Member Info for ElvisRocks

.. only read if you have >1 brain cell .. this rating summary from Fitch summarises the situation nicely, asks about debt, CFCs and profit, I.e what matters

https://www.fitchratings.com/research/corporate-finance/fitch-downgrades-ocado-to-b-outlook-stable-14-05-2024

.. on that we agree Big Jock, but why would Kroger now spend hundreds of billions in capital costs now if they can simply put pressure on the store worker to fill up on line orders and get them to the customer within 2 hours

.. or now like Whoosh do at Tesco get ur delivery to you within 30 minutes for a £3.95

Big Swinging Dick gets his way and is made to small like a fresh rose in front of his board director mates who recruited him .. the ching ching ra ra of that champagne glass as he pulls it out of his bottom trouser leg and banks his “cost optimisation” bonus ..

I would agree, it’s old hat being recycled .. some jerks got hold of the “hard look” comment, then the anal .. lyst community also got hold of it on Friday and it went t..s up from there.

It’s news that has been known about for ages

Ocado drew down what they were contractually owed and both parties no doubt in terms of the contract can walk away from each other .. problem for Ocado is if had to find new US partners if exclusivity ends ..

Meanwhile Big Swinging Dick will be trying to make a name for himself, cut costs and capital and serve 98% of whatever the figure is within 2 hours of filling the order in store ..

Hello Big Jock

The wonders of Google AI which I think is a fantastic tool better than chat gpt

Put the words “David Kennerly Ocado” into Google AI, (he is the new Kroger CGI) his mind is made up what he wants to do and is going to do, returns some fascinating articles.

His c..ck is already on the chopping block on this one, he’s committed himself and his magical “strategic review” already .. Ocado pulling out the £152m money they were owed entitles Kroger to now do what they want without penalty it would seem, in other words stick 2 fingers up at Ocado

Hey all, I’ve been reading these posts over the last few days with interest have a look at the transcript of the FIRST Kruger earnings call back in June … it was all well known about then and Ocado choose to pull the money they were owed realising no doubt future CFCs with Kroger were going no where

There is also a new BIG SWINGING DICK as Kruger CFO a Mr David Kennelly who is on a multi million $ bonus to bring costs and capital investment down the so called “hard look”, Ocado will have known the relationship with Kroger was going nowhere and pulled back themselves a few months back

Can pick up 2 references to Ocado in this article about half way down then two thirds way down

https://uk.investing.com/news/transcripts/earnings-call-transcript-kroger-q1-2025-earnings-beat-expectations-93CH-4140606

@wolff “debtors over promising or being over optimistic isn’t breaking the law”

So the Barclays directors didn’t mislead with their Qatari money that landed them in the criminal courts with the SFO during the Financial Crisis?

And the Cine directors didn’t lie when they “knowingly knew” this would end in C11 or didn’t lie when the Cineplex judge in Canada found them guilty for telling porky pies?

I’ll be PMSL even in a few days time when Cine is eventually suspended and delisted from the stock exchange, people on this board will still not believe the reality and will be thinking up an angle

… expect it - delisting to happen as early as Thursday at 8am if the judge approves everything tomorrow…

Yet still some will be holding their shares overnight claiming to be LTH and believing a miracle will still descend from above.

@Retail … the biggest tool in town, and on this board, expecting arbitration when 99.2% of creditors have agreed to support the plan … T-O-O-L!

I’ll do the honours for you here Poor … you can replace the word “may” with two words “definitely will” be suspended soon, there aren’t even any miniscule options left …

… Poor .. are u taking the p.. s and so thick based on what was leaked to the media last week and the judge now ruled against the last options shareholders had

https://news.sky.com/story/london-listed-cineworld-prepares-to-file-for-administration-12901776

.. still come back to do Mooky and Co “knowingly know” way back then (more to follow) and we could all wake up any morning in the next few days and find Cine suspended (the latest date will be Thursday 29 June, next week today), day after final court hearing

.. nope Retail, I am not invested, never have been for last 2 months, have no agenda and no buy in intentions.

I was actually sincere in what I said and merely reflecting what will happen as a matter of fact in the next few days, the share will be suspended, there is now no hope of the judge saving us, he said so yesterday when he rejected the motion to reconsider formation of a equity shareholder committee

What I am/was posting for this shareholder is how sad this is, I lost too, and what the directors “knowingly knew” way back then, something the writer of this letter also seems to allude to in his letter.

So no agenda, just sad, so you can back down from your high horse.

Really sad to read letters like this, the latest one to hit the Kroll Site, all too little too late and the shares must imminently due to be suspended…

Whilst I still hold the view of what did the directors “knowingly know” way back then, @wolff, I let you take over sharing your thoughts (meant sincerely) …

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQzMjQ0Nw==&id2=-1

Don’t dispute is complex litigation, it’s a bit of a philosophical point that the sort of fees the Magic Circle and US major law firms charge, like Davis Polk, just maybe, just maybe that has a home to the mega corporate - Shell, Glencore, Astra Zeneca, Meta, Amazon who bleed profits but for the tier below it just seems out of context

These law firms now seem to be a level above what the B4 charge, firms like Alvarez and Marsal, probably above some of the investment banks now

If you know your Shakespeare Wolff (Hamlet) …”there is something rotten in the state of Denmark” … and it stinks …

If only you could tell that to the greasy lawyers Wolff, looking at the latest slaughter and May, Kirkland and Ellis bills, they charge $20k just to make sure the bills add up, and have probably swapped team members at the latter stages so newbies “charge more time to get upto speed” and “senior staff spend more time supervising them”

The amount of gravy time that must have been spent emailing X who sits opposite me and team call discussing Y must now be in the tens of millions of wasted dollars

… maybe the judge should have taken an axe to those fees and let the fixed fee valuers fees through that he has just denied

@£300k Wolff, that’s 0.03% of weekly fees and interest which are $10m per week, based on 24/7 over 7 days, that’s 168 hours or 5 hours equivalent of current restructuring overhead that is being incurred.

Don’t these greasy lawyers charge something like that for a days work, so seems a bit harsh to dismiss it doesn’t it?

… talking of pots (or rather pint glasses) to p…s in Wolff, which part of the world / city do u live in, u have a good local with lots of the amber nectar …?

Oh well, that is the end of that, and with great sorrow to patience and all the others involved, Motion to reconsider denied, just in

Expect the share price to head to zero tomorrow and/or share suspension

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQzMTc5Mg==&id2=-1

@Hexam, and adjust the discount rate, PJT used 14%, the outside group 9%, the difference, back upto 14% and adjusting back to present value is apparently a difference of billions (got that from one of the court dockets last week).

14% did seem high but then I guess they have sense tested that … or was it a sly slip of the hand to get everyone to agree. Even bringing in Harvard academics and the best of Canary Wharf or Wall Street would probably give a range of answers.

@shave, this docket at Para 14 is what I understand it to be, I haven’t followed any closer than this ..

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQzMTQ0OQ==&id2=-1