Rumor Mill

[Twicebaked]

I was told today that Richard Branson purchased 49% or US Airways stock yesterday. I would have assumed it would be on here if it were true.
Can anyone verify or deny this rumor?
Since I haven't read it ANYWHERE I would assume it not to be true.
I am sure USA320pilot's "insiders" would have told him before anybody else. <_<

 

[justaumechanic]

I think it if were true it would have been all over the news.. Whats the law, when a group or entity wants to purchase more than 5% of the stock they have to File with the SEC..

If Branson had bought 49% I think that would have been a big news item.

 

[dfw79]

Why would he buy 49% of stock that is going to be cancelled upon emergence?

 

[Bear96]

I don't think he's that stupid.

Either upon liquidation, or upon exit from Ch.11, the current stock will become worthless. So what's the point in buying so much of it?

 

[Art at ISP]

Branson is not American--he can't have more than 25% -- or has that changed????

 

[usairways_vote_NO]

Why would he buy 49% of stock that is going to be cancelled upon emergence?

[post="256687"][/post]​

Exactly he wouldnt be buying the stock he would be investing in company.

Besides there is 50mil shares in the float ( 56.6 outstanding) and only 465,014 traded yesterday.

 

[robbedagain]

by us laws, he can have 49% stock but an american company would have to have the rest plus control i believe. i think that if he brought 49% it may not be effective until after ch11 exit. my opinion only

 

[EyeInTheSky]

Branson is busy with the launch of his latest airline (I kid you not) Virgin Nigeria. He was asked to do so by the Nigerian government.

 

[usairways_vote_NO]

. i think that if he brought 49% it may not be effective until after ch11 exit. my opinion only

[post="256693"][/post]​

Then you are not talking about buying the current stock

 

[robbedagain]

Then you are not talking about buying the current stock

[post="256697"][/post]​

no not the current i thought may be that he would wait and may be purchase after ch11 that way it will be say fresh start

 

[BoeingBoy]

Branson (or any other foreign national) could own 49% of the stock. As it stands now, however, he (or they) can't have more than 25% of the votes.

To accomplish the 49/25 equity/votes split means there would have to be at least two classes of stock, one carrying extra voting rights (or conversely carrying no voting rights).

Since the AWAC agreement calls for only one class of stock, all one share one vote - they would either have to be paid off (not be an equity investor) or the agreement amended.

Jim

 

[PHL]

ANOTHER unsubstantiated rumor.

Nothing on the business wire as of this moment.

Didja hear!?? Bill Gates wants to invest $1B in USAirways.

 

[usairways_vote_NO]

ANOTHER unsubstantiated rumor. 

Nothing on the business wire as of this moment.

Didja hear!??  Bill Gates wants to invest $1B in USAirways.

[post="256890"][/post]​

No but I heard Buffet and Gates were arm wrestling over USAirways Groups certificates loser takes all.

 

[Twicebaked]

ANOTHER unsubstantiated rumor.

Nothing on the business wire as of this moment.

Didja hear!?? Bill Gates wants to invest $1B in USAirways.

[post="256890"][/post]​

That is why the thread is titled "Rumor Mill". Unlike others, I am not claiming this to be true. Read the origianl post again.

 

[Imamec.itsmyfault]

This is really a no brainier... If Branson bought ANY of our stock, it would have been all over the news. Plus, billionaires as a general rule of thumb don't buy huge amounts of stock that will be wiped out within the next few months, that's called toilet paper! Also, if he did want part of U, at this point he would be lining up to finance our BK exit, in return for a stake in the company. It would be stupid to bypass a chance to buy a big chunk of the company for a hundred million or so, just to buy the stock on the open market later. Buying on the open market would cost him substantially more, and get him substantially less. Again, a move billionaires don't tend to make!