Got Parlay?

[trailblazin]

oh my....QSGIQ at .125 now...woot!

[trailblazin]

to entertain myself while I wait for WAMPQ to play out....I bought a bunch of QSGIQ this morn at .03 - nice day it had!

[trailblazin]

Well Ladies and Gents....our train ride towards the Great Parlay commences again tomorrow....let's see how far we get towards our objective, and if an examiner boards w/ us.....

[trailblazin]

Blockbuster...shareholders approve a reverse split.....


http://www.businessinsider.com/blockbuster-shareholders-ok-reverse-stock-split-2010-6

A

ssociated Press | Jun. 24, 2010, 7:12 PM | 3 |
DALLAS (AP) — Struggling video rental chain Blockbuster Inc. said Thursday that preliminary results show its shareholders approving a proposed reverse stock split that will enable it the shares to keep trading on the New York Stock Exchange

.

A ratio has not been set. But Blockbuster suggested a range between 1-for-15 and 1-for-25 in an earlier filing.

The shares fell 2 cents, or 5.3 percent, to 27 cents in after-hours trading Thursday after ending regular trading unchanged at 29 cents.

Shareholders voting at Blockbuster's annual meeting approved combining Class A shares and Class B shares into a single class of stock at a ratio of 1-for-1.

[ABIGIDIOT]

not to mention, you've been reported for a slight case of spamming. tsk.. tsk.

GO WAMUUUUUUUUUUUUUUUUUUUUQ !!!!

[ABIGIDIOT]

if i were you son, i would clean up your personal info, if you want any credibility. especially around here.

Favorite Quote Seeing this a 357 Magnum and could blow your head clean off you've gotta ask yourself..do you feel lucky, well do ya Clint Eastwood

[harbs]

strange, usually an event like that would move these q's nicely..been watching and nite seems to be collecting a bunch on bid..endless whacks there..definitely have alerts set jic..

[trailblazin]

very nice sidedraft, I'm going to keep an eye on that....

[sidedraft]

MBRKQ just got an EC appointed by the UST.

http://www.kccllc.net/MiddleBrook

[oilstrike]

SHIP. Holding around mid 1.20's range. Should and probably will be a steady LT gainer. DD to understand more.

[oilstrike]

KATX mining had a strong Friday close near HOD. Watch for a continuance Monday AM.

[fsshon]

Been watching it almost bought it the other day when it was 30% lower than its current price. Now it seems to have a ton of movement and just maybe they will avoid BK..

As for Fannie and Freddie "as long as the government has their hands in the pot, I prefer to defer if you know what I mean.

As for WAMUQ,, it is going to move into the 30's if she grants the examiner and then it will work its way upwards with small swings because of the manipulation. Eventually we will atract back the 100 mil share count buyers to prop us up..

Holding out hope for Justice !!! Good Luck

~Fish~

[Chiron]

FRE/FNM delisting, might be good buys when they hit the pinks. Keeping an eye on Blockbuster.

[fsshon]

Good Morning Guys.. Blockbuster looks to be tanking, don't know if there is any news, but ti is definitely in sell-off mode, down about 23% already. Been watching BBI for awhile now...

BP not paying the dividends in July is a bad-move for BP.. I don't see them entering Chap 11, unless they want to reorganize those liabilities on the oil cleanup and give most of the responsibilities to the government as they go through a pre-packaged BK..

~Fish~

[Bizreader]

ABK -

(Track Notes) Ambac Jumps 8%, Seeks Negotiated Restructuring Through Prepackage
Ambac Jumps 8%, Seeks Negotiated Restructuring Through Prepackaged Bankruptcy



08:23 AM Eastern Daylight Time, 06/10/2010 (MidnightTrader) -- Ambac (ABK) is
up in premarket action after it said in a regulatory filing on Wednesday that
it may seek a negotiated restructuring through a prepackaged bankruptcy as
liquidity may run out before Q211.

In addition, senior debt holders of the company have formed a committee to
nudge ABK toward a prepackaged bankruptcy plan, Reuters reports.


Price: 0.699, Change: +0.053 , Percent Change: +8.13

eom

[ABIGIDIOT]

as much problems as BP has, dont expect them to file. in my view highly, highly doubtful. dont forget, they have extensive asset base, and massive revenues, generated daily.


heres the next one to keep the eye on. could be some serious iron made here: ABK

thats right, ABK, not ABH!!!!!!


chee... cheee

[John Gyver]

That is what I am thinking.... but if the Government is involved in the take down it may be even riskier. Watching and waiting...

[Gmenfan]

Will BP ( British Petroleum) be the next company to keep an eye on as far as bankruptcy is concerned?

