Spectrum Brands Holdings Inc (SPB)

[edwards]

had to work off that lunch before running again ;->

[cim bom]

still holding strong here. it will make another run before the day is over

[edwards]

anchor about to be pulled aboard, rev up the steam room

[cim bom]

it looks like its ready to steam ahead now fellas

[edwards]

yep, need that breath of O2 for full final ;->

[cim bom]

thats for sure. she is just getting a little breather for the big sprint

[edwards]

a little consol on the 7's

good for final eod sprint

[edwards]

leg to 10 looks well within the cards today


weee

[cim bom]

here we goooo

[edwards]

able collecting on bid


he's always good for another leg up

[edwards]

5 min chart setting up for 3rd leg


weeee

[cim bom]

third leg should take us over .1 and eod run will be crazy

[edwards]

yep,


lottos shorts gonna be covering

[cim bom]

we will be over .10 today and a big gapper on monday yeeeee

[nsomniyak]

SPCB's reorganization plan was approved by the bankruptcy court. That plan provides nothing for common shareholders. Might change, but the baseline now is that common will be wiped out.

[edwards]

7's coming..will be showing on radar soon

[edwards]

getting attention

got some legs on this puppy

[edwards]

looking for shorts to drive this


into %trip digits% today


50% retrace back to .15 looks appropriate imo

[cim bom]

shorts are starting to cover now. this thing is gonna make a huge run here

[cim bom]

this thing will rebound back into .15 to .2 range in few days

[BRS0903]

Just curious, does anybody know why the pps tanked so hard in one day yesterday?

[silverstreak57]

Shares will not be cancelled until they prepare to exit from BK in August. Until then, speculation will take this for a few wild rides I suspect. In at a nickel for a few shares.

[jimham11]

Aaaah!..no guts..too risky with cancellation at any moment! Had my finger on the buy-button for an hour, but no guts, especially late in session and going into a friday with traders usually out of the market early.

Good luck to you guys with the 'big ones'!!

[Zurke]

If you know the BK that SPCB wanted, you know that all common shares would be wiped out, gone, poof. The court has decided in favor of the BK as SPCB wanted it. As far as I can tell it will be worthless come august.

I cannot say whether anyone will be playing this or not. So it may hook up with .10 before it goes poof. I see an 84% drop today after the news. It does take buyers to sell what one is holding.

To stay in SPCB at this point is for those who have insight and those who love living on the edge.

[DumpOnUrPump]

Don't be left holding the bag of *%#$

[Megafauna]

HOW low will this go??? I thought getting it at .05 was a good deal and I was hearing it's going to .10 very soon so WTF is going on???

[Zurke]

And to think I was kicking myself when I got out @ .08 a couple of months ago. Sorry to hear the bad news and I honestly find it incredible that the courts decided in favor of this plan. Considering the assets they have shareholders should have gotten something.

Well I hope they are cheap when they come out in august.

[silverstreak57]

SPCB will still trade until August when they emerge from BK. That is when the shares will get cancelled, now now.

[DumpOnUrPump]

thank you

[Cordog1356]

HERE ARE THE DETAILS OF SHARE CANCELLLATION!!!!

http://www.spectrumbrands.com/communication/pdf/Investor_FAQ_3pm.pdf

[DumpOnUrPump]

So the share holders get ZERO?

[gckitty]

Spectrum Brands Receives Court Approval of its Plan of Reorganization

Spectrum Brands today announced that the Honorable Judge King of the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, has approved the company’s Plan of Reorganization and will enter a confirmation order upon submission. Following entry of the confirmation order, the plan will become effective -— and the company will exit bankruptcy protection -— as soon as all closing conditions to the Plan, including the closing of the company’s exit financing, have been met. Spectrum Brands expects to emerge from Chapter 11 in August.

Kent Hussey, Chief Executive Officer of Spectrum Brands, said: “We are pleased that our Plan of Reorganization has been approved by the Court, a key milestone in our financial restructuring process, and one that sets the stage for our exit from bankruptcy in August. When we emerge, we will have reduced our subordinated debt by $840 million and eliminated approximately $60 million of annual cash interest expenses for at least each of the next two years. We will emerge with a stronger balance sheet that will better position us to maintain and strengthen our current platform and to pursue opportunities to grow our company.”

