This could be a good swing play, but not a long hold IMHO.

Good Luck
 

Some examples: K-Mart (bankruptcy complete), FederalMogal (FDMLQ), Hayes-Lemmerz (bankruptcy complete).

All three screwed their stockholders!

[This message has been edited by justplayin (edited July 15, 2004).]
 

quote:

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Originally posted by justplayin:
The courts don't like to see that idea in the original plan. It usually comes in one of the ammendments when the company tells the courts that the current plan is not working.

Some examples: K-Mart (bankrupcy complete), FederalMogal (FDMLQ), Hayes-Lemmerz (bankrupcy complete).

All three screwed their stockholders!

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don't forget World Com (MCI)

 

quote:

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Originally posted by sonnydbar:

don't forget World Com (MCI)

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Another great example.

 

I sure won't.
 

quote:

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Originally posted by herm:
kmrt did recover though... trading @ 80 as of today...

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But they issued new shares, all the original investors lost everything.
 

quote:

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Originally posted by kbpkt:
But they issued new shares, all the original investors lost everything.

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I THINK WE WILL KNOW THIS COMING WEEK IF THEY ARE GOING TO GIVE INTO THE REORGANIZATION OF 20 CENTS ON THE DOLLAR TO CREDITORS. I BELIEVE THAT IS BEING NEGOCIATED NOW.

IF THEY DO THAT--IT WILL BE SIMILAR TO HEALTH SOUTH (HLSH) DUE TO ADMINISTRATION FRAUD YADA YADA--WENT TO .10--CLOSED TODAY AT OVER 5.00.

I PICKED UP SOME SHARES TODAY--PURE SPECULATION..IF THEY REORGANIZE THEY SHOULD BE UP AND RUNNING STRONG BY THE END OF THIS YEAR.

500.00 DOLLARS OF HEALTH SOUTH WOULD BE ALMOST 30,000 TODAY. 18 MONTHS--NOT BAD..

ENRON WILL RUN UP FASTER THAN HLSH. IMHO
IF THEY GO BELLY UP--SELL QUICK--IF NOT, COULD BE THE WINNING LOTTO TICKET. LOL

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DIANA
 

Jul 15, 2004 (AP WorldStream via COMTEX) -- A look at the two companies that will emerge from the Chapter 11 bankruptcy reorganization of Enron Corp., which will cease to exist:

Crosscountry Energy Corp:

Assets:

-2,600-mile (4,185-kilometer)Transwestern Pipeline, which transports gas from West Texas, Oklahoma, eastern New Mexico, the San Juan Basin in northwestern New Mexico and southern Colorado to California, Arizona and Texas markets.

-Half-ownership (with El Paso Corp.) of Citrus Corp., a holding company that owns the 5,000-mile (8,045-kilometer) Florida Gas Transmission pipeline from southeast Texas to Florida.

-A less than 2 percent interest in Northern Border Partners, which transports natural gas from Canada to the Midwest.

Financial projections: Combined net income from its interests in those three assets in 2002 was $78.1 million, according to bankruptcy court filings. Future net income expected to be $121 million to $159 million in 2004-2006.

Estimated worth of the assets: Ranges from $1.409 billion to $1.571 billion.

Employees: 1,200.

Enron has competing offers to buy CrossCountry for about $1.8 billion plus assumption of $430 million in debt. A bankruptcy judge will consider those and any other bids at a Sept. 1 auction, and is slated to approve the winning bid Sept. 9. Proceeds would help pay Enron creditors.

Web site: www.crosscountryenergy.com.

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Prisma Energy International Inc.

Assets: Located in 14 countries, and including more than 9,600 miles (15,445 kilometers) of natural gas transmission and distribution pipelines; more than 56,000 miles (90,105 kilometers) of electric transmission and distribution lines; more than 2,100 megawatts of electric generating capacity; and serve 6.5 million LPG (liquefied petroleum gas), gas and electricity customers.

In three business segments:

Natural gas services.

-Nine city gas distribution companies in South Korea providing service to more than 2 million customers.

-LPG distribution businesses in Venezuela and South Korea providing service directly or through distributors to 2.2 million customers.

-Six separate transportation businesses in South America putting out 3.2 billion cubic feet (96 million cubic meters) per day of natural gas over 6,000 miles (9,654 kilometers) of pipelines.

-Natural gas liquids extraction, fractionization, refrigeration and storage facilities in Venezuela.

Power distribution.

-Elektro. Provides retail electricity delivery to about 1.7 million customers in Sao Paulo and Mato Grosso do Sul, Brazil, through subsidiary Elektro, a Brazilian local electricity distribution company. Concession area covers 223 municipalities in Sao Paulo and five municipalities in Mato Grosso do Sul, encompassing about 56,000 miles (90,104 kilometers) of distribution lines. Elektro is the third-largest local electricity distribution company in Sao Paulo and the seventh-largest in Brazil.

Power generation.

-Expected to consist of ownership interests in 10 power plants with a total generating capacity of 2,100 megawatts; Prisma's ownership percentage will represent generating capacity of 1,180 megawatts. The plants are in Argentina, Brazil, the Dominican Republic, Guam, Guatemala, Nicaragua, Panama, the Philippines, Poland and Turkey.

Financial projections: Expect net income of $112.8 million to $233.2 million in 2004-06.

Estimated worth of assets: $713 million to $918 million.

Employees: 9,000, including 4,000 employed by joint ventures.

Web site: www.prismaenergy.com

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Source: Enron filings in U.S. Bankruptcy Court in New York.

Copyright 2004 Associated Press, All rights reserved

[This message has been edited by WinsumLosesum (edited July 16, 2004).]
 

I only have $150 to loss after already lossing like 1.5 k so I guess I am holding & hoping they do not cancel the old shares.....

RBAK is one which somehow compensated their old shares....So there is still hope.....

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GLTA

Raja

Always do your DD before Investing or Daytrading