
nature of
in Northwest Airlines deal
recognizing
regulation of bank balance sheets
in Tropicana deal
in Tweeter Home Entertainment Group, Inc. deal
in vulture investing
in Washington Group International (WGI) deal
waterfall effect and
Fundamental research and analysis
Gabelli, Mario
Geithner, Timothy
Gendell, Jeffrey
General Electric (GE) Capital Corporation
General Motors (GM)
Geneva Steel
Gittis, Howard
Global Crossing
Globalstar LP
Globalstar Telecommunications
capital structure
short sale
Goldman Sachs
Goodyear Tire
Grace (W.R.)
Grant of administrative claim status
Great American Group Inc.
Great Depression
Great Recession of 2008-2010
Greece
Greenlight Capital
“Haircuts,”
Harbinger Capital Partners LLC
Hedge funds. See also Vulture investing
hold-out
proposed tax increase
Hilco Trading
Hold-out hedge funds
Hoover Dam
Iacocca, Lee
Icahn, Carl
Icahn & Co.
Icahn Enterprises
Indiana Gaming Commission
Insider status
Interest-rate swap agreements
International Steel Group
International Swaps and Derivatives Association (ISDA)
Internet bubble crash (2000)
Intrieri, Vincent:
Dynegy Holdings bankruptcy
Tropicana Casinos bankruptcy
Investment committee
Iridium
capital structure
Irv Lerner’s
Johns, H. W.
Johns-Manville Asbestos Injury Trust
Johns-Manville Corporation
JPMorgan Chase
Junk bonds
Keystone Consolidated
King Street Capital Management
Kirkland & Ellis
Kirpalani, Susheel
Klarman, Seth
Kmart
Krause, Tim
Kurtzman Carson Consultants
LandCo (Tropicana LV)
Lazard Frères
Legal liabilities, as leverage
Lehman Brothers
Leverage. See also Fulcrum securities; Short sales
debtor-in-possession (DIP) loans
defined
junk bonds
legal liability as
loan-to-own provisions
securitized mortgages
syndicated bank loans
Levitz Furniture
Liability channeling injunction
Lifland, Burton R.
Liquidation analysis
Litigation trusts
Loan-to-own arrangements
sourcing deals
time frame for
Tweeter Home Entertainment Group, Inc.
Lock-up provisions
Lone Star Funds
Long/short trades
Loomis Sayles
Loral Space & Communications Inc.
LTV Steel
Lurvey, David
Lynch, Peter
MacAndrews & Forbes
Magnavox
Maidenform
Manville Corporation
Marking to market
Marvel Entertainment Group
acquisitions
bankruptcy protection
bond offerings
capital structure
cash flow analysis
corporate structure
discount notes
emergence from reorganization
financial history
net enterprise value
Perelman buyout plan (Andrews plan)
Marvel Holdings
Marvel III Holdings
Marvel Parent
Mayer, Brown & Platt
McGovern, Francis E.
M.D. Sass
Merrill Lynch
Metals USA
Metrocall
MF Global
Michigan, State of
Michigan Law Review
Milton, William
MobileMedia
Monopoly, value of
Moral hazard
Morgan Stanley
Morris, Nichols, Arsht & Tunnel LLP
Morrison Knudsen Corporation
Mortgages, securitized
Motorola
Mouillard, Louis-Pierre
National Steel
Negotiation strategy
Net enterprise value
Net operating loss carryforwards (NOLs)
advantages of
nature of
Washington Group International (WGI)
New Century Financial
New Jersey Casino Control Commission (NJCCC)
Northwest Airlines
capital structure
cash flow analysis
short sales
“No-shop” provision
Obama, Barack
Okeelanta Cogeneration Facility (Florida)
OpCo (Tropicana AC)
Oppenheimer
Original-issue lenders
conflict with equity investors
Marvel Entertainment Group
Tropicana Casinos and Resorts, Inc.
Overleverage
Owens Corning
Pacific Ethanol
PageNet
Panini
Pareto, Vilfredo
Pareto Principle
Par value
Passive trading positions
Patience
Paulson, Henry (Hank)
Paulson, John
Pension Benefit Guarantee Corporation (PBGC)
Perella Weinberg
Perelman, Ronald
Petit, Edward
Pinnacle Entertainment Inc.
Presidential Task Force on the Automotive Industry
Private-equity approach
Breed Technologies, Inc.
Tweeter Home Entertainment Group, Inc.
Werner Co.
Professional fees
Proposals, stockholder
Proxy fights
Purchase offers
Qualified settlement fund
Quinn Emanuel Urquhart & Sullivan, LLP
Railroad bankruptcies
Raytheon
Real estate:
real estate investment trust (REIT)
securitized mortgages
subprime borrowers
Refco
Republic Engineered Products
Republic Technologies
Repurchase of stock
Revlon
Richards, Layton & Finger
Robinson, Philip
Roe, Mark
Rogers, Jimmy
Royal Bank of Scotland
Rubin, Jim
Rule 2004 motions
“Run rate” revenues
Rutgers College
SALT Hedge Fund Conference (Las Vegas)
Sass (M.D.)
