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#	AUTHOR DATE SUBJECT
13	member 6/08/13 6:22PM RE: RE: RE: RE: Gleacher - liquidation? 11
It has been suggested to me that Matlin Patterson might try to do something between Flagstar and Gleacher. It seems unlikey but anything is possible. view available tags
11	member 6/08/13 11:43AM RE: RE: RE: Gleacher - liquidation? 10
ele2996, creditguy, pcm983, Sadly, we hadn't appreciated the depth of MP's need to liquidate their position in GLCH. We had figured that they would at least have allowed the advisory business to live on, as was... login to read the rest view available tags
10	member 6/08/13 10:26AM RE: RE: Gleacher - liquidation? 9
what's left to the business now? who's going to turn out the lights? what do you estimate cash to be at this point and how much time is left before the ice cube is melted? view available tags
9	member 6/07/13 6:51PM RE: Gleacher - liquidation? 8
There is cash and an NOL. I believe that Matlin Patterson will try to do something with the NOL. I believe that they will run through the rest of the capital in doing so. view available tags
8	member 6/07/13 6:41PM Gleacher - liquidation?
I saw the news about them firing the remaining ibankers and hiring a restructuring advisor. Is this essentially a liquidation at this point. Stocks at $14 after the reverse 1:20 split (or .70 cents a share before... login to read the rest view available tags
7	member 4/16/13 11:16AM RE: 3rd possible scenario? 6
Aubrey and Otto695- Thanks for the input and the mention of the severance payments. Regarding liquidation, we see no reason why liquidation would be in the cards for GLCH. The advisory business has no capital requirements and... login to read the rest view available tags
6	member 4/15/13 10:27AM 3rd possible scenario? 4
Is there a 3rd scenario in which they do not find a buyer for the advsiroy business and instead liquidate/shut down and decide to pay huge "severance" bonuses to employees/management (even beyond the $10m cited view available tags
5	member 4/15/13 8:52AM Other liquidation costs 4
I saw that there is a $10m severance payment to senior executives on liquidation. Also $20m of the TBV is in a VC technology fund which you may want to take a haircut on. Finally,... login to read the rest view available tags
4	member 4/14/13 10:21PM RE: RE: RE: Exits Fixed-Income, in Merger Talks 3
Otto695- To get back to you, it looks like they are shutting down all trading operations (i.e. the Credit and Rates businesses), which will affect 160 employees. They also announced that it would cost them $20 million... login to read the rest view available tags
2	member 4/10/13 2:24PM RE: Exits Fixed-Income, in Merger Talks 1
does the exiting of the fixed income piece change the equation on what value is left to be acquired? view available tags

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			2014	2015
Price:	8.52	EPS	$0.82	$1.20
Shares Out. (in M):	103	P/E	10.3x	7.1x
Market Cap (in $M):	883	P/FCF	10.6x	7.3x
Net Debt (in $M):	304	EBIT	96	111
TEV (in $M):	1,187	TEV/EBIT	12.4x	10.7x

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