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AMR Bankruptcy Cancels The Common Stock?



 
 
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  #1  
Old December 9th, 2011, 06:28 PM posted to rec.travel.air
Robert Cohen
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Posts: 433
Default 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
  #2  
Old December 9th, 2011, 11:22 PM posted to rec.travel.air,misc.transport.air-industry
John Levine
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Posts: 176
Default AMR Bankruptcy Cancels The Common Stock?

I would be astonished if AMR common ended up being worth more than
$0.00. Bankrupt means your debts exceed your assets, and the common
stockholders come last in line after all of the debts and preferred stock
are paid off.

The real question is who is paying as much as 69 cents for it.

R's,
John
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  #3  
Old December 13th, 2011, 06:35 PM posted to rec.travel.air,misc.transport.air-industry
Robert Cohen
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Posts: 433
Default AMR Bankruptcy Cancels The Common Stock?

On Dec 9, 5:22*pm, John Levine wrote:
I would be astonished if AMR common ended up being worth more than
$0.00. *Bankrupt means your debts exceed your assets, and the common
stockholders come last in line after all of the debts and preferred stock
are paid off.

The real question is who is paying as much as 69 cents for it.

R's,
John
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misc.travel.air-industry is a moderated newsgroup. Please mail messages to
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Yes and no in my observation: bankrupts, especially in chapter 11, do
trade, it's another art for accountant heads to play

In some if not most bankruptcies---including apparently all of the
legacy airlines--they cancel the common: yes, and AMR will seemingly
do likewise.

believe it or not, there are shares nevertheless of some "cancelleds"
that are semi infintely traded as low as $0.0001 per share

there are almost a bazillion less than one dollar stocks, and it is
rumored (especially by the gops and apostate democrats) a few
companies on life support

some idiots (including a familiar if not peculiar semi un-handsome
poster) gamble in the cruddies
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