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FALCN03 E-4B Nightwatch sw from Wright-Paterson AFB
PAT008 C-560 east out of Ft. Leonard Wood, MO
AZAZ0909 C-560 on final at Ft. Bragg from Fayetteville, AR and Victorville, Ca SoCal Logistics Airport..very spoopy stuff north of that location in the canyons-ground markings and covered tunnels. Maps show some of it. There is a water tower that has some heavy fencing and surveillance equipment around it. Pretty hi-tech stuff being in the middle of the abandoned base housing.
VM767 C-560 on descent for JBA from Kansas Citu-New Century Air Center
Blackstone's Distressed-Debt Fund Suffers Record Loss On Energy Investments
A distressed investor should, as the name implies, be able and successful to navigate markets and deliver outsided returns on distressed assets especially during distressed times. Alas, in the case of Blackstone's distressed credit arm, GSO Capital Markets, the opposite was true, and in the first quarter of 2020, the fund delivered its worst quarterly performance ever. GSO - once a wrecking ball in the distressed debt space and the company that singlehandedly broke the CDS market so badly, even Goldman accused it of destroying the Credit Default Swap market back in 2018 - returned a net -30.3% in Q1. The losses were driven mostly by its investments in the energy sector, which crippled returns and have emerged as the sector that is below "distressed" in the cap structure.The loss compares to a 3.1% gain in Q1 a year ago, and a negative 1.1% in the last quarter of 2019, when energy was also a drag as Bloomberg notes. The company will post even worse returns for Q2, when a supply glut and crashing demand sent oil futures prices into negative territory during April, and unleashed a liquidation wave among energy bonds and stocks, with countless shale companies expected to go bankrupt.
Meanwhile, for the last 12-months, net returns were also down 35.3%, according to Blackstone’s presentation. By contrast, GSO posted a negative 14.1% net return on its performing credits for the quarter.
While cool-sounding, the name "distressed" in the title of a fund appears to only reflect the fund's own prospects these days. While in good years, there are virtually no distressed assets, in bad years, the distressed assets tend to go from part straight to bankruptcy, without passing go, which makes a mockery of any fund that tries to time a recovery.
As Bloomberg notes, "investors in distressed debt struggled to post gains last year because low interest rates and frothy credit markets helped troubled issuers find new backers to bail them out. Now the coronavirus pandemic has created new targets for credit investors to buy at steep discounts, with the total approaching $1 trillion at one point during March, according to data compiled by Bloomberg."
And while Blackstone had a dismal quarter, Q2 may be catastrophic. The reason: the company's aggressive expansion in the junk-rated energy space, which is now set for a record deluge of bankruptcies. In June of 2019, GSO raised $4.5 billion for one of the largest energy-focused credit funds ever.
Any funds from that pool that were invested in the energy sector is likely worthless now.
https://www.zerohedge.com/markets/blackstones-distressed-debt-fund-suffers-record-loss-energy-investments
Muh VPN
AZAZ0909 C-560 up from Ft. Bragg and ne after a quick ground stop
It has not been rolled into the Treasury contrary to popular belief. The only thing done was an oversight function added via Treasury because munchkins reports to POTUS.
Think they did one early on and then most likely do another one to compare.
_80-1070 U2 heading back to Beale AFB
SAM639 G5 on final at JBA-missed capping him
AZAZ0909 C-560 from Ft Bragg on descent for JBA
PAT104 C-560 from Ft. Benning ne and PAT008 from Ft. Leonard Wood contiunues east
PAT848 Beech Huron from Newport News Int'l ne
not crap. read about nigga. You all jumped the gun and saw what you wanted to see.
MARLN20 and MARLN15 P-8 Poseidens from Whidbey Island NAS off Washington State Coast
chek'em and confirmed it's busy
baker union shill attempting to keep the narrative alive but failing miserable as usual
>Freshly Baked Union Bread