AMR Bankruptcy Cancels The Common Stock?

I dunno

Delta, United, Conti, USA and others APPARENTLY bankrupted to kick/
un-encumber their pension legal responsibilty (ies) and/or whatevers

these are legal and moral issues which are semi great for discussions

but i greedily am only interested in taking advantage (and usually
losing my
ass) opportunistic capitalism, which is another issue & quasi
wonderful
for cogitation (and adding that officious Congressional annointed
pizza & catsup veggies to cottage cheese)

AMR is today about 69 cents a share, i dunno about their preferred
stocks and bonds
prices

IN OTHER WORDS: apparently most investors ("the market") think the
common stock will
be cancelled/worthless, and completely new issue coming out of
bankruptcy

what is the gossip in the pilot lounges etal saying about this?

do you think the current AMR common stock to be worthless,
or perhaps to be diluted/de-valued so much it ain't even worth the 69
cents
plunge bet