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Author Topic: Holy Underpants.... PRG buys VER..  (Read 2590 times)

brian maddox

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Re: Holy Underpants.... PRG buys VER..
« Reply #1 on: April 05, 2018, 08:01:53 pm »

https://www.cnbc.com/2018/04/05/pr-newswire-ver-announces-agreement-to-merge-with-production-resource-group-llc.html

Thats a lotta debt!

Slap LLC on the end of the business name.  Carry on as usual.  it's been known to happen in this business.
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Tim McCulloch

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Re: Holy Underpants.... PRG buys VER..
« Reply #2 on: April 06, 2018, 01:12:12 am »

VER expanded too fast on borrowed money.  Chapter 11 with PRG as the "white knight".
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Jordan Wolf

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Re: Holy Underpants.... PRG buys VER..
« Reply #3 on: April 06, 2018, 12:37:29 pm »

VER expanded too fast on borrowed money.  Chapter 11 with PRG as the "white knight".
Yup.

Its gonna be interesting to see what direction they decide to go in/stay with.
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Jordan Wolf
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David Allred

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Re: Holy Underpants.... PRG buys VER..
« Reply #4 on: April 06, 2018, 02:09:56 pm »

"By uniting, PRG and VER will meet evolving client needs and offer solutions, resources and expertise in ways neither company could achieve independently. Clients will have access to an extraordinary array of equipment and services, and the most talented team in the industry."

And suddenly the "news report" turned into a "press release" / ad.

Edit:
Oops.  I just saw "Press Releases" at the top of the page.  My bad. 
« Last Edit: April 06, 2018, 02:15:32 pm by David Allred »
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Tim McCulloch

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Re: Holy Underpants.... PRG buys VER..
« Reply #5 on: April 06, 2018, 02:46:34 pm »

"By uniting, PRG and VER will meet evolving client needs and offer solutions, resources and expertise in ways neither company could achieve independently. Clients will have access to an extraordinary array of equipment and services, and the most talented team in the industry."

And suddenly the "news report" turned into a "press release" / ad.

Edit:
Oops.  I just saw "Press Releases" at the top of the page.  My bad.

{satire}

"By uniting, PRG will acquire the assets, debts and customers of VER.  VER borrowed too much cheap money against an *anticipated* book of business and can't meet its debt service.  PRG is happy to be the next holder in due course for the assets of the ill-advised."

{/satire}
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"Practicing an art, no matter how well or badly, is a way to make your soul grow, for heaven's sake. Sing in the shower. Dance to the radio. Tell stories. Write a poem to a friend, even a lousy poem. Do it as well as you possible can. You will get an enormous reward. You will have created something."  - Kurt Vonnegut

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Re: Holy Underpants.... PRG buys VER..
« Reply #5 on: April 06, 2018, 02:46:34 pm »


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