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I think that guy is a pumper. He sent LEARQ to me yesterday as a new pick, not knowing that I knew he sent it out last week. Buyers from his first rec are probably using his second emailing to dump.
MicrocapMillionaires sent this one out about a week ago-I got out with about 20%-they have done well by me.Not holding freebies on this one-I think the commons will take it up the tailpipe-jmho.
so will this continue into tomo as well ya think?
no - not me. I know this company very well. They are going to cancel the common shares.
This jump is nonsensical.
hey atlanta.. Are you in this too? Pumped huh? Hmmm.. So ride the momo for the next few days and get out with a quick profit sounds good to me!!
pumped by a newsletter..
Maybe I can get some of my "investment" back.
wow.. whats happening here today??
you'll no when it hits .50
http://www.kccllc.net/lear
September 18, 2009
(10:00 a.m. ET)
Peeps looking for a favorable ruling from the judge today. Anybody know what time the hearing is set for?
even HAYZQ is getting a tiny percentage of the new issued HAYZ stock yet to be issued and is holding value. Their balance sheet was far worse. Moreover consider the European and Asian holdings of Lear Corp which are not part of the bankruptcy filing.
I do not like in the filing how it says Lear equity holders are "deemed to reject", however the Wall St. Journal said creditors would receive a large portion of the common and all the new preferred, but not all the common.
There is going to be value here - i don't think anyone except insiders to the court know how much they are working on.
If a reorganized Lear is worth say 2.5 billion, just 1% of that is 25 million on 77 million shares = .32/sh which is where we are.
LEARQ is in all likelyhood not going to go lower than this.
On Friday, auto-parts supplier Lear Corp. (LEARQ) will ask the New York bankruptcy court for permission to send its Chapter 11 plan to creditors for a vote.
Under Lear's Chapter 11 restructuring plan, the lenders would forgive their debt in exchange for a new $600 million term loan plus all of a reorganized Lear's preferred stock, valued at $500 million, and a substantial share of the company's new common stock.
Unsecured creditors, including bondholders owed $1.3 billion, would receive a chunk of Lear's common stock plus warrants allowing them to purchase an additional 15% of the company's shares. They are expected to recover about 43% on their claims.
Lear last month filed court documents indicating that its creditors would recover far less in a liquidation. According to an analysis prepared by Alvarez & Marsal, lenders would recover only 36% on their $2.3 billion in claims if the Southfield, Mich., company were to liquidate.
At Friday's hearing, Lear will ask the court to approve an outline of the plan, called a disclosure statement. The court must approve the statement before creditors can begin voting on the plan.
Lear, which makes automotive seats and electronics, filed for Chapter 11 bankruptcy protection on July 7.
Ill take it from anyone nice little raise in PPS
MicrocapMillionaires just pumped this one-probable reason for the jump in pps
your reply to my post totally disregarded the post you replied to
the post concerning a link to acquisition of stock
now we have 8 mil traded and up over 30% today
this is very interesting indeed
I wonder if the link is fake or real
seems at least questionable being something from google finances website for LEAR Corp stock
tomorrow is a significant court date for this one from what I read
judge is supposed to approve or deny the emergence plan
not sure how that can be done before an October vote
but that is what I read this week
"you absolutely ignored my one and only question"
I didn't ignore anything. You didn't ask a question, buddy..
Most of these BK stocks get cancelled. But that doesn't matter because shareholders can often get something out of the court case and this keeps the common going. Its still poised for a significant spike in the short term IMO depending on the court news.
Here's the ShortSqueeze info on insider positions- 5.63%
Lear Corp. $ 0.35
LEARQ 0.09
Short Interest (Shares Short) 1,269,900
Days To Cover (Short Interest Ratio) 0.5
Short Percent of Float 1.66 %
Short Interest - Prior 3,351,900
Short % Increase / Decrease -62.11 %
Short Squeeze Ranking™ -1
% From 52-Wk High ($ 15.02 ) -4191.43 %
% From 52-Wk Low ($ 0.20 ) 44.29 %
% From 200-Day MA ($ 0.75 ) -114.29 %
% From 50-Day MA ($ 0.28 ) 20.00 %
Price % Change (52-Week) -98.00 %
Shares Float 76,470,000
Total Shares Outstanding 77,521,230
% Owned by Insiders 5.63 %
% Owned by Institutions 27.70 %
Market Cap. $ 27,132,431
Trading Volume - Today 4,189,363
Trading Volume - Average 2,577,000
Trading Volume - Today vs. Average 162.57 %
Earnings Per Share -13.37
PE Ratio
Record Date 2009-SepA
I gave you the link to the filings.
The management is selling, not buying. The common is going to be cancelled.
Yes, totally irrelevant. This stock could soar on news out tomorrow from the courts.
This business on insider buying is intriguing. Any suggestions on researching it without buying the report?
