Everything is going to be great (except we are going to screw the shareholders).

Pursuant to the contemplated Chapter 11 filing, holders of the existing Series B Preferred Stock and common stock issued by LodgeNet Interactive will have their interests cancelled and will not receive any distributions.

The recapitalization is designed to enable a restructured LodgeNet Interactive to emerge from Chapter 11 on a standalone basis with strong cash flow and a solid balance sheet.

Key terms of the recapitalization include:

The Colony Syndicate will invest $60 million in exchange for all of the new shares of common stock of LodgeNet Interactive;
LodgeNet's existing Credit Agreement will be amended to provide an extension in the form of a 5-year term loan in an aggregate amount equal to (i) $346.4 million plus (ii) the amount of accrued and unpaid interest that was capitalized prior to the Closing Date;
Based on the terms of the recently executed memorandum of understanding between Colony and DIRECTV, LodgeNet and DIRECTV will enter into a new agreement pursuant to which they will work under an expanded new strategic partnership, far exceeding the scope of the parties' current free-to-guest programming agreement, to include DIRECTV branding, programming and content, advertising, and support across all facets of operations, infrastructure and technology. This strategic partnership is expected to enhance the experience for new and existing hotel and healthcare customers, improve service capabilities and provide additional promotional options that will reduce or eliminate capital requirements within the industry.

Closing of the transaction is subject to various closing conditions, including Bankruptcy Court confirmation of a Chapter 11 Plan. Accordingly, no assurances can be given that the transaction will be consummated.

Miller Buckfire & Co. LLC, a wholly-owned subsidiary of Stifel Financial Corp., FTI Consulting, Inc. and Moorgate Securities LLC served as financial advisors to LodgeNet, Weil, Gotshal & Manges LLP acted as restructuring legal counsel and Leonard, Street and Deinard acted as corporate legal counsel to the Company. Guggenheim Securities, LLC served as financial advisor to Colony Capital, and Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP and Sullivan & Cromwell LLP provided legal counsel. Akin Gump Strauss Hauer & Feld LLP and CDG Group, LLC acted as advisors to the agent for the lenders.

About LodgeNet

I had a lot of blind trust and a gut instinct in this stock 4 years ago. Many times it looked like it had no hope to survive... But now they have a plan; it looks stable, and it is only up from here. I just closed my eyes and never sold a share.

Gramercy Capital Corp. Announces the Acquisition of a $27.125 Million Industrial Portfolio
BY Business Wire
— 5:17 PM ET 11/27/2012

NEW YORK--(BUSINESS WIRE)-- Gramercy Capital Corp. (GKK) closed on the acquisition of a two-property, 540,000 square-foot industrial portfolio (the “Portfolio”) located in the Indianapolis metropolitan area, in an all-cash transaction for a purchase price of approximately $27.125 million. The Portfolio is comprised of two Class A industrial buildings, 100% leased to three tenants, with a 10.2-year weighted average lease term.

Gordon F. DuGan, Chief Executive Officer of Gramercy Capital Corp. (GKK), commented, “This is our first closing under the Company’s new strategy and represents an important step in the transformation of Gramercy into a premiere net lease investor focused on office and industrial properties.” Mr. DuGan continued, “We are looking to construct a portfolio of high quality assets that generate durable sustainable cash flows for the benefit of our shareholders.”

Company Profile

Gramercy Capital Corp. (GKK) is a self-manag..............

Gramercy Capital Corp. Closes the Previously Announced Acquisition of a $485 Million Portfolio in a Joint Venture with Garrison Investment Group
BY Business Wire
— 4:34 PM ET 12/06/2012

NEW YORK--(BUSINESS WIRE)-- Gramercy Capital Corp. (GKK) announced today that it has closed in a joint venture with Garrison Investment Group (“Garrison”) on the acquisition of a 115-property portfolio (“Portfolio”), for a total purchase price of $485 million ($87 per square foot). The Portfolio was acquired from an affiliate of KBS Real Estate Investment Trust, Inc. (“KBS”). At closing, the Company and Garrison collectively capitalized the joint venture, on a 50/50 basis, with an equity investment of approximately $141 million, plus deal expenses. The Company funded its portion of the equity contribution with approximately $56 million in cash and the issuance of six million shares of common stock to KBS, valued at $15 million at the execution date of the purchase agreement.