Say-on-pay shareholder proposals
Schuller International Group
Schultze Asset Management LLC:
investment methods and strategy
origins of
Second-lien loans
Securitized mortgages
Self-dealing
Sell-side analysts
Sell-side brokers
Settlement rules, CDS market
Sheetrock, Incorporated
Sheffield Steel
Short sales
Congoleum
Dynegy Holdings
Globalstar Telecommunications
long/short trades
nature of
Northwest Airlines
short squeeze
uncovered shorts
Short squeeze
Silo subsidiaries
Silver Point Capital
Skadden, Arps, Slate, Meagher & Flom
SkyBox International
Special dividends
Special-purpose vehicles (SPVs)
Spin-offs, debt financing for
Stairway Capital
Standby airline ticket coupons
State of Michigan
Steel industry
Stein, Gary S.
Stockholder proposals
Stock repurchase
Stohler, Gene
Stroock & Stroock & Lavan LLP
Structured credit funds
Subprime borrowers
Summers, Larry
Swaps:
credit default
interest-rate
subprime loans
Syndicated bank loans
Takings clause
Taxes. See also U.S. Internal Revenue Code
net operating loss carryforwards (NOLs)
proposed increases on hedge fund
TCW Group
Tepper, David
Third-lien loans
Third Point Management
Tiger Capital Group LLC
Tivoli Audio
Too-big-to-fail mentality
Total enterprise value (TEV):
defined
Federal Mogul
Tropicana Casinos and Resorts Inc.
Washington Group International (WGI)
Toy Biz Inc.
Trace Foam Company Inc.
Trace International
Trade claims
Trans World Airlines (TWA)
Trico Steel
Tropicana Atlantic City (AC)
Tropicana Casinos and Resorts Inc.
Ad Hoc Committee of Subordinated Noteholders
bankruptcy filing
capital structure
cash flow analysis
credit bid auction of Atlantic City casino
debtor-in-possession (DIP) loan
formation of
Indiana Gaming Commission review of Aztar license
LandCo (Tropicana LV)
litigation trust
NJCC denial of license renewal
OpCo (Tropicana AC)
OpCo Senior Secured Lenders’ Committee
original-issue lenders
professional fees
reorganization plan
Rule 2004 motions
Unsecured Creditors Committee
working capital needs
Tropicana Entertainment, LLC
Tropicana Las Vegas (LV)
Troubled Asset Relief Program (TARP)
Tweeter Home Entertainment Group, Inc.:
capital structure
cash flow analysis
ethics issues for CEO
liquidators
loan-to-own investment
private-equity approach
reorganization
tightening credit cycle
Tweeter Newco LLC
UBS Prime Brokerage
Uncovered short sales
Undertaking
United Airlines
United Auto Workers (UAW)
U.S. Bank Holding Company Act
U.S. Bankruptcy Code
Amendments of 2005
automatic stay provisions
Canadian equivalent
Chapter 11, 6 (see also Chapter 11 bankruptcy)
fairness provisions
Section 363
Section 366
Section 524(g)
Section 1129
U.S. Constitution, takings clause
U.S. Environmental Protection Agency
U.S. Internal Revenue Code:
asbestos trust as qualified settlement fund
net operating loss carryforwards
Section 382
Section 386
U.S. Justice Department
U.S. Securities and Exchange Commission (SEC)
Chapter 11 exemption from filing procedures
short sale regulation
United Steelworkers Union (UAW)
Unsecured creditor warrants
URS Corporation
US Air
USG Corporation
Valuation gap
Van Kampen Funds, Inc.
Volcker Rule
Voluntary employee beneficiary association (VEBA)
Vulture investing. See also Fulcrum securities
activist position
confidence in abilities
cutthroat world of
daily axe sheets in
daily “scorecard” in
fundamental company analysis in
goal of
investment philosophy
nature of work
passive trading positions
post-bankruptcy equity
sell-side brokers and
special information rights for vulture funds
styles of
training for
vultures (birds) compared with
Wak Get Rich Fund (WGRF)
W. R. Grace
Wak Get Rich Fund (WGRF)
Wall Street Journal Award for Excellence in Economics
Walter Industries
Warrants, unsecured creditor
Washington, Dennis
Washington Construction Group
Washington Group International (WGI)
capital structure
cash flow analysis
debtor-in-possession (DIP) loans
merger with URS Corporation
Raytheon engineering and construction (RE&C) acquisition
Washington Mutual
Waterfall effect
WCI Steel
Weirton Steel
Werner Co.
Wheeling-Pittsburgh Corp.
Wheeling-Pittsburgh Steel
Whitebox Advisors
Wimar Tahoe Corporation
Winkler, Robert
Winn-Dixie Stores, Inc.
cash flow analysis
conflicts of interest
post-reorganization strategy
reorganization plan
sale to Bi-Lo
Winn & Lovett
Wolf, Block, Schorr, & Solis-Cohen
Wood, John George
WorldCom
Yung, William