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Near Death Experience

General Motors
Bankrupt, but "it ain't over
until it's over."

The Closing Song For Greece/Grease

Greece and bad fiscal
Judgment go together like
Dip da dip da dip

By Guest Haiku Artist Ariel Collis, Economist

Global Plea

Unemployed so long
Brother, can you spare a job?
No easy answers

Republican Primaries

Battle rages on
Who is more conservative?
Obama is pleased

Occupy Wall Street

One percent are rich
Ninety-nine percent look on
Warfare or envy?

MF Global

Cash has disappeared
A billion here, billion there
So where did it go?

Euro Zone

Hellenic bailout
Grease the skids or skid the Greeks?
Atlas shrugs, again

Guest Haiku

Welcome to a new feature of Basis Points – Guest Haiku! All of our readers are encouraged to submit haiku to our Blogger-In-Chief for potential publication. What will you win? The adoration and adulation that comes with a coveted placement on Basis Points, what could be better than that.

Our first Guest Haiku Artist is Alexandra Mahnken, a Director at Huron Consulting Group in New York.

Alexa’s restructuring and turnaround career spans over twenty years. In addition to advisory work, her restructuring experience encompasses distressed investing, interim management of distressed companies, and investment banking / venture capital, including the sale and liquidation of distressed assets.

Alexa's haiku specialty is commenting on current restructurings, many of which she has been personally involved in. To read Alexa's musings, click HERE.

American Airlines

To file or not to file, that was the question.
Whether 'twas nobler for AMR to suffer
The slings and arrows of chapter 11 bankruptcy
Or to take arms against a sea of unions

And seek to bargain further out of court? To beg, to borrow
No more; and by bargaining to say we end
The heartache and the thousand natural shocks
That debt is heir to, 'tis a restructuring
Devoutly to be wish'd. To beg, to borrow
To refinance so many public bonds. Ay, there's a rub,
For in that sleep of debt what dreams may come
Of offers of exchange when the trading of the debt
Must give us pause? There's the wrinkle
That makes chapter 11 the hope for life.

For who would bear the whips and scorns of those
Who buy the loans and bonds, the trader's contumely,
The DIP lender's demands, the law's delay,
The insolence of committees with hungry lawyers?
And what of the landing slots and frequent flyers?
Should management its quietus make
With a bare petition? Who would wish to bear,
To grunt and sweat and pray in bankruptcy court,
And face the dread of something after debt,
The undiscover'd airport from whose bourn
No traveler returns, the liquidation of all,
And makes us rather bear those ills we have
Than fly to others that we know not of?

Thus bankruptcy does make cowards of us all,
Yet Nothwest and United and USAir
Braved the courts and, in filing, flew high again.
Those airlines of great pith and narrow seats
Did not in bankruptcy let their airlines fly awry,
They filed and survived to fly another day.

File you now, oh fair American!
And in thy filing be all thy debts dismember'd!

Global Recession

Obama, Boehner
All they do is point fingers
I just want a job

The Emperor’s Clothes

He posed for Cosmo
She wants to strip all the banks
Please get a toga

Mighty Casey Has Struck Out

Bottom of the ninth
Two outs, A-Rod at the plate
Rudy sheds a tear

Contact Sports

Peyton Manning hurt
Football is a brutish sport
So is bankruptcy

No Sun For You

Sunlight shining down
Solar panels soak it up
Except Solyndra’s

WaMu Decision

Ad hoc committee
Fiduciary duties??
Target on your back

The Sandbox

Children scream and pout
Can’t you just cooperate?
Debt ceiling is raised