The Portfolio totals approximately 5.6 million square feet and is comprised of office buildings, branch-office buildings and operations centers. Bank of America, N.A. (“Bank of America”) leases approximately 81% of the total Portfolio and total occupancy is approximately 88%. The Portfolio consists of two sub-portfolios: The core portfolio (“Core Portfolio”), which consists of 67 assets and the held-for-sale portfolio (“Held-For-Sale Portfolio”) which consists of 48 properties. The joint venture’s strategy is to retain a core net-lease portfolio of high quality assets leased to Bank of America in primary and strong secondary markets and sell non-core, multi-tenant assets.

The Core Portfolio consists of 67 assets located in ten states. It is 98% occupied, with 96% leased to Bank of America under a 10.5-year master lease. For 2013, the Core Portfolio is expected to generate net operating income of approximately $27.2 million. At closing, the joint venture financed the Core Portfolio with a $200 million first mortgage.

The Held-For-Sale Portfolio consists of 48 assets located in 13 states that are 68% leased to Bank of America. Concurrently with the purchase of the Portfolio, the joint venture sold two multi-tenant office buildings for net proceeds of approximately $144 million. The two buildings sold at closing were a one million square foot multi-tenant office building located in downtown Chicago and a 406,000 square foot multi-tenant office building located in downtown Charlotte. Proceeds from these sales were used to reduce the capital contributions required by the Company and Garrison to fund the joint venture. The joint venture plans to sell the remaining 46 Held-For-Sale assets over the next 12-18 months for expected net proceeds of approximately $50 million. For 2013, the Held-For-Sale Portfolio is expected to generate net operating income of approximately $3.2 million.

Gordon F. DuGan, Chief Executive Officer of Gramercy Capital Corp. (GKK), commented, “We couldn’t be more excited about this acquisition. The transaction allows Gramercy to deploy a significant amount of capital into an attractive, high-yielding, net lease opportunity. Furthermore, Garrison has been a tremendous partner in closing the largest and most complicated deal in my 24-year career.”

$.72 per share dividend Nov 28,2012!!!!!!!


Boise Adds 1% in Pre-Market - Declares Special Cash Dividend of $0.72 Per Share
BY Midnight Trader
— 9:24 AM ET 11/16/2012

09:24 AM EST, 11/16/2012 (MidnightTrader) -- Boise (BZ) said today that its board of directors has declared a a special cash dividend of $0.72 per common share, payable Dec 12, 2012, to shareholders of record at the close of business on Nov 28, 2012.

Shares are up 1.18% to $7.72 in the pre-market session, with a 52-week range of $5.35 - $9.18.

Price: 7.72, Change: +0.09, Percent Change: +1.18

http://www.midnighttrader.com

I guess I should have listened to the S&P warning that I posted myself...

Sold at $2.20 and rolled it into BYFC.

I am in at $1.25- $1.36. Book value per share is high at $11.27. Cash value per share is high at $8.39. Multiple bottom at $1.00 followed by spike above $2.50. Retraced to $1.20 ish......etc, etc.

Buyout at $2.20.

Couldn't figure out why I own this stock. Found this from another board:

EMPZ- Empire Pizza Holdings, Inc.. Reverse Split History No Bid

HCKI 1:35 R/S 6/17/2010
HCKE 1:50 R/S 10/27/2009
ALRN 1:10,000 01/23/2009
ALCI 1:1000 12/03/2007
HVLN name change 09/24/2007
AWYB name change 11/10/2006
AWBV 1:5000 R/S 09/12/2006
AWBD 1:10 R/S 01/21/2005
AWHB 1:300 R/S 11/23/2004
DCGX 1:100 R/S 04/12/2004
DCGR 1:25 R/S 11/18/2002
DCIH 1:200 R/S 12/21/2001
DCGR 1:30 R/S 09/11/1998

It would be nice to be able to participate in the offer. Buy the stock and a warrant for $0.40. Sell the stock today for 40 cents, and keep the warrants for free. Warrants good for 3 years at an exercise price of $0.59 per share.

