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I'm trying to find out how many outstanding shares, do you know?
Re: Asset sale or equity swap 54 minutes ago Say what you want, and maybe they are trying to make it look like they are in your corner; you can bet you hind end, they are not. They wanted{IMO} to start a run and did; and do you stay in that case or go{waiting till the run is over and the pps diminished}, or get out while there is something left? That is exatly the dillema they created and succeeded; I am afraid it's not over either. By the way I spoke with that lady on the phone; It didn't sound like she was trying to hard to convince any one that there was going to be an equity committee, ot that they were really trying to get one established. I personally think it WAS a scare tactic,{a well orchistrated one.} Rating :
(No ratings)
I might buy back in @, ohh, ...what some one said earlier .86
I gonna load up some more in the morning , and pass the word on to everyone!!!
Once again, I had forgotten that I aske you about other investments, MY BAD ! Thanks , I'll check it out !
I'm sorry, I don't know what BBDA means. You didn't lose money with the reverse split, just the multiplier factor , right?
have got any other investments your looking at?
that would be very kind of you.
The website does say 10,000,000 authorized; I just checked back. How can they go to 10 billion from there? I wouldn't think they would want to after doing reverses. I can understand where you're coming from though. The pps must not have been very much when you bought in , was it? It looks to me like it just took off after this latest PR.
appreciate the info; you don't think with this latest PR that it's going to launch finally?
I thought I just read that there is only 10 million shares now. Is that the correct possible numbe{ after the revers split}?
ouch!, How long ago was the reverse split?
Hello out there, I jumped. Guess every one is new here? Looks promising! Only 10 million outstanding shares? I'm ready to go all in on this baby. All the PR , web site, etc. look very professional. I may even try to get a job with them!
I am willing to help. I went and talked to our system administrator about my problem with Outlook Express;sometime Thursday he can help me.
I've never looked in that mailbox before! Only one problem Chemtura has recently updated to a system called citrix which is some what of a joke. Ever since, I haven't been able to get in my office outlook, to access my own company e-mails. I'm going to see what I can to to correct that issue.
you got the wrong post, I'm not chemicals 21, but if you post a link. I'll see what I can do.{ A link to a form letter, with the Courts address etc. ,all that info, I could forward to all employees.
you got the wrong post, I'm not chemicals 21, but if you post a link. I'll see what I can do.{ A link to a form letter, with the Courts address etc. ,all that info, I could forward to all employees.
Not, sorry, just correcting a statement I made last night. I don't appreciate people saying that I don't know what I'm talking about. P.S. Biolab leases office space out at their Headquartes also.
FYI:Bromine delivery @ Biolab Adrian just confirmed to me that the West Plant in Eldorado Ark.lost the business the {Proctor and Gamble} which was about 90% of their deliveries. Evidently the product will be made in China. { this is the second driver with the same story}, I was incorrect when I relayed the massage as {Colgate Palmolive}.
Look, and Thankyou. It doesn't matter what you and I know, does it, when thousands of people get letters stating in what looks to be a very "official" statement written in a way that says you may lose evey thing? I was just kindly letting you all know what is going on, and like it or not, it could cause a flurry among the less informed. You know that fidelity will sell off after hours/at close. I'm not going to keep posting about this; I have had more than one trading account with cemjq in it and plan on riding to the end. Our best asset is knowelege of whats going on. I think that also I could have handled the letter differently and try to ask advise about it on this board also. I didn't think it should be shrugged off, but perhaps I just should haven't even mentioned it? It looked as though the selling pressure was mounting at the EOD, and you and I both know what happened with the MC frenzy. I left work at $1.20 and by the time I got home, .81 ! Any way , I've always believed that Cemjq recovery is going to parallel Pilgrims Pride.GLTA
FIDUCIARY COUNSELORS INC.