[Gileon7]

VSTNQ
Up 85% on this news

Johnson Controls Expresses Interest in Acquisition of Visteon Interiors and Electronics Businesses
9:29 am ET 05/21/2010- PR Newswire
MILWAUKEE, May 21 /PRNewswire-FirstCall/ -- Johnson Controls, Inc. (NYSE: JCI) announced that it sent a letter yesterday to Visteon Corporation expressing interest in acquiring Visteon's interiors and electronics businesses. Johnson Controls is offering $1.25 billion in cash for the businesses, subject to due diligence, the execution of a definitive agreement and the approval of the Johnson Controls Board of Directors.

"We believe that Visteon's interiors and electronics businesses would be an excellent strategic fit with our Automotive Experience business," said Stephen A. Roell, Johnson Controls Chairman and Chief Executive Officer. "This acquisition would significantly expand our automotive interior technologies and capabilities. It would provide global scale and complementary products to our automotive electronics offerings. Importantly, it would broaden and deepen our global automotive customer relationships."

Visteon interiors and electronics businesses are leaders in the fast-growing Chinese automotive interiors industry. Johnson Controls, with 23 joint ventures and 40 manufacturing facilities in China, is the leading provider of automotive seating systems. In China, both Visteon and Johnson Controls do business primarily through non-consolidated joint ventures. With the addition of Visteon's operations, Johnson Controls Automotive Experience consolidated and non-consolidated revenues in China could exceed an estimated $7 billion in 2011.

Visteon's major customers and Chinese joint venture partner support the transaction, according to Johnson Controls. The company said it believes its offer would provide superior value to Visteon's stakeholders and that it could move quickly, assuming Visteon's cooperation. It also said it expects the acquisition would have meaningful cost synergies.

Johnson Controls initially contacted Visteon regarding its interest in the interiors and electronics businesses in January 2010 and made subsequent contacts on May 7 and yesterday. No other terms or details of the proposed transaction have been disclosed, pending customary due diligence and negotiations. Wachtell, Lipton, Rosen & Katz and JPMorgan Securities have been retained by Johnson Controls to assist in the transaction.

Forward looking statement: Johnson Controls, Inc. ("the Company") had made forward-looking statements in this document pertaining to its financial results that are based on preliminary data and are subject to risks and uncertainties. All statements other than statements of historical fact are statements that are or could be deemed forward-looking statements and included terms such as "outlook," "expectations," "estimates," or "forecasts." For those statements, the Company cautions that numerous important factors, such as automotive vehicle production levels, mix and schedules, the strength of geographic economies, currency exchange rates, cancellation of or changes to commercial contracts, the ability to complete proposed acquisitions, as well as other factors discussed in the Company's Form 8k (filed March 9, 2009) could affect the Company's actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the Company.

Johnson Controls (NYSE: JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 130,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/.

SOURCE Johnson Controls, Inc.

[Bizreader]

Thank you for the update and report. Thus goes that BK.

Investors be warned...

[Kristallweizen]

CTDBQ (.027 -46%) Wins Court Approval of Reorganization Plan
May 18, 2010, 12:04 AM EDT

May 18 (Bloomberg) -- Citadel Broadcasting Corp., the third-largest radio station owner in the U.S., won court approval to exit bankruptcy over the objections of shareholders who said the company is worth more than executives and bankers assert.

U.S. Bankruptcy Judge Burton Lifland in Manhattan said yesterday he will sign a confirmation order approving Citadel’s reorganization plan. He overruled objections by the shareholders.

“The debtor has met the burden of confirmation,” Lifland said at the close of a nine-hour hearing in New York that centered around the subject of the valuation of the company’s worth.

Shareholders led by Aurelius Capital Partners LP opposed the plan, saying that bankers valued the company too low, thus denying owners of stock any recovery on their investment. Lazard Ltd., Citadel’s banker, used the company’s earnings projections to arrive at a valuation showing the company is worth less than its debt.

Citadel, based in Las Vegas, filed for Chapter 11 protection from creditors in December, saying the recession “put a chokehold on advertising spending,” its main source of revenue.

The reorganization plan will give holders of $2.14 billion of secured debt a new $762.5 million loan and 90 percent of the shares of the reorganized company. Holders of unsecured claims will receive the remaining 10 percent of the stock and $36 million in cash. Equity holders will receive nothing.

Packed Courtroom

More than 55 people packed the Manhattan courtroom yesterday for the second of a two-day confirmation hearing during which Lifland heard testimony from bankers, analysts and Citadel’s top executives about the fairness of the valuation.

Lifland refused to delay the hearing on the confirmation, after he denied opponents a chance to have an expert witness testify.

He refused to allow testimony from a professor of finance who planned to testify about the valuation of the company. Lifland agreed with Citadel’s lawyers that the witness didn’t have expertise in valuations of broadcasting companies.

“We’re dealing with the radio industry sandbox and there are a lot of nuances in that sandbox,” Lifland said. “There is no nexus between his credentials and the subject matter of his testimony.”