Is it possible this post was pulled because of some kind of legal issue?
that is irrelevant to my question
and still, what about the news link from google finances website I provided?
you absolutely ignored my one and only question
all I want is some dialouge
not investing advice
they have been SELLING stock - look at the SEC filings.
They stock is going to be CANCELLED
http://moneycentral.msn.com/investor/sec/filing.asp?Symbol=LEARQ
[00173] LEAR DIRECTORS AND OFFICERS REPORT ACQUISITION OF STOCK
google finance has removed the post twice
not sure why since they supplied the information!
here is the link from the finance.google / learq board
http://www.emailwire.com/release/27079-LEAR-Bankruptcy-News-Issue-No-9.html
[00173] LEAR DIRECTORS AND OFFICERS REPORT ACQUISITION OF STOCK
why is this on the LEARQ board?
BK traders READ THIS this is the first BK company that I have found that acknowledges shareholders value. Look at $SSCCQ a .02 to .70 in 8 months a 35X run. Same industry, great revenue with the desire to protect shareholder value. I hold LEAR, but this could be great from autos.
LEARQ reorganization plan
http://www.sec.gov/Archives/edgar/data/842162/000095012309035936/0000950123-09-035936-index.htm
"Creditors have until Oct. 23 to decide whether to support or oppose the plan. Lear’s current shareholders, whose stakes would be wiped out under the plan, aren’t allowed to vote on it. "
http://www.bloomberg.com/apps/news?pid=20601127&sid=amSn2cM2tAWA
not only could a judge say you made up for lost profits in 3rd and 4th qtr
a vote could also save common
just saying - why vote if already decided on?
Maybe the judge will not allow lear to stiff the share holders.
We have until November 2 and I would'nt be surprised if they had to do some revisions on their plan. I still think this will at least go to .50 cents a share. So don't panic folks we have a little over 2 months untils that date that's along time in BK land!
Damn, that sucks. Have to be careful playing Q stocks.
If the judge approves their proposal on November 2, 2009 how long after that date would they emerge from Bankruptcy? Also what are the odds that after that date if goes for a couple of more monthes because they have to ammend things on their proposal?
you'd suspect??
It's right there for you to read - it's a fact.
I'd suspect current share structure will be discontinued.
7. Class 7A-1—Equity Interests in Lear Corporation
(a) Classification : Class 7A-1 consists of all Equity Interests in Lear Corporation.
(b) Treatment : Holders of Equity Interests in Lear Corporation will not receive any distribution on account of such Claims, and Equity Interests in Lear Corporation shall be discharged, cancelled, released, and extinguished as of the Effective Date.
(c) Voting : Class 7A-1 is Impaired, and Holders of Class 7A-1 Equity Interests in Lear Corporation are not entitled to receive or retain any property under the Plan on account of Class 7A-1 Interests in Lear Corporation. Therefore, Holders of Class 7A-1 Equity Interests in Lear Corporation are deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code, and Holders of Class 7A-1 Interests in Lear Corporation are not entitled to vote to accept or reject the Plan.
Correct you are, it's right there in black & white.
I'm not sure why those that can short these pennies aren't all over this one. They are guaranteed 100% profit.
Auto news | Ford | GM | Chrysler | Auto Shows
Posted: Aug. 18, 2009
Lear aims to convert $1.6 billion of debt to stock
FREE PRESS
Lear Corp., the Southfield-based automotive seatmaker that filed for bankruptcy last month, plans to convert much of its debt into stock to help bring the company out of Chapter 11 protection.
The company, in court papers filed Friday, said it plans to convert $1.6 billion in debt owed to its lenders into a 26% stake of Lear common stock.
Lear filed for bankruptcy protection in July after the supplier racked up too much debt amid falling revenue. But Lear's high debt level breached the terms of its loan agreements.
Lear entered bankruptcy with the goal of cutting its debt and a bankruptcy plan that already had the support of half of its bondholders and 68% of its lenders.
In the plan, detailed in court documents, Lear's unsecured creditors would be compensated through a combination of stock in the new company and warrants to buy new shares.
Some unsecured claims will be paid in full. Some others will be paid at 43 cents on the dollar.
Lear's current common stock will be canceled. New publicly traded stock will be issued after the company emerges from bankruptcy protection. Holders of current shares will receive nothing.
Creditors will have until Oct. 23 to vote on the plan. A hearing on the plan is slated for Nov. 2.
Lear Corp has Preferred Stock? I can't find it anywhere on google or yahoo for the symbol..
please advice.
Sell-IF Americanbulls. Highly reliable candlestick pattern.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=LEARQ&MarketTicker=OTC&TYP=S
So,I wonder what their report to the court will be on the 25th?
Auto suppliers under bankruptcy protection
Aug 14, 7:20 PM (ET)By The Associated Press
Auto parts supplier Visteon Corp. has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers.
