It is not quite accurate to say that Art Capital can "claim" owwnership to any of its collateral today. To do so, they would have to foreclose, which is a state-court process, on those liens (or Liebowitz could consenually trade the collateral for forgiveness of the liens, which I am assuming is not what is going on). Such foreclosure would likely trigger a bankruptcy since Liebowitz (or her other creditors) would seek its protections.
What is likely occuring now is that both parties are in negotiations, Art Capital has sent a "reservation of rights" letter but has not called its loan and is negotiating, and both parties are using the threat of bankruptcy as leverage. While it is true that a judge could screw with their liens, it is also true that in no world does she get anything until her creditors are paid off, without those creditors' consent. So it is a double edged sword.
If you can only have one weapon, the shotgun is the best. Buckshot is devastating at close quarters and rifled slugs are effective out to 100 meters. At close range with rifled slugs I don't care what kind of body armor you're wearing, you're going down for the count.
How is j-school astronomically expensive compared to, uh, any other degree track? I went to j-school (at a large public university). I'm pretty sure my tuition was the exact same amount as my friends in econ or whatever.
By his ROI-centric rationale, every single college student should major in business or IT/computer science.
@Botswana Meat Commission FC: The real story is on Richard Sine's page which Salmon links to. He's saying: Don't waste money on a program for a dying/changing industry where you learn everything on the job anyway.
Yes, IT, that worked out real well for my nephew. No job offers at all, since he wasn't imported from India. He went back to school and got an engineering degree and is doing nicely.But, I too am guilty of going the J-school route.
09/09/09
09/09/09
What is likely occuring now is that both parties are in negotiations, Art Capital has sent a "reservation of rights" letter but has not called its loan and is negotiating, and both parties are using the threat of bankruptcy as leverage. While it is true that a judge could screw with their liens, it is also true that in no world does she get anything until her creditors are paid off, without those creditors' consent. So it is a double edged sword.
09/09/09
09/09/09
08/18/09
08/18/09
08/18/09
Lindsay is The Best!
08/18/09
Oh and Jenny 8 Lee, c’mon you do stories on food and event HOT dogs and this is news to you?
08/18/09
08/18/09
08/18/09
08/19/09
07/17/09
By his ROI-centric rationale, every single college student should major in business or IT/computer science.
07/17/09
Eh, what do I know--I went to J-school as well.
07/17/09
07/17/09
FC: Pareene's got it right again.
07/17/09
Yes, IT, that worked out real well for my nephew. No job offers at all, since he wasn't imported from India. He went back to school and got an engineering degree and is doing nicely.But, I too am guilty of going the J-school route.
03/12/09
03/12/09
03/12/09
03/12/09
03/12/09
03/12/09