Showing posts from January, 2016

Statement By Dov Charney Regarding American Apparel Bankruptcy Ruling

LOS ANGELES, Jan. 25, 2016 /PRNewswire/ -- I am obviously disappointed by the judge's decision to confirm the debtors' reorganization plan and hand ownership of American Apparel to its bondholders. This outcome is one that I have been working tirelessly for nearly two years to avoid in an effort to protect value for the company's various stakeholders. Now all stockholders will have their shares and value extinguished. Many of the company's loyal vendors will recover only cents on the dollar of what the company owes them. And the company's workers, faced with current management's inability to generate profits, face a highly uncertain future. It is without question that the debtors, Standard General and the bondholders carefully orchestrated a strategy to pass the Company over to the bondholders without exposing it to fair market test or bidding. This outcome was the only logical and unfortunate conclusion of many months of pre-bankruptcy preparation on the part …

Khamenei calls for security cooperation with China, says U.S. not to be trusted

Khamenei calls for security cooperation with China, says U.S. not to be trusted

RTRS 23-JAN-2016 11:46:48 AM DUBAI, Jan 23 (Reuters) - Iran's Supreme Leader Ayatollah Ali Khamenei called on Saturday for closer economic and security ties with China, saying both countries could be reliable partners, especially in energy. "Iran is the most reliable country in the region for energy since its energy policies will never be affected by foreigners," Khamenei was quoted as saying by his official website at a meeting with Chinese President Xi Jinping. Khamenei said the United States was "not honest" in the fight against terrorism in the region, and asked for more cooperation between Iran and China.

American Apparel rejects takeover bid from Hagan - Silver Creek

American Apparel rejects takeover bid - source - RTRS
14-JAN-2016 11:59:16 PM  By Aurindom Mukherjee Jan 14 (Reuters) - Bankrupt teen apparel retailer American Apparel Inc's APPCQ.PK board has rejected the latest takeover offer involving the company's controversial founder, Dov Charney, a source told Reuters. Earlier this week, the Los Angeles-based company received a $300 million bid from a group of investors who are backing the return of Dov Charney.
Hagan Capital Group and Silver Creek Capital Partners said their proposal included $90 million of new equity and a $40 million term loan, and backs a business plan from Charney, who was fired as chief executive in December 2014. American Apparel is open to a revised offer from the funds, the source said. ( Bloomberg reported the news first on Thursday.

Chad Hagan from the Hagan Capital Group said they are confident that American Apparel will accept their "superior business model that centers on long…

LSE Essay - On Cost

Remarks upon certain aspects of the theory of costs
A lecture delivered before the Nationalökonomischen Gesellschaft, Vienna, 7 April 1933. First published in the Economic Journal (March 1934).

The theory of costs is not one of those parts of economic analysis which can properly be said to have been unduly neglected. It has always occupied a more or less central position, and in recent years it has been the subject of a quite formidable body of new work. There is, indeed, no part of his subject about which the contemporary economist may legitimately feel more gratified, either as regards the quality of the work which has been done or as regards the temper in which it has been undertaken. Yet, in spite of this, the present state of affairs in this field is not altogether satisfactory. The various problems involved have been tackled by different sets of people; and the conclusions which have been reached in one part of the field have sometimes a rather disquieting appear…

On Bloomberg TV - Hagan Capital Group

The investor backing Dov Charney's American Apparel bid tells @BettyWLiu why— Bloomberg TV (@BloombergTV) January 12, 2016

Investor Group Announces $300 Million Offer to Acquire American Apparel

(AP) — An investor group wants to buy American Apparel for about $300 million and bring back the clothing chain’s founder and former CEO Dov Charney. Charney was fired from American Apparel in 2014 following allegations that he had violated the company’s sexual harassment policy. Charney denied those charges. The investors, Hagan Capital Group and Silver Creek Capital Partners, said Monday that they have submitted a bid. American Apparel said in a statement Monday that it evaluates all bids and that it is focusing on emerging from bankruptcy protection. The Los Angeles company filed for Chapter 11 bankruptcy protection in October. Most Read Stories Seahawks Game Center promoSeahawks Game Center: Complete postgame playoff coverage after Seattle Seahawks edge Minnesota Vikings in wild-card showdown nullListen: Two very different radio calls of Vikings kicker Blair Walsh's missed field goal against Seahawks (Rich Boudet / The Seattle Times)The sports world reacts to Seahawks' wil…