700 12th Street NW • Suite 700 • Washington, DC 20005 • phone (202) 558-5130 • fax (202) 558-5140
October 14, 2009
To: Plan Participants and Beneficiaries in the Chemtura Corporation Employee
Savings Plan
Re: Chemtura Stock in Your Plan
As you know, Chemtura Corporation filed for bankruptcy protection under
Chapter 11 of the Bankruptcy Code on March 18, 2009. The Administrative
Committee of the Chemtura Corporation Employee Savings Plan (the “401(k)
Plan” or “Plan”) subsequently retained Fiduciary Counselors Inc. to (1) represent
the interests of the Plan’s Company Stock Fund (the “Fund”) in the bankruptcy
and (2) sell the Chemtura stock held by the 401(k) Plan if we determine that
continuing to hold Chemtura stock is no longer prudent and in the best interest of
Plan participants. The purpose of this letter is to explain our role, describe the
current restrictions in place with respect to the Fund, and update you on
developments in Chemtura’s bankruptcy related to the Fund.
Recently, the selling price of Chemtura stock has risen and Chemtura has
announced its intention to emerge from bankruptcy early in 2010. While these
appear to be positive indicators, there remains a significant level of risk associated
with investments in the Chemtura stock. We have asked for the appointment of an
Equity Committee to represent the interests of shareholders, including your 401(k)
Plan, in the bankruptcy. In opposing our request, Chemtura and the Unsecured
Creditors Committee have stated that they do not believe that there will be any
recovery for existing shareholders when Chemtura reorganizes. Thus there is a
significant risk that the existing Chemtura stock will be cancelled even if
Chemtura successfully reorganizes and the Chemtura stock held by the
401(k) Plan will be worthless.
Effective March 30, 2009, before our appointment, the Fund was closed to new
investments. Fiduciary Counselors does not have the authority to reopen the Fund
but we do have the authority to sell Chemtura stock held by the Plan if we
determine that continuing to hold that stock is no longer prudent.
Fiduciary Counselors Inc.
October 14, 2009
Page 2
On May 5, 2009, also before our appointment, the bankruptcy court approved an
order restricting sales of Chemtura stock by any shareholder that holds more than
5 million shares. Unfortunately, the result of the order was that you would have
been precluded from selling the Chemtura stock in your Plan account, since the
Plan holds over 11 million shares At our request, and utilizing the procedure set up
by the bankruptcy court at the time it issued its order, Chemtura waived those
restrictions for the Plan. Therefore, you remain free to sell the Chemtura stock in
your Plan account if you so choose.
Here are some things you should know in considering whether and when to sell
the Chemtura stock in your Plan account:
• Although a company may emerge from bankruptcy as a viable entity,
generally the creditors and the bondholders become the new owners
through newly-issued common stock and owners of the existing stock get
little or nothing. In most instances, the company’s plan of reorganization
will cancel the existing stock. If that happens in this case, your Chemtura
stock would become worthless. The SEC has an excellent primer for
investors on what happens to stock and other securities in a bankruptcy,
available online at http://sec.gov/investor/pubs/bankrupt.htm.
• The Company Stock Fund is structured as a “unitized” fund. That means, if
your Plan account is invested in the Company Stock Fund, you own “units”
of the Fund rather than actual shares of Chemtura stock. The Fund holds
shares of Chemtura stock and cash investments. Each unit of the Fund
represents both a proportionate interest in Chemtura stock and a
proportionate interest in the cash investments. The amount of cash
investments held by the Fund varies daily, based on a number of factors,
such as the price of Chemtura stock and the Fund’s liquidity needs. As a
result of cash held in the Company Stock Fund, the Fund does not provide a
one-for-one gain or loss in value when the value of Chemtura stock
increases or decreases. The cash component generally provides liquidity to
allow you to transfer out of the Company Stock Fund on a daily basis.
• If we determine that the Plan is unlikely to obtain any significant recovery
in the bankruptcy or is likely to receive less than the price at which the
stock is selling, we have the authority to protect the interest of participants
and beneficiaries by directing the Trustee to sell more shares of Chemtura
stock than would ordinarily be sold as a result of participant direction, or
even to liquidate the Company Stock Fund entirely. You should know that
if we sell Chemtura stock the cash investments held in the Company Stock
Fund will increase and that will cause the Fund to perform differently than
Fiduciary Counselors Inc.
