That’s what Bloomberg’s predicting. The last time I reported on this subject, last May, Coldwell Banker had my column terminated at The Greenwich Post by threatening to pull their advertising. They achieved their immediate goal, thanks to my pusillanimous publisher, Marty Greenberg, but they might have better spent their energies preparing for the bankruptcy of their own owner, Realogy. After all, I’m not the one who loaded up the company with junk bonds – that would be the investment banker geniuses who took control of Realogy.
(Thanks, CEA for forwarding me this long awaited story)
Update: You may want to read this NYT story on Realogy’s troubles and future. If you don’t, let me summarize: bleak. The comments to the article are even more discouraging but I assure you, I didn’t write them.
And again. Noted without comment:
“Given our previously stated view that Realogy’s ability to service its current capital structure over the intermediate term will be challenged, we view the exchanges as being tantamount to default,” Emile Courtney, an analyst at S&P, said in a report today.
Mark Panus, spokesman for Realogy, declined to comment.