[Zakeet]

This is a pre-packaged bankruptcy filing ... meaning that it has been in the works for some time and Lee has reached some type of agreement with the majority of its creditors.

That doesn't mean they will dig out quickly or without some difficulty, but the odds are greater that they will survive in some form or fashion than if they filed cold.

But in any case, in fairness to Joe Pulitzer, it is admittedly getting increasingly more difficult for newsers to rake a muck ... particularly if you put a number of sacred cows such as Democraps, Hollyweird, and Libtards in general off limits.

[abb]

There’s all sorts of news that goes unreported by the “real” media. Every day I beat the stuffing out of them here in North Louisiana all by myself with my little newsblog.

[ken5050]

Creditors are more than willing to go along with this for two reasons:

1. If they pushed to liquidate, there is NO value for the properties, and thenthey take the hit.

2. By restructuring..i.e rolling over the debt, to extend the maturities and get a higher rate of interst, the creditors avoid having to write down the debt on their books..unless their auditors force them.

It doesn't make a difference...it just extends the death watch for a few more years.