October 14, 2009
Page 3
the stock itself. For example, when the stock price increases, the Company
Stock Fund does not appreciate at the same rate because of the cash
investments in the Company Stock Fund. Conversely, when the value of
Chemtura stock drops, the value of the Company Stock Fund does not drop
at the same rate because of the cash cushion.
• Chemtura stock was delisted from the NYSE and now trades on the overthe-
counter market, sometimes called the “pink sheets,” under the symbol
CEMJQ (the Q indicates that the company is in bankruptcy). The “pink
sheet” market is not a formal exchange and generally speaking there is less
trading opportunity and more speculative trading. This means that it may be
more difficult to dispose of the large block of Chemtura stock held by the
Plan without depressing the trading price.
• If you are currently eligible to take a distribution from the plan because you
are over age 59 ½ or have had a Severance from Service (as defined in the
Plan), you may elect to receive the vested balance of the Company Stock
Fund distributed in the form of Chemtura stock. This option will no longer
be available if the Company Stock Fund is liquidated.
Making Investment Changes or Requesting A Distribution
Fidelity continues to provide record keeping services for your Plan. Should you
wish to adjust your current asset allocation or take a distribution from the Plan,
you should follow the normal procedures by calling Fidelity at 1-800-421-3844.
You may also access and manage your account via personal computer by going to
the Fidelity NetBenefits® Web site at www.401k.com. Follow the instructions
online. Generally, if you request a transaction either by phone or online before 4
p.m. Eastern Time, it will be effective the next business day; if you request a
transaction by phone or online after 4 p.m. Eastern Time, it will be effective the
second business day after your request.
Throughout the Chemtura bankruptcy and reorganization process, Fiduciary
Counselors will continue to monitor the share price, the bankruptcy proceeding
and other developments to determine what actions can be taken to protect your
interests as Plan participants and beneficiaries. If and when we make decisions
that may have an effect on you, we will notify you as soon as practicable.
However, we may sell Chemtura stock as we deem prudent, increasing the cash in
the Company Stock Fund, without notifying you in advance.
Fiduciary Counselors Inc.
October 14, 2009
Page 4
If you have questions about actions that Fiduciary Counselors has taken, please
contact us by e-mail at Chemtura@FiduciaryCounselors.com. If you have
questions about your Plan and its investment options or distributions, contact
Fidelity at 1-800-421-3844 or visit your Plan on the internet at www.401k.com.
Sincerely,
Nell Hennessy
President & CEO
FIDUCIARY COUNSELORS INC.
Information was provided by Fiduciary Counselors. Fidelity Investments is not responsible for its content.
10-09
5. Re: Chemic76spirit {the real chemic76 is back!}
Evidently , chingwongsang is now using two ID's chemic77@ymail...., and chemic78,so please don't confuse. I will tell you now that the only thing I want this stock to do is go up; and all my...
Business & Finance > Investments > Stocks (A to Z) > Stocks C > Chemtura Corporation (CEMJQ.PK) chemic76spirit 15-Jun-09 08:00 am
26. To Chemic76
Now Ask is $0.44 and Bid is $0.43. As a LONG, I like to congratulate your promotion to a millionaire. Good work!!
Business & Finance > Investments > Stocks (A to Z) > Stocks C > Chemtura Corporation (CEMJQ.PK) oaps111 28-May-09 12:03 pm
Sorry man I don't think so. You can be-little me all ya want ; it kind of figures that you would, not really surprised. I don't like it any more than you or any other stock holder. Ever hear the phase , "don't shoot the messenger?" Maybe you can talk to the Bromine driver that delivered a load to Adrian this week your self? Or are you too busy driving by Biolab looking at the parking lot?
