{"id":15800,"date":"2015-03-30T14:46:37","date_gmt":"2015-03-30T22:46:37","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15800"},"modified":"2015-03-30T14:51:02","modified_gmt":"2015-03-30T22:51:02","slug":"quote-of-the-day-621","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/quote-of-the-day-621\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<p>\u201cThere is a reason bondholders restricted the funds that could be paid out to owners. <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/06\/boulderstation-pic.gif\"><img loading=\"lazy\" class=\"alignright size-full wp-image-6889\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/06\/boulderstation-pic.gif\" alt=\"boulderstation-pic\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/06\/boulderstation-pic.gif 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/06\/boulderstation-pic-150x98.gif 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>Bondholders lost almost everything in <strong>Station Casinos<\/strong>\u2019 Chapter 11 bankruptcy reorganization, which followed a leveraged buyout that paid insiders $660 million with borrowed money &#8230;\u00a0Even though <strong>Deutsche Bank<\/strong> and the other owners are \u2018happy with the performance\u2019 of Station Casinos, as the company described it recently, they shouldn\u2019t pay themselves a special dividend by levering up the company and putting virtually all the risk on the unsecured creditors,\u201d &#8212; <em><strong>Culinary Union<\/strong> Research Director <strong>Ken Liu<\/strong>, on a proposal by Station to borrow $300 million in order to pay dividends to ownership, a bit of crony capitalism that&#8217;s flown under the media radar<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThere is a reason bondholders restricted the funds that could be paid out to owners. Bondholders lost almost everything in Station Casinos\u2019 Chapter 11 bankruptcy reorganization, which followed a leveraged buyout that paid insiders $660 million with borrowed money &#8230;\u00a0Even &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/quote-of-the-day-621\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[57,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15800"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=15800"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15800\/revisions"}],"predecessor-version":[{"id":15802,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15800\/revisions\/15802"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}