Your stock has doubled over the last few weeks
- Thread starter texflyer
- Start date
Very early on in the BK process it was said in the daily
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
gimbalimit
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On 5/7/2003 9:38:59 AM ualflynhi wrote:
Very early on in the BK process it was said in the daily
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
Dude, Before investing in the stock of a corporation in the throes of chapter 11 Bankruptcy I strongly counsel that you read up on the Bankruptcy code - it essentally states, with obscure exceptions, that all creditors be made whole before any equity owners get a slice of the pie - translation; if any pre-filing creditors dosn''t get 100% of their claims in the re-org plan the stock WILL be cancelled and new stock re-issued to impaired creditor classes; so, unless you have a firm grip on the outcome of this issue you''d be an idiot to buy AND hold any UAL stock, OK?
On 5/7/2003 9:38:59 AM ualflynhi wrote:
Very early on in the BK process it was said in the daily
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
Dude, Before investing in the stock of a corporation in the throes of chapter 11 Bankruptcy I strongly counsel that you read up on the Bankruptcy code - it essentally states, with obscure exceptions, that all creditors be made whole before any equity owners get a slice of the pie - translation; if any pre-filing creditors dosn''t get 100% of their claims in the re-org plan the stock WILL be cancelled and new stock re-issued to impaired creditor classes; so, unless you have a firm grip on the outcome of this issue you''d be an idiot to buy AND hold any UAL stock, OK?
Gimbalimit:
May I remind you and all those who are tempted to buy UAL stock UALAQ.OB hoping to recover your losses. The over the counter stock is highly speculative and is being traded by Day Traders (get in quick and get out quick). The over the counter market is not for long positions in the market. The over the counter stock is pure gambling if you do not know what you are doing and have the time to buy and sell daily or even hourly. If you still want to invest, then I suggest you set up a personal account with a broker on your own. I am not sure that the company retirement account will permit over the counter investing. I doubt it.
May I remind you and all those who are tempted to buy UAL stock UALAQ.OB hoping to recover your losses. The over the counter stock is highly speculative and is being traded by Day Traders (get in quick and get out quick). The over the counter market is not for long positions in the market. The over the counter stock is pure gambling if you do not know what you are doing and have the time to buy and sell daily or even hourly. If you still want to invest, then I suggest you set up a personal account with a broker on your own. I am not sure that the company retirement account will permit over the counter investing. I doubt it.
ual747mech
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Here''s some info from the SEC about stocks of a company in bankruptcy.
What Will Happen to My Stock or Bond?
A company''s securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company''s plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company''s assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds, or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. The new shares may be fewer in number and may be worth less than your old shares. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company.
The bankruptcy court may determine that stockholders don''t get anything because the debtor is insolvent. (A debtor''s solvency is determined by the difference between the value of its assets and its liabilities.) If the company''s liabilities are greater than its assets, your stock may be worthless. Contact your local Internal Revenue Service (IRS) office or call 1-800-829-1040 for information about how to report worthless securities as a loss on your income tax return. If you don''t know whether your stock has value, and you can''t find a stock or bond price in the newspaper, ask your broker or the company for information.
What Will Happen to My Stock or Bond?
A company''s securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company''s plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company''s assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds, or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. The new shares may be fewer in number and may be worth less than your old shares. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company.
The bankruptcy court may determine that stockholders don''t get anything because the debtor is insolvent. (A debtor''s solvency is determined by the difference between the value of its assets and its liabilities.) If the company''s liabilities are greater than its assets, your stock may be worthless. Contact your local Internal Revenue Service (IRS) office or call 1-800-829-1040 for information about how to report worthless securities as a loss on your income tax return. If you don''t know whether your stock has value, and you can''t find a stock or bond price in the newspaper, ask your broker or the company for information.
ual747mech
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On 5/9/2003 7:34:35 AM novaqt wrote:
ual747mech:
Thank you for the very informative post. I hope everyone on this board pay attention.
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YW.On 5/9/2003 7:34:35 AM novaqt wrote:
ual747mech:
Thank you for the very informative post. I hope everyone on this board pay attention.
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On 5/7/2003 9:38:59 AM ualflynhi wrote:
Very early on in the BK process it was said in the daily
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
----------------
On 5/7/2003 9:38:59 AM ualflynhi wrote:
Very early on in the BK process it was said in the daily
briefing that the company was not going to cancel the stock.
For example Kmarts stock was canceled and new stock will be issued
I am personally thinking of buying 1000 shares of UAL and keep it
until I retire in about 7 years.For a 2000.00 dollar investment I
think I can recoup some money I lost on the ESOP fiasco.I will
make money after 4 dollars a share.UAL isnt going out of business
and when all these renegotiated deals and contracts kick in I think
the stock will start heading up.
p.s.dont play what you cant afford to lose.
----------------
Go to Vegas and put it all on Green. your odds are better. I thought the stock would have some real value after BK prior to filing due to the large number of shares owned by the ESOP and the implications of a POed workforce if they were liquidated. Unfortunately SSB sold out at a lower price than the current price and J. Brace has even said the likelihood of the stocks having any value after BK was near 0. I would be VERY surprised if they retained value. The only scenario I could see is if one of the big unsecured bondholders also had a large stake in the stock. But the new management team doesn''t want their stock options diluted by silly old UAL shareholders.
When I checked on Yahoo many people on the board of directors are buying
ual stock at the current time.Are they all crazy or just stupid?
http://biz.yahoo.com/t/u/ualaq.ob.html
ual stock at the current time.Are they all crazy or just stupid?
http://biz.yahoo.com/t/u/ualaq.ob.html
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On 5/12/2003 8:36:25 AM ualflynhi wrote:
When I checked on Yahoo many people on the board of directors are buying
ual stock at the current time.Are they all crazy or just stupid?
http://biz.yahoo.com/t/u/ualaq.ob.html
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On 5/12/2003 8:36:25 AM ualflynhi wrote:
When I checked on Yahoo many people on the board of directors are buying
ual stock at the current time.Are they all crazy or just stupid?
http://biz.yahoo.com/t/u/ualaq.ob.html
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I checked the link you provided. Notice all the "buying" from the BOD was at the exact same number of shares, and not on the open market. As part of the "pay" for being a BOD member, they get stock awards. They don''t pay for the stock, it just shows up. as for the mental capacity of our BOD, well, make your own judgement.
