posted
I'm still holding, I don't daytrade. Market over reacted to DCN. I believe I'll make 300% holding for 3 to 4 months. Just received my dividend for QSII and now waiting for the split.
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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posted
depends on the bankruptcy. if there is something left for equity holders it will be good. looks like thats what people are guessing. if its like most Bankruptcies, it will slowly go to 0 after making some more moves like the last few days.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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quote:Originally posted by metal1: depends on the bankruptcy. if there is something left for equity holders it will be good. looks like thats what people are guessing. if its like most Bankruptcies, it will slowly go to 0 after making some more moves like the last few days.
Well said. Its a shame this baby hit the dirt. We all should of made a killing on it....providing they hadn't filed chapter 11.
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TIME KILLS EVERYTHING.....
Posts: 2367 | From: Detroit | Registered: Mar 2005
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I asked this in another thread, but since no one there answered I'll try my luck here.
I know the "Q" at the end of DCNAQ means "in bankruptcy". What does the "A" stand for or is it just part of the new ticker for Dana Corp. on the pinksheets (DCNA)?
TIA,
NR.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Normally when a stock gets delisted and sent to pinks, it gets a new symbol. So DCNA would most likely be the new symbol. Now a few other points. I have seen stocks get different suffex. For instance....Mutual Risk Manatagement back in 2002 was delisted in april from the NASDAQ. The Nasdaq symbol was "MM". When they opened on OTCBB, the new symbol was "MMRLE" then became "MMRLF". Now I'm not sure about all the situations and symbol changes because I have seen the following:
"LE" "LF" "AQ" "E" Can't remember the others, but I really don't know for sure what they all mean. The "E" is when they didn't state their financials I believe. "LE" is just delisted. "LF" is delisted and chapter 11. "Q" is chapter 11. I'm sure I might be wrong so don't quote me on all of this.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
Holding DCNAQ for the BIG swing. DCN has only to get inside management under a better , more focused plan, and I'm not sure but I thought I'd read that the employees average about $45. an hour? Incredible. Unions are killing whole companies thru greed. Not on anybodies side in that respect , but , increasing revenue and still increasing losses faster is a BIG red flag in the mismanagement of everything from overcompensated employees to overcompensated management. I don't believe the shares will go the way of MCI, organization should free Dana up . They have too much business to fall apart now. Of course , this is only my humble opinion. I believe this could be my best swing of the year!
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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posted
dana is something to becareful with. it can drop big time. id play it safe and make certain that you have a stop loss in. I do see potential here in the long run for this stock once we understand more of what the bancruptcy will do to shareholders. till then its just a play for me.
Posts: 332 | Registered: Jun 2005
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quote:Originally posted by amanick: id play it safe and make certain that you have a stop loss in. I do see potential here in the long run for this stock once we understand more of what the bancruptcy will do to shareholders. till then its just a play for me.
Good advice!!
Ok....lets check the OVERPAID stuff. Let me bring up one of my checks....since I am a UAW hourly DaimlerChrysler employee....well base this on my last check. Facts:
I make $26.08 per hour COLA is $1.49 per hour (COST OF LIVING ASSISTANCE) = Hours worked 52 = $1,433.64 Excess hours 6 = $165.42 AWS is 1.25 hour (Alternative work schedule)= $36.19 Shift preminum 5% = $79.95
401k defered pay 10% = $171.52
Federal Taxable = $1,543.68
Federal tax = $217.72 Social Security = $131.32 Michigan Tax = $60.20 Total taxes is $409.24
Life insurance = $4.14
Take home = $1,134.44
Now the company has to pay what I pay in SS...so I make $26.08 + 5% shift preminum = $27.38 + COLA = $28.74.
Based on 40 hours I would make $1,149.60. I would pay 8% SS = $91.97....so Chrysler matches that....so the total is $1,149.60 + $91.97 = $1,333.54.
Ok....divide that by 40 hours.....$1,333.54/40 = $33.34 per hour.
Now health care....Average plan usually costs a person $4,700....lets round up and add $1,000.....so H-C = $6,000.
$33.34 * 2080 hours (52 weeks x 40 hours) = $69,347.20 + $6,000 = $75,347.20. Now divide that by 2080 hours = $36.22 per hour.
$36.22 per hour is far cheaper than what the big 3, visteon, and delphi all claim don't you think??? Delphi claims they pay people $69.00 per hour to mow the lawn....JOKE!!!
The reason we get higher wages than others is because the UAW over the past have nogotiated jobs, speeding up the lines, higher volume, robotics, etc. You can pay some guy in a small shop $12.00 per hour....but that press only runs soo fast.....at GM, Ford, Crysler....that guy that would run the press....the press runs far faster than the small shop....he has to multiple of tasks, etc. Small shops don't build cars/SUVs/trucks....we do.....we build the transmissions/engines.....nobody else. That is why we get paid what we do....each employee is specialized in their job(s). Don't get caught up in the HYPE of the UAW workers get paid too much....we have very dangerous jobs, donate to the community, boost the economy, etc. As for any of us making more than $40.00....YEAH RIGHT...maybe those big fat cat CEO's should take a cut.....they drive companies into the ground and give themselves huge bonuses. Bill Ford Jr....he just announced that he won't take a pay raise this year.....maybe the other crooks will give us a break also.....sure......????
But go read the old news on Delphi....you'll read about how the Execs get FAT BONUSES.....why??? Did the employees make the decision to ruin the company....no....the execs did that....they should be the ones to pay.....not the people who dedicate their lives to a company only to lose their job, retirement, pension, etc. Speaking of PENSIONS....we get $50.00 per month for each year of service incase your wondering.....maybe that is where they get the $69.00....WHAT A LIE!!!
(this isn't to upset anyone or sound like I'm bragging, just stating facts).
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
have you looked at the charts on Delphi (DPHIQ), Tower Automotive (TWRAQ). Look at the current price and the 52 week low....you will wish you had bought in on them. Now they are garbage.
Go check out this website for information on what the UAW is doing in reguards to all these auto companies.
posted
Non-union auto parts companies are changing the landscape in America, those who can't accept change will lose everything. Competition is the capitalist way, and if you're not humble enough to accept and make personal changes for the good of the whole, a whole lot of American workers will find theirselves looking at the foreigners taking their jobs. Globalization is coming whether we want it or not. Question is simply are we up for the competition.
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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$2.77........WTH is going on?????? Ok.....now I wish I had held the damn stock.......would of broke even if not made money.....instead of lossing $15,995 on this damn thing!!
Posts: 2367 | From: Detroit | Registered: Mar 2005
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