[27.5 million units at a price to the public of $0.40 per unit, for gross offering proceeds of $11.0 million.

Under the terms of the offering, each unit consists of one share of common stock and one warrant to purchase one share of common stock ("Warrant"). The shares of common stock and warrants are immediately separable and will be issued separately. The Warrants are exercisable immediately upon issuance. The Warrants have a 3-year term and an exercise price of $0.59 per share.]

......

Still have them all?

Item 1.01. Entry Into a Material Definitive Agreement.

During the second quarter of fiscal 2012, CPI Corp. (the "Company) discontinued its Portrait Gallery from Bella Pictures® operations. The Company had previously entered into leases for 19 retail stores at certain shopping centers owned and managed by Westfield, LLC ("Westfield"). On August 30, 2012, the Company entered into a Settlement Agreement and General Release (the “Agreement”) with Westfield. Under the Agreement, the Company shall pay Westfield the sum of $500,000, in five equal installments on or before October 15, 2012, December 15, 2012, January 15, 2013, February 15, 2012, and March 15, 2012, as consideration and final settlement of the leases.

TEXT-S&P comments on LodgeNet Interactive Corp
BY Reuters
— 4:39 PM ET 08/22/2012
(The following statement was released by the rating agency)

Aug 22 - Standard & Poor's Ratings Services said today that its rating on LodgeNet Interactive Corp. (LNET) (CCC/Negative/--) is unaffected by the company's recent announcement that it has hired financial advisors to explore and evaluate potential refinancing alternatives and other strategic alternatives. LodgeNet had a very thin 8% EBITDA cushion of compliance with its net leverage covenant at June 30, 2012. As calculated by the bank agreement, net leverage was 3.68x as of June 30, 2012, versus the 4.0x covenant, which tightens to 3.75x at Dec. 31, 2012, and then to 3.5x at Sept. 30, 2013. We believe LodgeNet will need to amend its credit agreement to maintain compliance with covenants, based on management's withdrawal of its EBITDA guidance and our expectation that performance will continue to deteriorate for the rest of 2012. Cash balances were minimal, at $7 million as of June 30, 2012. The company faces the maturity of its revolving credit facility due April 2013 and term loan due April 2014, which is currently trading at a significant discount. We will continue to monitor low trading levels of the company's term loan, which might suggest that a subpar exchange offer would be among alternatives that management could consider. We would view such a transaction as a selective default. (Caryn Trokie, New York Ratings Unit)

Good times!!

In at 61 cents. Come on CHINA!!!!

NEW YORK, Aug. 3, 2012 /PRNewswire/ -- Sycamore Partners today announced that TLB Merger Sub Inc., an entity affiliated with Sycamore Partners, has accepted for payment all shares of common stock of The Talbots, Inc. (TLB) (the "Company" or "Talbots") that were validly tendered into its tender offer to acquire all outstanding shares of common stock of the Company at a purchase price of $2.75 per share, net to the seller in cash, as of the expiration of the tender offer. The tender offer expired at 5:00 p.m., New York City time, on Thursday, August 2, 2012.

The depositary for the tender offer advised that, as of the offer's expiration, 51,769,611 shares of common stock of the Company had been validly tendered and not withdrawn in the tender offer, which, when added to the 6,999,316 shares of Company common stock owned by Sycamore Partners and its affiliates, represent approximately 83.6% of the outstanding shares of the Company. All such tendered shares have been accepted for payment in accordance with the terms of the tender offer.

