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It is not clear where all the money will be found to recapitalise the banks, much less to fund the companies set up to auction off the assets of closed institutions.
QUANTUM CORP., Milpitas, Calif., a maker of computer memory storage products, agreed to spin off the assets related to its Network Attached Storage business to a newly formed company, to be called Snap Appliance Inc, for $11.3 million and a minority interest.
THE BIG MEGILLAH For the last few weeks, a growing chorus of voices has called for the establishment of a new Resolution Trust Corporation, the entity the government devised in the wake of the savings and loan crisis to take over, and eventually sell off, the assets of failed S.& L.'s.
Marty Pichinson and the firm he co-founded, Sherwood Partners, specialize in selling off the assets of startups when they fail, as well as helping them extend their runway, so that if they have to close down, they do it the right way.
For the last 25 years, Marty Pichinson and the firm he co-founded, Sherwood Partners, have specialized in selling off the assets of startups when they fail, as well as helping them extend their runway so that if they have to close down, they can do it the right way — in slow motion, versus at high speed.
Selig hoped to turn the property into a massive amusement center, but the plans never came to fruition, and in 1923, Selig auctioned off the assets of the studio.
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"They could sell off all of the assets, pay off the debt and still have enough left over to pay off the shareholders well in excess of where the equity is trading right now".
One reason was the sell-off: the assets shed would have boosted profits by an annual $5 billion.
Using what she admitted was a stereotypical example, she said, the trust could prevent a second wife from "running off with the assets" of a deceased husband.
Rather than sell off all the assets, they will auction some of them, and use those prices to set a value for the rest.
Of course, his real intention is to asset-strip the company – sell off the valuable assets and close it down – rather than develop it.
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