With Peabody Energy, America's biggest coal producer filling for Chapter 11 bankruptcy, Tyler Crowe and Taylor Muckerman take a look at some of the creative ways companies try to defuse the bomb of a market reaction that will go off when news of their bankruptcy breaks.
A full transcript follows the video.
This podcast was recorded on April 14, 2016.
Tyler Crowe: And just, on a small aside from the talk of Patriots' bankruptcy, one of the great things, when it comes to financial media, or businesses in general, is, companies like to slide bad news in under the radar as much as they can.
Taylor Muckerman: The old Friday at 5 o'clock press release.
Crowe: Yeah. So, a great one, another bankruptcy actually hit this week, a company by the name of Energy XXI (NASDAQ: EXXI), they're a specialty in offshore oil and gas exploration. They were a big acquisition company. Right on the heels of Peabody Energy's bankruptcy, which is going to generate a ton of media, they slip a little, "Oh, we're going into Chapter 11, too."
Muckerman: Another debt-laden acquisition bankruptcy.
Crowe: Golf clap for them for finding a nice, quiet time to go bankrupt.