Allan Brilliant, a lawyer for Aurelius, had asked the judge to postpone the rest of the hearing to give shareholders time to come up with new expert testimony about the valuation. The judge gave them one hour.

Industry Analyst

Christopher Ensley, a former radio industry analyst at Bear Stearns who testified for Aurelius earlier yesterday, was asked by Brilliant to develop an opinion on Citadel’s valuation during that recess and take the stand again.

Upon returning from the recess, Brilliant asked the judge to adjourn the hearing until the end of the week to give Ensley more time to calculate the valuation.

“It’s not fair for Mr. Ensley to prepare this valuation in one hour in the hall,” Brilliant said.

The judge denied the request for extra time.

The witness whom Lifland didn’t allow to testify was Gregg Jarrell, a professor at the University of Rochester.

Brilliant said he had no comment when asked if Aurelius would appeal the ruling confirming the plan.

Low Projections

Aurelius argued that a recovery in radio advertising indicates that Citadel’s projections for earnings and revenue this year are too low.

Citadel updated its projection for 2010 Ebitda -- or earnings before interest, taxes, depreciation and amortization - - after a better-than-expected first quarter. Lazard increased the company’s valuation to reflect that higher Ebitda estimate. Lazard values the company at $1.91 billion to $2.165 billion, with a midpoint of $2.04 billion, less than its $2.28 billion in secured and unsecured claims.

“These are our best estimates as we understand them,” Farid Suleman, the company’s chief executive officer, said in court May 12. He raised the Ebitda estimate for 2010 to $232.4 million after the first quarter from about $210 million in February.

Suleman “has been very credible in his testimony,” Lifland said.

‘Glad It’s Over’

“We’re glad it’s over and we can get on with running the company,” Suleman said in an interview after the judge’s ruling.

Aurelius and two other shareholders, Virtus Capital LLC and the Kenneth S. Grossman Pension Fund, argued that the updated projections are still too low. Aurelius valued Citadel at $2.6 billion.

“What testimony has shown is we have an industry recovery and Ebitda is rising quickly,” Steve Gidumal, co-founder of Orlando-based hedge fund Virtus, said in an interview. “Now there’s testimony that the Lazard banker spent only 45 minutes vetting the increased projections by the debtor.”

Louis Zachary, the Lazard banker who supervised the Citadel valuation, said in court May 12 that he “had ample justification that management’s projections were appropriate.”

Zachary also said the bankers had received no offers from investors to buy Citadel since some expressions of interest last summer when the company was looking to either restructure its debt or be acquired.

17.3 Million Shares

Aurelius bought 17.3 million shares of Citadel beginning on March 30 for $1.35 million, Citadel said in court papers, with the stock trading at pennies.

Citadel owns 224 radio stations in cities including New York and Chicago and distributes programming to 4,000 stations. The company added $2 billion in debt when it acquired the ABC radio stations and network from Walt Disney Co. in 2007.

The largest radio station owner in the U.S. is Clear Channel Communications Inc. and the second-largest is CBS Corp.’s radio unit.

The case is In re Citadel Broadcasting Corp., 09-17442, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

--Editors: Michael Hytha, Peter Blumberg.

To contact the reporter on this story: Don Jeffrey in New York at [e-mail].

To contact the editor responsible for this story: David E. Rovella at [e-mail]

[Gileon7]

Right now, the motion for an official equity committee has been denied. That does not mean that another motion cannot be filed in the future. If I am not mistaken it took three tries for CEMJQ to get an equity committee.

In my mind there is something that the HF's will have in their arsenal, something they may be aiming for. Possibly a replacement of the BOD. It is by far a long shot, but still a distant possibility.

Pursuant to § 362 of the Bankruptcy Code, the filing of a bankruptcy petition invokes the automatic stay, which generally prevents the continuation or commencement of actions against the debtor that were or could have been brought prior to the entity’s filing for bankruptcy, including those actions to obtain possession of or "exercise control" over the debtor’s property. In so doing, the automatic stay affords a debtor entity a breathing spell from the financial and other pressures that drove it into bankruptcy.

Equity holders’ action to replace the board of directors of a corporation arguably is an attempt to exercise control over the assets of a debtor-corporation. Nevertheless, in order to ensure the adequate representation of equity holders in a corporate reorganization, courts have held that the power of an equity holder to vote its shares applies with equal force in bankruptcy proceedings as long as the actions of equity holders does not rise to the level of "clear abuse." Clear abuse requires a showing that equity holders’ actions demonstrate a willingness to risk rehabilitation in order to win a larger share for themselves. That equity holders’ actions are motivated by a desire to seize more bargaining power in the negotiation of a plan of reorganization, however, does not constitute clear abuse, due to the relatively little power that equity holders are given in bankruptcy proceedings.

