sh2v+@ANDREW.CMU.EDU (Stephen Hathorne) (11/30/89)
C
About two weeks ago, I posted to this bboard asking for information regarding
an anchor modem power supply.
I mentioned that Anchor was out of business. I have no real verification
that this is an actual fact. I called the telephone number in the manual that
came with the modem, and reached a construction site. The foreperson indicated
that "Anchor is out of business, this is a construction site." I have no way
of verifying that this is actually the case. I did not call directory
assistance
and get a different telephone number, I just accepted that this was the case.
I have gotten a lot of responses to this post, and received the information
3 times within the first day of posting. Thank you to all have responded, I
hope that this post will clear up any confusion.
stephen hathorne
sh2v@andrew.cmu.eduellisond@phobos.UUCP (Dell Ellison) (12/12/89)
In article <cZRH5aq00WBL00tF1M@andrew.cmu.edu>, sh2v+@ANDREW.CMU.EDU (Stephen Hathorne) writes: > I mentioned that Anchor was out of business. I have no real verification > that this is an actual fact. I called the telephone number in the manual that > came with the modem, and reached a construction site. The foreperson indicated > that "Anchor is out of business, this is a construction site." I have no way > of verifying that this is actually the case. I did not call directory assistance I called the number in the Manual (possibly a more recently printed manual) and talked to an Anchor representative. She said that, No, they were not bankrupt and they were definitely doing business. I did however, get out of her that they 'are reorganizing under Chapter 11'. I do understand that this isn't as bad as Chapter 13, but what is it EXACTLY?? I would really appreciate any further enlightenment on this matter. Thank you, Dell Ellison gtephx!ellisond
henry@utzoo.uucp (Henry Spencer) (12/13/89)
In article <475d5401.f69e@phobos.UUCP> ellisond@phobos.UUCP (Dell Ellison) writes: >> I mentioned that Anchor was out of business... > >...talked to an Anchor representative. >She said that, No, they were not bankrupt and they were definitely doing >business. I did however, get out of her that they 'are reorganizing under >Chapter 11'. >I do understand that this isn't as bad as Chapter 13, but what is it EXACTLY?? Chapter 11 is a curious form of almost-bankruptcy. The idea is that many companies which go bankrupt could recover, given competent management and a stay of execution. Chapter 11 puts the company under the control of a court, whose job is to make such changes as seem appropriate to get the company going again -- at least well enough so that it can pay off its creditors. The creditors themselves have to be patient while this is being done. Some companies recover well enough to pay off their debts and emerge from Chapter 11 status. Some don't. -- 1755 EST, Dec 14, 1972: human | Henry Spencer at U of Toronto Zoology exploration of space terminates| uunet!attcan!utzoo!henry henry@zoo.toronto.edu
jeff@b11.ingr.com (Jeff Kilpatrick) (12/15/89)
In article <475d5401.f69e@phobos.UUCP>, ellisond@phobos.UUCP (Dell Ellison) writes: > > She said that, No, they were not bankrupt and they were definitely doing business. > I did however, get out of her that they 'are reorganizing under Chapter 11'. > > I do understand that this isn't as bad as Chapter 13, but what is it EXACTLY?? Chapter 11 is protection from creditors, to give a company time to reorganize. Chapter 13 is closing down(?).