Judge Christopher Sontchi said Friday that he needs time to consider the evidence and arguments.
While the Van Buren Township, Mich.-based company acknowledged that cutting off the benefits would cause hardship for some people, it claims the benefits are one of its largest liabilities and keeping them in place would make it tough for the company to reorganize.
Here’s where the bankruptcy cases of other auto suppliers currently stand:
DELPHI CORP.: The Troy, Mich.-based supplier, which filed for Chapter 11 protection in October 2005, won permission in March to stop providing health care and insurance benefits to its salaried retirees. More recently, Delphi received court approval to emerge from bankruptcy protection by handing control of the company over to its lenders in exchange for debt forgiveness. The company is expected to emerge from court protection by Sept. 30.
LEAR CORP.: Lear Corp. filed for bankruptcy court protection in New York in July. Its next hearing is set Aug. 25.
Just a snap shot of the industry. Hopefully the effect will be positive for Learq as well.
So that should benefit Learq?
NEW YORK (Dow Jones)--Projects spurred by the U.S. government's economic stimulus program will start picking up soon, after a number of months in which work was actually held back by the prospect of government funding, Johnson Controls Inc. (JCI) Chief Executive Stephen Roell said Friday.
Many government institutions earlier this year delayed plans to develop new facilities and retrofit others until they could learn whether stimulus-related funds might be available, said Roell, whose company manages buildings' heating and air conditioning systems, as well as supplies parts to auto makers.
That pent-up demand is starting to unwind, however, and Roell expects to see a wave of projects awarded over the next nine months, with work starting shortly thereafter.
bollies tight on the 60min. chart. Hard breakup or down comin' soon to a theatre near you.
I concur...bounces off of .30...as long as it stays above .30, we are good...breaks .32 could fly. I think it has another leg up in her on this run. Enough selling today to get people out holding under .30 who may come back in as its only sitting at .48 on the rsi. It breaks .50 and holds...could go for a nice run up IMO.
GLTA...
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Lear Corporation (Lear) is a global tier I supplier of automotive seat systems, electrical distribution systems and electronic products with a global footprint that includes locations in 36 countries worldwide. The Company business is focused on providing complete seat systems and the components thereof, as well as electrical distribution systems and electronic products, and the Company supply every automotive manufacturer in the world. In 2008, the Company sales were comprised of vehicle categories: 65% cars, including 28% mid-size, 22% compact, 13% luxury/sport and 2% full-size, and 35% light truck, including 21% sport utility/crossover and 14% pickup and other light truck. The Company conducts its business in two product operating segments: seating and electrical and electronic. In April 2009, The Furukawa Electric Co., Ltd. acquired interests in Lear Furukawa Corp. from Lear Corporation. As of April 22, 2009, The Furukawa Electric Co., Ltd. owned 80% interest in Lear Furukawa Corp.
Company Overview
Lear was founded in 1917 in Detroit as American Metal Products, a manufacturer of tubular, welded and stamped assemblies for the automotive and aircraft industries. Lear has grown to meet the changing needs of the industry with 18 major acquisitions since 1994, when Lear went public.
Today, the company provides complete seat systems, electronic products and electrical distribution systems. With annual net sales of $13.6 billion in 2008, Lear ranked #157 in 2008 among the Fortune 500. The company's world-class products are designed, engineered and manufactured by a diverse team of 80,000 employees at 210 facilities in 36 countries. Lear's headquarters are in Southfield, Michigan, and Lear is traded on the New York Stock Exchange under the symbol [LEA].
The success of Lear is a result of our dedication to provide the best possible service to the world's automakers - which includes understanding their customers, the automotive consumer - by delivering increased value through the latest vehicle interior technologies and the continuous improvement of our processes and product quality. All of this is reflected in Lear's exclusive People-Vehicle-Interface Methodology. By utilizing the PVI Method, Lear employs an innovation development discipline that turns market opportunities into the products that consumers want and customers need in their vehicles.
Short Interest (Shares Short) | 5,488,800 |
Days To Cover (Short Interest Ratio) | 0.5 |
Short Percent of Float | 7.20 % |
Short Interest - Prior | 3,062,200 |
Short % Increase / Decrease | 79.24 % |
Short Squeeze Ranking™ | -3 |
Short interest has increased here.Updated May 28th 2009
May 23, 2009 (Wall Street Horizon via COMTEX) -- LEA | Quote | http://charts.powerratings.net/prcharts/?src=prchartl&sym=LEA");" rel="nofollow">Chart | News | PowerRating -- e>Lear Corp. (LEA)
Expected next earnings release: Announcement date: 7/29/2009 - Before Market Earnings Quarter: Q2 Announcement Status: Unconfirmed
NEWS
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http://www.wwj.com/These-Lear-Seats-Were-Something-Else-Before/4470780
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