Bankruptcy of Energy Futures Holding Imminent? Sep 12 2013Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 
Who is going to pay for this? Probably US

Bankruptcy of Energy Futures Holding Imminent? Sep 12 2013
 


12 September 2013 at 7:34:44 PM
salon

from the Houston Chronicle  -As this article points out, first it will be Texas Competitive Electric Holdings, which is TXU and Luminant and then, after it goes under, EFH.

The staggering debt is a legacy of a massive $45 billion leveraged buyout in 2007 — one of the largest in history — by Kohlberg Kravis Roberts & Co., TPG Capital and Goldman Sachs Capital Partners.

Energy Future Holdings and its subsidiaries currently have more than $40 billion in debt. Of that, subsidiary company Texas Competitive Electric Holdings owes $30 billion and has a value of about $15 billion.

Will this be a larger bankrupcty than Worldcom?

The leverage buyout was negotiated on the belief that natural gas prices would stay high - a forecast that has since proven false.

“The ability to service that debt included an assumption that gas prices would go no lower than $6 per million cubic feet,” Hempstead said. “The other assumption was that if natural gas prices did fall, they were volatile and would not stay low for a long period of time.”

 

 

Permalink Tags:          
     Views: 1398 
Latest Blog Post by salon -Video re: Danny Chambers Drag Racing Around the Square In Youth (Glen Rose)
More Posts You Might Enjoy
8/23/2019- Judgement Against The State of Texas and George Darrell Best
Audio-City of Glen Rose Town Council Meeting April 8 2019
Video- Somervell County Commissioners Court May 13 2019
Audio-Somervell County Commissioners Court-April 2019

 You! Leave a Comment! You Know you Want To!
You must be a registered member to comment on the blog.
Your first post is held pending approval to make sure you're not a spammer bot

 Not registered? Or you can login!

LOGON - Name:Password:

New poster comments are moderated, meaning they won't show up until approved... or not.  Be patient-we have lives outside this blog, so it might take awhile You want to be rude? totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your post may be deleted. Spammers or people posting pretend interest comments but really wanting to hawk their latest book or sell stuff or govt propaganda flacks won't see their posts published. Comments do not necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up right away. Love your comments. Oh, except spammers
More on commenting



     

Click Here for Main Page



Guest
Today Is  
Friday, December 13, 2019






Latest Posts

Video re: Danny Chambers Drag Racing Around the Square In Youth (Glen Rose)
salon 12/11/2019 Views 62

Video-Somervell County Commissioners Court Dec 9 2019 Regular Meeting- FULL
salon 12/10/2019 Views 58

Video-Somervell County Commissioners Court Dec 9 2019 Special Session
salon 12/10/2019 Views 57

When Somervell County Commissioners Court Spent YOUR Tax Dollar Money to Pay State of Texas ex rel Best v Harper -July 11 2016
salon 12/10/2019 Views 86

Calling out Somervell County Judge Danny Chambers Hypocrisy AGAIN-RESPONSIBILITY of Commissioners Court
salon 12/8/2019 Views 108

What Was Going on HERE? At Somervell County Commissioners Court August 26, 2016
salon 12/7/2019 Views 280


More Blog Headlines
 



Comments

salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )








Home | Blog Home | About | News | Piazza | Calendar | Audio/Video/Open Rec | Search
Write!  |profile | quotes |
top Daily | top Weekly |top Month | top Year | Top All! | archives | subscribe RSS