Poolbeg Tinkers Curse For Covanta is Bankruptcy?

The Poolbeg Tinkers Curse is Bankruptcy.

Poolbeg Incinerator operator Covanta is highly rated for bankruptcy.

Thinking of building on Poolbeg's sands?  Get a grip.  Companies building in Dublin Bay stand a high chance of The Bay taking revenge on their toxic hubris. 

1. Poolbeg: Zoe Developments -  Bankrupt?
2. Poolbeg: DDDA - Bankrupt?
3. Poolbeg: IGB Investors - Bankrupt?
4. Poolbeg: Incinerator - Covanta rated for Bankruptcy.
5. Quinlan: 'Retired' to Zum Zug country. 

(all of this is pub-talk speculation without any foundation whatsoever, allegedly, not even from the  bribed Financial Regulator of Ireland, allegedly.  Or at least its speculation until DDDA's "parish governance expert" publishes some accounts for 2008.  Even cooked ones would be good at this late stage.)

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[Pub Talk].

Only the Irish bankrupts swallowed by The Poolbeg Tinkers Curse will be saved by passive Irish taxpayers in the NAMA scam.  Leveraged Covanta will have to rely on self-made CEO's named Toni in the local NY and NJ waste and cement industries in their polluted garden state, not one of whom has ever sunk a ship with radioactive waste off Italy. 

[Pope Talk].

Once upon a time in the 1890's the pope in Rome wondered why the Irish were not law abiding like the Germans and obeying their government.  Now in the Celtic Rat era the newly passified Irish are obeying offshore bonds' salesmen, including bonds scammers in London laughing at Paddy Irish taxpayers. 

[Green Talk].

Covanta is highly rated for bankruptcy - even with the awesome anti-competitive contract they signed with Dublin City Council, some of whom existed long enough in the public service game to depart into publicly funded pensions. 

[Fool Talk].

According to The Motley Fool Covanta is one of seven stocks that 'could cause permanent losses of capital'.  

The man om the left in the bin is Mr Zell, major owner of Covanta stock ($666 million worth in 2008).

Covanta has a ridiculous Z-score of just 1.29, very bad news for billionaire Mr Zell, a Covanta investor.  Mr Zell dumped his property portfolio for many billions exactly before the property crash.  


Does he still own Covanta and the Chicago Cubs?  Is he still wrecking the LA Times and The Chicago Tribune in a scenario the journalists refer to as Zell Hell?




Zell Hell is distinct from Cell Hell, a loose term for the process whereby small and invisible particles from an incinerator or other sources enter your cells giving you heart problems, cancer and a premature death.   


A more technical name for the particles is "PM10", "PM 2.5" and "PM1.0".  The science for what these dangerous particles do is here.

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Balance sheet / financial risk: Excessive leverage can force a company into bankruptcy, no matter how sound the underlying business. Investors need to be particularly sensitive to financial risk in an environment that combines a contracting economy and tight credit.
 

The Z-Score is a statistical indicator of bankruptcy risk developed by Edward Altman of NYU. Montier's screen identifies companies with a Z-score below 1.8, the "distressed" range in which companies run a significant risk of bankruptcy.      Example: Covanta.

Caution from legal advisors to Magdalene Laundries & Letterfrack.  
Caution: the 200-day technical average may give a different view on Covanta.