Brundage-Bone Concrete Pumping, Inc/ JLS Concrete Pumping, Inc.

For Immediate Release

Court Confirms Brundage-Bone Concrete Pumping Plan of Reorganization
Denver, CO April 29, 2011- United States Bankruptcy Court in the District of Colorado presided by the Honorable Judge A. Bruce Campbell confirmed the Plan of Reorganization filed by Brundage-Bone Concrete Pumping, Inc. and it’s wholly owned subsidiary JLS Concrete Pumping, Inc. (the “Company”). Judge Campbell complimented the Company, Sender & Wasserman, P.C., Ballard Spahr LLP, CRG Partners Group LLC, the equipment lenders of the reorganized company and the Official Committee of Unsecured Creditors for their collective creativity and effort in bringing this plan together for confirmation.
William Snyder, Chief Turnaround Officer, stated, “The Company is now deleveraged, has paid off the DIP financing, has adequate liquidity to run the business through this building downturn and provides equipment availability for future growth.”
The confirmation of the plan gives the Company a fresh start. BBCP CEO, Bruce Young stated “The confirmation of the Plan of Reorganization reaffirms the efforts of the Brundage-Bone TEAM. The belief that all of our TEAM members have in this business and the support of our customers and suppliers have given us the strength for a great future.”
Brundage-Bone Concrete Pumping, Inc. and its wholly owned subsidiary JLS Concrete Pumping, Inc. is the largest provider of concrete pumping service in the United States. The company was founded in 1983 and operates in over 70 cities in 17 states providing concrete pumping service to residential, commercial, and infrastructure markets.

Is this supposed to be good news? I think it shows the failure of so many things. (shakes head in disbelief)

This is SO WRONG!!!  Makes me wonder if this is a corrupt judge?  How else could he approve a plan that's lost over $20 million since they entered this protection without making any payments towards the original $240 million debt.  It just isn't fair for those of us who work very hard to pay our bills as agreed!  Wonder what the lenders truly think they'll get of the $240 million they gave out!  That equipment will be really bad when they finally pick the rest up.  I know of many more units coming up in auctions around the country that are being repo'd from them, JUST WATCH!!!

Maybe this will bring the end much more quickly without the courts protection, maybe the lenders will have a much shorter leash and be quicker to pull the plug once payments arent being made? I wonder who they scammed (allegedly) to borrow the $ to repay the DIP financing?

It may take longer for the dishonest/cheating/non bill paying people at the top to get their just due.

iTS TIME TO BACK OFF AND LEAVE THEM ALONE,ITS NOT OUR PROBLEM OR ANY OF OUR BUSINESS.

except trying to compete with them

In Tenn they have raised their prices.

Biged, with all do respect, this is our business!  I've heard that they have raised prices in smaller markets, but all the larger markets have done the oposite.   We compete against them every day.  61 Meter going for $5.00 a yard flat, 52 meter going out for $4.00 a yard flat etc. for 200 yard pours!  That's the problem with continuing to allow them to operate without any payment liability.  $4.5 million debt service payments per month should have been paid against $240 million on a 5 year note.  Take that times the last 18 months of bankruptcy plus another 6 months minimum prior to filing = $108 million operating advantage / 700 pumps = $154,000 per pump advantage over all other competitors.  So you bet it's our business!  Reorganization bankruptcy is in place for companies that can prove their ability to correct problems and become at the very least able to sustain itself and/or eventually become profitable.  IT IS THE COURTS RESPONSIBILITY TO PROTECT THE PUBLIC BY NOT GIVING A BANKRUPT COMPANY THE ADVANTAGE IN COMMERCE THAT COULD DESTROY AN INDUSTRY BOTH LOCALLY AND ABROAD WHICH IS BY FAR A BIGGER POPULATION OF EMPLOYEE'S THAN THE ONE COMPANY THAT'S IN BANKRUPTCY!  Thousands upon Thousands of pump operators with family's are being affected in this country!!!

Well said Wizzard

very well said Wizard

THE bottom line is, They have done what the court's have ordered them to do.They have done it ALL with in the law,no matter how you look at ,read it, or for some ,misinterpret what they read. a fact is a fact! they have done what the court's have ordered.( IT IS DONE ) 

You can not change it now! no matter what you post,what you say,how you say it,  IT IS DONE!!

  BRUNDAGE-BONE/JLS IS HERE TO STAY!!

GET OVER IT. IF YOU DONT-THEY WILL GLADLY PUT A PUMP ON YOUR JOB SITE WITH ONE OF THEIR OPERATOR'S RUNNING IT.

So focus on your own company and it's business

Sounds like some propper competition distortion to me. Wouldn't it be great if we could all do bussiness like that.. I would be imbaressed if I was operating a pump with that name on it.

Guys weather its right or wrong there is nothing anyone can do we were not asked for any input, if any of the pump builders want to keep giving stuff away to one company then boycott them, I don't bother them and they leave me alone it works good.

Oh it is wrong, no one has fricken misinterpreted anything, we can't do anything about it, but you know what, BAD people get theirs in the end. And they won't get on my jobsites.

hardface well said all of you nay sayers can just watch bbcp grow and get stronger we are here to stay so deal with it......bbcp has been a great company to work for and i plan on working at bbcp till i retire good job bruce young and thanks for all of your hard work!!!! bbcp all the way all team work all the time...keep striving to be the best.. and we will be here to stay for a long time!!!!!! 

at least another 7 years.

this is a good thing, no more protection, either pay your bills or your pumps will be repoed, cant wait to see it on tru tv.

One should believe in their company but too many of them have blinders on and believe everything they are told. Who do congratulate that put you in that mess? The same silver tongued devil that screwed Aurora.

joe you need to get of the bbcp bashing you dont know shit as to what is going on there you are just fed bs and then try to act like you know what is going on!!! there is a reason why you are not part of bbcp and you know why so do us all a favor shut up! you will see bbcp for many more yrs they are a great company to work for come in do your job 100% and go home you do that and you will always have a job at bbcp something you could not figure out so joe once again get used to bbcp being around...always the best all the time bbcp till i retire....................

I am reminded of Jim Jones with all the kool aid that is getting drank...

And if you read the court filings you know whats going on, If you listen deafly to management YOU don't know what's going on. period.

Too funny....What is so dam funny is they take it it personal. It doesnt matter what line of work you are in, you do your best dont believe everything you hear and only believe half of what you see. Hell, then if you have half a brain, you read the documents and if you dont believe them you are dumber than you look. Its that simple. There are some decent people left there, none of them at the top. They took you to the brink of collapse. Have some belief in yourself and your skills and quit drinking the koolaid.

I agree Brundage-Bone is here to stay!!!! They are the best and will always remain the best!!!!! Pretty soon, I hope to see them take over Canada and show them all how its done!!!!!!