dammit. fucking windows 98!
this post was submitted on 11 Dec 2024
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Now that's some serious bullshit...
God fucking dammit
deep down i had a feeling it was too good to be true
A rival bidder associated with Jones, First United American Cos., offered $3.5 million in cash, or twice as much cash as The Onion’s parent company. First United American is a limited liability company affiliated with Jones’ dietary supplements business, and its bid had Jones’ blessing.
How the fuck can that company possibly win a bid when it ought to be getting auctioned off to pay the Sandy Hook families too‽
They are business partners with Jones, they aren't actually owned by Jones.
Yeah, I really buy that. About as much as him saying he had nothing to do with AEJ holdings, or had no stake in the companies that his parents owned with him.
If he's not got a direct financial stake in this, he's got an under the table one. No one affiliated with Jones should be able to buy InfoWars.
So Alex Jones is transferring Infowars to his pals so he can continue running the show under them?
He is trying to. I don't think he will succeed.
Please explain why you don't think he will succeed. This seems like exactly what the fascists would do.
The Sandy Hook plaintiffs are owed $975 million. They are supporting the Onion's bid by pledging as much of that as necessary to beat the opposing bid (remember, they have rights to most of the auction proceeds).
An analogy: you put something on eBay, and then decide you want to keep the item for yourself. You can easily outbid anyone else, because in the end you are (mostly) paying yourself. The only question is how much eBay's tiny cut will be.
Well, Sandy Hook plaintiffs are basically putting Infowars on eBay but determined to win the auction. The winner of the auction is a foregone conclusion, so the only question is what small cut some other folks are going to get.
Pretty sure this is the first step to that succeeding, so I wouldn't be so sure.
This is the first step to failing twice.
FUAC might get another chance to bid, but so will the Onion. And the Onion will outbid FUAC, because they have up to $965 million available if necessary.
The Onion is buying it to kill it. They won't want to recklessly spend a good chunk of their valued worth just to cut off the head of a hydra. Even if it's better for the family's true intentions of silencing Jones.
Not kill it, but invert the messages it sends.
The Sandy Hook families have agreed to reduce the amount they are owed in the settlement in order to make up the difference between The Onion and the highest bidder. This allows other creditors to end up getting paid more despite The Onion's bid being less because the families are taking less of a cut.
So it's not The Onion paying more money, it's the families taking less, and the families aren't doing this for the money.
Nobody wants to spend much money on it. That's why the Onion will win the auction, they can use $965 million of Alex Jones's own debt, courtesy the Sandy Hook families, to pay for it.
Honestly this is straight out of the Infowars playbook. AJ has been fleecing racist morons with his pals for decades.
Sounds like a bullshit asset-hiding scam to me.
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Imma be honest, between this and the CEO killing we've only really had two pieces of good news all fucking year and the same dipshits ruining everything are ruining this too. This plus being nonstop sick since August with several colds is really making 2024 the shittiest year (so far).
Can someone at least give us a piece of good news before the end of the year? Maybe something that tops both?
Not holding my breath until all appeals get denied
Yup. All Rupert has to do is find one of the many corrupt justices installed by TrumpCo and, Bob's your uncle, he gets to revoke his irrevocable trust.
Until he appeals...
He's ancient. He might keel over from old age before the appeals process finishes.
Not your main point but for the past few years I've spent half of the months sick. I got a cold 3 weeks ago, everyone else in the house is better, my throat is still halfway swollen shut, my nose is a broken faucet, my heads still filled with helium. I'll start feeling better just in time for the Christmas party where I'm almost certain to get sick again.
I went to a doctor to see if there was something wrong with me and got a bunch of test done, got a nice ~$800 bill and haven't been able to get in touch with the doctor since. I missed 2 calls from them about a week after my tests and since has been calling in a couple times a month to find out if there's something up but I keep getting "the doctor will call you back later".
I would like to assume the fact that no one is calling me back means I'm don't have anything seriously wrong, but I still would like to know for certain.
Yeah that's my fear of what will happen if I get a bunch of tests done. This cough is awful but nothing mysterious, I just think my kids are just getting me sick repeatedly but only showing mostly minimal signs (except pneumonia my daughter had that we did successfully got treated since our pediatrics are OK).
But I can't ever know for certain because it's just expensive and inconvenient to check, and at the end of the day it's likely "oh, looks like you had RSV followed by COVID followed by the Flu, each a week before their respective vaccines were available this year and within days of each other. Womp womp."
Unions are getting completely overwhelmed with the number of active organizing efforts going on in the country.
That is promising news, at least. Thanks
Interesting the press missed that one.
Bankruptcy Judge Christopher Lopez is from Texas and first got an MA in Theology before going into law -- if that gives you any useful context.
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“I don’t even think the $3.5 million is enough,” [the judge] said.
Cool judge, so you gonna put up the cash? Because last I checked there were only two bidders and the victims wanted the Onion out of the two.
I've been following this closely.
The normal way bankruptcy auctions go is basically some version of this:
- Everyone who wants to bid has to sign an NDA about the assets.
- Everyone who signs the NDA can perform their due diligence, look at financial statements and other confidential information about the assets in the auction, to figuratively kick the tires. If there's actual physical property involved, bidders are generally allowed to physically inspect it (if it's a tractor, for example, you can bring a mechanic to help sort out the tractor's condition).
- Before the deadline, every bidder submits a secret bid to the trustee.
- The trustee evaluates the bids, looks to see which is best, and decides whether the top bids are close enough to hold a live public auction or allow topping bids for the bidders to say "hey you're only $1 million short from the current top bid, you want to throw more money at this?," and going around and around until the trustee is sure they've gotten the best and final bid from everyone.
The judge is upset that the trustee didn't really do step 4, which in the bankruptcy process is designed to squeeze out the highest possible price for the sale. The losing bidder says they submitted a lower bid than their absolute top "best and final" they would have, because they thought they'd have an opportunity to improve the bid in a step that never happened.
So they're going back to do it again. Presumably the trustee will propose a new auction process that explicitly puts out well defined rules on how creditors (like the Sandy Hook families) can credit bid with credit against their own claims, instead of actual cash. They'll need to calculate exactly how much each dollar of credit bid brings to the non-participating creditors (like Sandy Hook families who don't want to credit bid), and make sure that for each creditor who isn't credit bidding gets the most money out of the sale.
I don't think it's over. The judge specifically said that he believes the trustee tried to do the right thing, but ultimately didn't follow a process that was designed to raise the most money.
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