Encouraging News (Was Sad news)

[DrFranken <midrange@xxxxxxxxxxxx>]

Joe,

  It's quite tiring to constantly hear 'the bad'. I wish you had picked 
up on the 'While they have filed for Chapter 11 re-organization their 
agreement means they will continue to serve the IBM i community.' Thanks 
to DR2 for pointing out the positive!

  I for one am glad that the first news I heard was of a Successful 
agreement to keep them in business and not rumors or rumors of rumors 
that they were 'going away.'

  - Larry
> Ah, the lovely world of financial dealings.  I don't know what you mean
> by "well into coming out of it" but as far as I've read they filed last
> week (Tuesday?) a pre-packaged plan to reorganize about a quarter of
> their debt and they expect to be done with the process in 45-60 days.
> It's a prepackaged bankruptcy which means everything is a done deal, and
> they already know who is going to get what.  In fact, I got a letter
> saying that if I attempted to collect any debts owed me I might be
> penalized.  Vaguely authoritarian legal stuff, but pre-packs are all the
> rage now.
>
> Joe
>
>    
> > Joe,
> >
> > It's a chapter 11 filing as I understand and it looks like they're well into
> > coming out of it.
> >
> > http://www.foliomag.com/2010/penton-media-file-chapter-11-bankruptcy
> >
> > DR2
> >
> > -----Original Message-----
> > Subject: Sad news
> >
> > Penton Media filed bankruptcy.
> >
> > I'm not sure what exactly this entails for the publications but it's a
> > sad sign of the times, the economy and our industry.
> >
> > They've always been one of the premier teams of i talent and I wish them
> > the best.
> >
> > Joe
> >
> >      
>