[Bizreader]

So, the EC possibility is still on the table with VSTNQ?

[Gileon7]

VSTNQ The judge's(Sontchi) attitude about all of the motions from equity can be summed up with these lines:

“We are in a good old-fashioned brawl,” Sontchi said. “The prize is an auto company.”

He added, “There is going to be a fight, so let’s get to it.”

When discussing the shareholders claim that the company is solvent and that common shares should not be canceled the judge stated
"That claim should be resolved when the reorganization plan comes to court for approval, Sontchi said.

[Bizreader]

Thanks for the update. Do you happen to know on what grounds the judge disallowed the EC? TIA

[Gileon7]

VSTNQ commons took a beating in court yesterday. Judge ruled against the Official Equity Committee and the examiner, ruled for exclusivity extension. There will be a bounce after the dip at open. But when and where that bounce will occur is still a mystery to me.

[Bizreader]

Thanks for the heads up here on VSTNQ!

[Gileon7]

VSTNQ

The US Trustee has approved an examiner who will hopefully get to the bottom of the huge difference in asset values between the ad hoc EC and the debtors. Should open with a gap up in the morning.

[Bizreader]

I put it in the ibox. Thanks Fish!

[fsshon]

I found an interesting BK site

http://bkinformation.com/news/dailynews.htm

[Gileon7]

VSTNQ closed yesterday @ $1.49 set to open today @ 1.80

[Gileon7]

VSTNQ, 1st Quarter Released

•Product sales of $1.85 billion, up 43 percent from first quarter 2009
•Net income of $233 million
•Adjusted EBITDA of $161 million, up $139 million from first quarter 2009
•Cash generated by operating activities of $40 million, a $315 million year-over-year improvement
•Cash balances of $1.1 billion

Last two quarters, nearly a half billion Dollars in profit, nearly $4 per share.

[Bizreader]

Thanks for the heads up. Here's news: http://pics.newsware.com/getDoc.asp?number=73153&date=11436

eom

[Gileon7]

VSTNQ 5,000,000 share trade just went through that is nearly 4% of the outstanding. It was followed up by a nearly 400,000 share trade. Those two trades were over 4%.

[KaraokeSinger]

I took your suggestion and have 204 shares. When everything is over I'd like to donat 10% of the profits (post tax) to your favorite charity.

[ABIGIDIOT]

wow.... tough call the way the four of em you chose are currently.

ABIGHAMMER rolls with WAMKQ.

I have 200 that I can either place on black or put in one stock. Which one of the three should I do?


1) Bet it on black
2) WamuQ
3) MesaQ
4) LehmQ
5) WAMKQ

[KaraokeSinger]

I have 200 that I can either place on black or put in one stock. Which one of the three should I do?


1) Bet it on black
2) WamuQ
3) MesaQ
4) LehmQ

[uzualsuzpect]

DIMEQ closed at .48 and HOD of .52

Got Parlay? first alerted the board on January 28, 2010

[Bizreader]

KirstenGrind

Shares of #Frontier Financial skyrocket Monday, possibly because of traders betting it might fail: http://bit.ly/dDoQmk

[Bizreader]

THMRQ now up 13% trying to catch up with the rest of home building stocks.

[Bizreader]

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49392382

[Bizreader]

http://investorshub.advfn.com/boards/board.aspx?board_id=14122

[Bizreader]

A bank Q http://ih.advfn.com/p.php?pid=squote&symbol=CBCGQ

What is this all about?

eom

[uzualsuzpect]

DIMEQ was at .06 a lil while back ~ .42 now

Look's like it has been churning north for a while ~

[Gileon7]

Big things going on with VSTNQ. New players submitted motion for official committee for Equity HOlders.

www.kccllc.net/documents/0911786/0911786100416000000000005.pdf

[Rumble]

I'll be there next Sunday! Today I'm certainly celebrating the end of the tax season, and re-entering life again!

I'm a little bummed about all of the bashing of WAMU in the hearings, but I had a feeling that was part of the game, shift blame and focus onto Wamu and away from the big banks who have skated away with boat loads of wealth (even if they pay up big time).

Part of me thinks this was a strategic scheduling with some lobbying by the JPM crew to coordinate with this period to help further drive down and control share price. Maybe I'm just being to conspiritorial, but I'm learning there is a whole other power game at play, and WMI is just one piece of the pie.

[Bizreader]

Yeah! Well, April 25th is next weekend and we may be meeting up in Seattle! Let's hope it's to celebrate!

[Rumble]

I've survived tax season! Yeah

Now I'm looking for WMI to make a move, and get onto Parley for real.

[Bizreader]

Ouch, but true!

LOL

[trailblazin]

yep....in order for it to be a true "parlay" we need one of our original picks to wrap up lol....then things will pick up considerably here as we look for an ideal candidate for wave number two....