California Resources Corporation (CRC) skipped an interest payment last month and seems headed towards a Chapter 11 filing. In the meantime, the company made one interest payment late and then successfully bought a few more weeks of additional time by negotiating a forbearance agreement with its lenders. June 30th is now its next big deadline, but it seems… Read More »
We’ve been remiss before, and now we’ve been … reremiss? A Google index update left us somewhat disheartened, life intervened and our unplanned hiatus dragged on for months. Our once proud site became a Haunted Mansion as spinoffs spun and reverse morrises trusted. Our tenth anniversary came and went unremarked(find our unimpressive first post here) as in a… Read More »
It’s been quite the ride for Marathon Petroleum’s (MPC) planned spinoff of its convenience store business, Speedway. The idea was studied as part of a strategic review in 2017, but ultimately the board determined it wasn’t in the company’s best interests at the time. That decision was surprising given Elliott Management‘s involvement and initial support for the idea.… Read More »