Just be glad that your paycheck will be direct deposited on time. We are also paying vendors as qiuckly as we can.
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"Just be glad that your paycheck will be direct deposited"?
Be glad? Really? Be glad that MDR is meeting its absolute minimum legal obligation to me? After all, everything else here is complete sh– and I would imagine it couldn't get any worse, but yeah, I guess I am glad I don't have to ask the Workforce Commission to claw back executive bonuses so I can pay my mortgage. Thank you, DD! Thanks, Stew-pid! Your Christ-like acts of charity fill me with the Holy Spirit!
But is that how bad it is? We need to pledge assets and borrow short term to meet payroll? Why are we paying that contractor on his $5mio payable? F— HIM! PAY ME!
We can't be selling treasuries ourselves directly into the market. So how much the f— are we paying a financial intermediary to do that?
McDamn-It!
So they are pledging assets to borrow enough money to cover a fraction of executive bonuses? Again, I declare BRAVO!
$3.5M McDermott ways
No. Wrong. You have no idea what the repo market is or how it works.
The company definitely has a short term cash crunch. But they have a long term cash drought. Sell everything that can be sold, collect everything that can be collected, the company will still not have enough money.
Then there are the losses and the anorexic balance sheet. What happened to all those untapped lines of credit? Did the banks pull them because of the leverage ratio?
They need another equity investment or a lump sum payment on a big project. But who, how, for how long?
And while we're at it, why did the PIPE get funded a year ago? What was behind that flush?