Sycamore Partners intends to promptly move forward with a "short-form" merger under Delaware law after exercising its top-up option under the merger agreement, and Talbots will become a wholly-owned subsidiary of TLB Holdings LLC, an entity affiliated with Sycamore Partners. The merger is expected to be completed today, August 3, 2012. As a result of the merger, any shares of Talbots common stock not previously tendered will be cancelled and (except for shares held by Talbots, TLB Merger Sub Inc., TLB Holdings LLC or shares for which appraisal rights are properly demanded pursuant to Delaware law) will be converted into the right to receive the same $2.75 per share in cash paid in the tender offer. Following the merger, Talbots' common stock will cease to be traded on the New York Stock Exchange.

Here is the full article:

http://www.bloomberg.com/news/2012-08-06/joyce-puts-knight-survival-over-shares-forging-400-million-deal.html?cmpid=yhoo

The dilution to its equity leaves “very little” for existing shareholders, while likely ensuring the company’s survival, according to analysts at JPMorgan Chase & Co., who predicted Knight eventually may be broken up.

The investors agreed to buy preferred stock that will be convertible into about 267 million common shares at $1.50 a share, the company said today. The new investment in Knight will represent 73 percent of the company once the 2 percent preferred shares are converted into common stock in about a week.

I sold my 300 or so shares for 1.6 cents per share. 99 percent loss.

It is mentioned in the article you posted:

The reverse stock split, which was approved by the Company's stockholders on May 19, 2011, will reduce the number of shares of the Company's outstanding common stock from approximately 135.2 million shares to approximately 19.3 million shares. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share.

Back to lurking.

I guess that I am just in a bad mood today. I am going to stay off the boards.

Answer one question for me then. Why is my peix stock position that I paid over $100 for 2 years ago worth $5.00 if there was no reverse split followed by a massive drop.

What are you saying by history repeating itself? Another reverse split to get the price to $8.00 per share followed by the share price dropping to a quarter? I guess that makes sense. What until the price drops to a quarter after the reverse split.

New to the scene. Probably will have to wait for a press release to see if the shares will survive.

PCXPatriot Coal Corporation (PCX) Price After Hours
Share Volume
17:12 $ .411 675
17:12 $ .43 4,067
17:12 $ .43 200
17:12 $ .43 5,000
17:12 $ .42 500
17:12 $ .4111 100
17:12 $ .4111 100
17:12 $ .4111 100
17:12 $ .4111 100
17:12 $ .4111 100
17:11 $ .47 4,000

I hope it runs to $3.00 for you.....

You are a very smart man. Nice prediction:)

I am a buyer at $2.38. Will sell above $2.65.

---Been away from this site for a while (working regular job).

This caught my attention:
As of February 4, 2012, our current liabilities of $116.5 million (including $74 million due under our Credit Agreement) exceed our current assets of $25.3 million, and there is a total stockholders' deficit of $58.8 million. As of February 4, 2012, we are not in compliance with our covenants under the Credit Agreement, and such noncompliance continues to exist as of today.

Last [Tick] $0.75

Where she stops- No one knows...
Price After Hours
Share Volume
17:03 $ .989 1,000
16:57 $ .98 1,028
16:57 $ .989 1,472


Read more: http://www.nasdaq.com/symbol/app/after-hours#ixzz1r6mV0a00

Gapping after hours
Trade Detail
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:47 $ .95 2,500
16:47 $ .95 1,472
16:43 $ .95 5,000
16:43 $ .95 5,000
16:43 $ .95 1,028
16:42 $ .943 500
16:42 $ .9497 6,400
16:42 $ .9497 1,028
16:42 $ .95 3,972
16:40 $ .934 600
16:40 $ .943 500
16:40 $ .945 2,000
16:26 $ .95 4,000

You still watching this stock, Frankiy?

Putting my initial investment and profits back in at $1.55. Moving the chess pieces around. I do not see it dropping below $1.25-$1.40. If it does, I will double my position.