--------------------------------------------------------------------------------
Date: Wed, 7 Oct 2009 17:51:38 -0400
Subject: Chemtura Stock
From: nell.hennessy@fiduciarycounselors.com
Unfortunately, it is very common for stock to get wiped out in a bankruptcy. If the company reorganizes, the creditors who have lent money to the company or provided goods to the company must get paid before shareholders receive anything. Often they get paid in newly-issued stock worth and even then they get less than they are owed. Thus you’ll often hear that creditors are being paid cents on the dollar. · The SEC has an excellent primer for investors on what happens to stock and other securities in a bankruptcy, available online at http://sec.gov/investor/pubs/bankrupt.htm <http://sec.gov/investor/pubs/bankrupt.htm> .
We don’t yet know for sure what will happen in this case, but Chemtura and the Creditors Committee have both told the bankruptcy judge that they don’t believe that there will be anything to be paid to shareholders.
We’re close to finalizing our letter and I’ll send you a copy by e-mail as soon as its ready to go out.
Nell
Nell Hennessy
President & CEO
Fiduciary Counselors Inc.
700 12th St. NW
Suite 700
Washington, DC 20018
(202) 558-5141 (direct)
202-558-5140 (fax)
You all can say what you want about me; I know that I have been completely honest with what I have said here tonight{to the best of my knowelege}. I have no agenda, other than a prosperous future for every one concerned. I have been a long in cemjq since .088 and put up with alot of BS my self for sticking with it. Spent countless hours my self going through court documents. This is a letter I recieved from Rogerson on the matter.
RE: Ask the CEO
From: Ask the CEO (asktheceo@chemtura.com)
Sent: Mon 10/05/09 10:08 AM
Thank you for your clarification. In April, all employees were notified of the stock restrictions within the 401(k); specifically, that they could still sell any stock they had but could not buy. Please be aware the company has hired a third-party independent fiduciary (Fiduciary Counselors Inc. or FCI) to make decisions regarding company stock within the 401(k). Soon, FCI will be sending a communication out through Fidelity to 401(k) participants, clarifying their position regarding the trading of Chemtura stock within the Chemtura Corporation Savings Plan. You may contact FCI’s CEO, Nell Hennessy, directly at 202-558-5141 regarding any questions you have.
If you want some more info, we had a truck driver from Eldo at our plant; he stated that they lost the Colgate Palmolive account. Seems the Chinese are going to take over what ever they were using all that Bromine for. According to the driver, they went from 18 trucks a week down to a few every two weeks and were shutting the one part of the plant down. I hope they do sell the plant, even though , doesn't it make you wonder if Chem can get all the employees to sell off, what they are up to?
the first was my response, the latter two were quotes from the letter.
that's what I was wondering; and wouldn't you rather know about this than not?
Chemtura Hires Fiduciary Counselors Inc. To warn 401k plan participants as to the significant risk involved with the company stock. Letters were sent to all 401k plan participants holding Chemtura stock; {many of them recieved yesterday}. Restrictions were placed on buying company stock at the end of March, but participants , still able to sell. This letter was intimidating to me personally,and I felt that it could cause a possible run on the stock. I don't really know the objective other than to warn that, even though there has been positive indicators with the higher selling price per share;it may no longer be prudent to hold the Chemtura Stock.
sorry i missed it
10-15-09 Chemtura Files Motion with Court to extend Exlusivity Period 90 days !!
Pilgrims Pride "ECHO"
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Splits:none
Last Trade: 6.45
Trade Time: 11:51AM ET
Change: 0.10 (1.57%)
Prev Close: 6.35
Open: 6.42
Bid: N/A
Ask: N/A
1y Target Est: 3.00
Day's Range: 6.42 - 6.55
52wk Range: 0.14 - 7.90
Volume: 85,805
Avg Vol (3m): 452,262
Market Cap: 477.65M
P/E (ttm): N/A
EPS (ttm): -13.99
Div & Yield: N/A (N/A)
Docket 1202: Employment and retention of Duff and Phelps,LLC as valuation services provider for the Debtor and Debtor in possession. Looks like this may be where the rubber hits the road.http://www.kccllc.net/chemtura
I have a concern.
If there was a real concern, would you want to hear about it now, or after..when it may be too late?
Question; What would debt for equity do to commons?
Robert Woods turned down the $9 offer, "before" economic downturn
Not much.