Monthly Archives: February 2017

Market Update: Risk-Off Stocks Back in the Lead

The stock market has advanced steadily through most of February. Many market commentators are calling it a melt-up because average daily price moves have been less than 1%. (In fact, the S&P 500 has not moved more than one percent … Continue reading

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UPS Investor Day: Invest. Grow. Deliver.

UPS held an investor day in New York City on February 22, three weeks after reporting disappointing fourth quarter results.  Its stock fell sharply on the earnings news, giving back all of its Trump rally gains.  So far this year, … Continue reading

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2016 Mass Investor Conference (Part 3): the MWRA

The Massachusetts Water Resources Authority (MWRA) was created by the Massachusetts Water Resources Authority Act, Chapter 372 of the Acts of 1984 of the Commonwealth of Massachusetts.  Its operating territory covers 61 communities (i.e. cities, towns and special purpose entities) … Continue reading

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2016 Mass Investor Conference (Part 2): the MBTA

The Massachusetts Bay Transportation Authority (MBTA or the Authority) is a body politic and corporate and a political subdivision of the Commonwealth of Massachusetts.  It is also a component of the Massachusetts Department of Transportation.  Created in 1964, it is … Continue reading

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Peabody Puts Its Bankruptcy Plan to a Vote (Part 3)

Other Thoughts on the Plan.  In a bankruptcy, a debtor-in-possession serves as a fiduciary for the creditors and interests.  The court oversees the case to ensure that the debtor fulfills its obligations.  Yet, both the debtor and the court cannot … Continue reading

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Peabody Puts Its Bankruptcy Plan to a Vote (Part 2)

Under Peabody’s bankruptcy plan a simplified summary of the classes, amount and treatment of claims and interests is given in the table below:

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Peabody Puts Its Bankruptcy Plan to a Vote (Part 1)

On January 27, 2017, the bankruptcy court approved Peabody’s bankruptcy plan and disclosure statement.  By now, these documents have been distributed to creditors who are eligible to vote on the plan.  The voting deadline is March 3.  Objections to the … Continue reading

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