I know what you're thinking:
Well, shit, that was a good run. We put a lot of great lawyers into practice and built a glorious new law school building at the tail end of a legal education bubble. We can be proud of what that school accomplished, easily living up to its namesake, but it is obvious that maybe the law school enrollment market isn't what it used to be, since, you know, the world has gone fucking crazy and no longer values high-quality legal education. Thank God many of our peers were able to ride the wave for so long.
But, you know, you're a negative nancy and the school has other ideas.
The School expects to have additional positive information concerning our work with the bondholders within the next few weeks. Because a restructuring of the School’s obligations to the bondholders is likely, the School believes that it will be able to continue to prosper.Continue. to. prosper.
This should be obvious to anyone who knows American economic history. All sorts of companies have gone into Chapter 11 or similar situations and come out stronger and better than ever. Like Blockbuster, Eastman Kodak, KMart, and most of the major airlines! Like them, I expect TJLS to heal its wounds and become stronger than ever. Broken bones heal stronger.