On February 3, 2009, Spectrum Brands and its U.S. subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division. The main case number is 09-50455. The Company’s non-U.S. operations, which are legally separate, are not included in the Chapter 11 proceedings.

Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially as a result of (1) risks that the bankruptcy cases disrupt current plans and operations; (2) risks that the Company's businesses could suffer from the loss of key customers, suppliers or personnel during the pendency of the bankruptcy cases, (3) risks that the Company will be able to maintain sufficient liquidity for the pendency of the bankruptcy cases, (4) risks that the Company will be unable to successfully close the exit financing, (5) risks that changes and developments in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (6) changes in consumer demand for the various types of products Spectrum Brands offers, (7) unfavorable developments in the global credit markets, (8) the impact of overall economic conditions on consumer spending, (9) fluctuations in commodities prices, the costs or availability of raw materials or terms and conditions available from suppliers, (10) changes in the general economic conditions in countries and regions where Spectrum Brands does business, such as stock market prices, interest rates, currency exchange rates, inflation and consumer spending, (11) the Company’s ability to successfully implement manufacturing, distribution and other cost efficiencies and to continue to benefit from its cost-cutting initiatives, (12) unfavorable weather conditions and various other risks and uncertainties, including those discussed herein and those set forth in Spectrum Brands’ securities filings, including the most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Spectrum Brands also cautions the reader that its estimates of trends, market share, retail consumption of its products and reasons for changes in such consumption are based solely on limited data available to Spectrum Brands and management’s reasonable assumptions about market conditions, and consequently may be inaccurate, or may not reflect significant segments of the retail market.

The Company also cautions the reader that undue reliance should not be placed on any forward-looking statements, which speak only as of the date of this release. Spectrum Brands undertakes no duty or responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this release or to reflect actual outcomes.

About Spectrum Brands, Inc.

Spectrum Brands is a global consumer products company and a leading supplier of consumer Batteries, specialty pet supplies, shaving and grooming products, household and lawn insect and pest control products, personal care products and portable lighting. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world.

[DesertRat1]

Yes, action has been very good. Quick dips dont seem to last long and are on low volume.

[AKAPAK]

Last day in court(?) today and expect ruling by 2 July(?) from past info.

Getting some nice volume and price support last 2 days.

Hope it is a good sign.

[DesertRat1]

wow, cool. thanks. Unfortunatly I'm on vacation right now and cant call, but if you hear anything good let us know.

[chester314]

FYI - Per the court documents you can attend the hearing "telephonically" with the following call-in info:

Toll free dial-in: [phone]
Participant passcode: 222955

I recommend simply hitting "#" when asked to state your name so it does not interrupt the proceedings.

Also, hit *6 when you get on the call to mute your phone from their end (better than muting locally on your end but you can do both to be safe).

[DesertRat1]

Anyone at all able to attend the hearings? Would love to hear the inside scoop.

[AKAPAK]

SPCB - starrted court hearings y'day, expect to go on till 23 June; then judge to make decision first part of July (maybe berfore the holiday?) is my best opinion.

With GS and S/H Equity Committee fighting the BK's "prededetermined" cancel of the commons and SPCB's own "glowing" proformas, and the request for only a % of the company (for the commons), their seems a reasonable chance.

However, this is in a court, and we all know how justice is blind (to the truth) sometimes. :(

If it hits, the valuation offered by Committee is about $2.50, we could take a good jolt towards that number. :)

[cantgetmyname]

Any resolution to the share cancellation question?

[Samello]

Court calender says 10:00 A.M. San Antonio TX

[AKAPAK]

Big day (in court) today. Let's see if the Shareholder Equity Committee and Goldman Sachs can keep the commons.

[bman007]

test

[BIG BALLER]

could be a good flipper aye? 20-40ish then boooooom?

[BIG BALLER]

wait till you see the pics lol

[RonnieD]

wow i missed the run

they said this stock would be worthless

head fake

[BIG BALLER]

i helped you guys out today=i bought some of your Ray0vac batteries at the 99cent store lol

~>used them in my camera,,, pics soon come...,,,..tbc,,,..,,..stay tuned!

[BIG BALLER]

*i'm ready to see what Cindy has for us lol

[welderfred]

Ready to roll here also

[BIG BALLER]

>>>all the sudden huh?

[welderfred]

Glad to here from you buddy , have added a bunch of this getting ready for a big ride . Keep in touch please