MODEL DIDN’T FLY: The Memphis, Tenn.-based airline said its current business model isn’t sustainable. It tried to combine operating subsidiaries to recover from lost business after major airlines cut back on flying. Pinnacle lists $1.42 billion in debt and $1.54 billion in assets.

That 120 million will be gone with the whip of a pen.

If for some reason they publish numbers that say assets are greater than liabilities, just remember that they probably will write down the value of the airplanes by hundreds of millions of dollars over the next 5 months. Plus they will have exhorbant lawyer fees and court costs eating the stockholders equity away. Then 6 to 12 months from now the stock will become un-tradable/ zero.

Frequently Asked Questions for Investors
1. Is Pinnacle going out of business?
We intend to use the Chapter 11 process to reset our financial and operational structure in order to position Pinnacle for viability over the long term.
2. Will Pinnacle continue to trade on the NASDAQ stock exchange?
While we expect to be delisted from the NASDAQ exchange as part of this process, we will work under exchange guidelines to determine our listing status and we anticipate that our common stock will continue to be publicly traded over-the-counter / on the Pink Sheets during this process.
3. What will happen to the Company’s stockholders?
The common stock of companies in Chapter 11 is typically cancelled as part of the restructuring process. However, it is early in our process and we cannot say for certain whether Pinnacle’s common stock will be cancelled.
4. Will you hold quarterly earnings reports and host investor conference calls?
As part of this process we will be required to periodically disclose certain financial results. However, we will not issue earnings press releases or hold quarterly conference calls during the restructuring proceedings.
5. Should I sell my stock now?
We are not in a position to offer investment advice. The common stock of companies in Chapter 11 is typically cancelled as part of the restructuring process. However, it is early in our process and we cannot say for certain whether Pinnacle’s common stock will be cancelled.
6. Will I receive any compensation if the stock is cancelled?
Chapter 11 restructuring plans typically do not provide for the recovery of equity holders in the event of stock cancellation. However, it is early in our process and we cannot say for certain whether Pinnacle’s common stock will be cancelled.
7. How can I obtain more information?
Copies of the Chapter 11 petitions and other documents filed with the Bankruptcy Court will be available shortly after the filing at http://dm.epiq11.com/PinnacleAirlines.

They are bankrupt. If you like bankrupt airlines, I would sell you my MESA stock really cheap, but it has become un-tradable/ cancelled.

Going to crash tomorrow.

Pinnacle Airlines Files for Chapter 11 Reorganization to Continue Implementing Turnaround Plan

Pinnacle Airlines Corp. (NASDAQ: PNCL) today announced that the Company and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (the "Court"). Pinnacle intends to use the Chapter 11 process to continue implementing a comprehensive turnaround plan aimed at addressing its operational and financial challenges in a rapidly evolving regional airline industry. During this process, the company will remain focused on providing passengers with safe, reliable and timely service in collaboration with its network partners, Delta Connection, United Express and US Airways Express.
(Logo: Login )
Pinnacle expects to accomplish several key initiatives during the restructuring process to help ensure that it returns to profitability and remains viable over the long term as the regional airline industry continues to contract and transform. These initiatives include restructuring its key operating agreements with Delta Air Lines, winding down its operations with United Airlines, completing the wind-down of its Essential Air Service (EAS) flying with US Airways, achieving cost savings from its workforce, identifying additional opportunities across the organization to reduce costs, and ensuring that it has the appropriate fleet, staffing levels and network to operate profitably on an ongoing basis.
Sean Menke, President and CEO of Pinnacle, said, "We intend to use the Chapter 11 process to reset our financial and operational structure in order to position Pinnacle for viability over the long term. Quite simply, our current business model is not sustainable, as increasing operating expenses, liquidity constraints, business integration delays and difficulties associated with combining our operations have hindered our ability to maximize our growth potential. Following a lengthy review process, and with the assistance of independent financial, industry and legal advisors, our Board of Directors determined that a court-supervised restructuring is the only feasible course of action to implement