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Finding Value for Shareholders in Bankruptcy
Wednesday, April 21st, 2010
Colonial BancGroup, Inc. (OTC:CBCGQ), Smurfit-Stone Container Corporation (OTC:SSCCQ), and Visteon Corporation (OTC:VSTNQ) are three bankrupt stocks where shareholders believe excess value exists.
Companies that go bankrupt usually have nothing left over for shareholders, but there are cases when common stock holders come out ahead in the end. For example, General Growth Properties (GGP, Free Analysis) recent emerged from bankruptcy with common stock intact. Often times, this is limited to cases where excess value is left over after creditors are paid.
Colonial BancGroup, Inc. (CBCGQ, Free Analysis), a financial services company that provided a range of products, is one such situation where shareholders believe there is excess value. In this case, shareholders are speculating that the bank may have the right to get a “substantial” amount of cash from federal income tax refunds, as a result of losses reported in 2008 and 2009.
The “substantial amount that is as yet undetermined” could help bring extra capital to the proceedings and help the case for common stock holders. However, according to the firm’s latest operating report filed with the bankruptcy court, it possesses just $45.5 million in assets compared to $365.6 million in liabilities, meaning it will likely still fall short.
Receive Free CBCGQ Analysis by E-Mail
Smurfit-Stone Container Corporation (SSCCQ, Free Analysis), an integrated manufacturer of paperboard and packing products, is another case where excess value may be left over. The company began its fight in court today with shareholders, arguing that the company isn’t worth enough to pay off creditors in full and have remaining funds for shareholders.
Shareholders countered that argument, which would lead to all the common stock being canceled, by stating that the paperboard manufacturer’s projections are based on the recent economic crisis, which makes them too pessimistic. As a result, the shareholders want to see a new plan where creditors don’t receive more than they are owed.
Receive Free SSCCQ Analysis by E-Mail
Visteon Corporation (VSTNQ, Free Analysis), a supplier of electronic systems to automotive manufacturers, is a final case where shareholders contend excess value exists. Among these shareholders is Aurelius Capital Management, which argued that the bankruptcy plan rests on a valuation that is “far below” the reorganized debtors’ true value.
As a result, the 9.74% stakeholder has continued to accumulate shares at these discounted levels and intends to fight the bankruptcy proceedings on behalf of shareholders. In particular, the fund expects to file an objection to the disclosure statement, which it finds to be grossly deficient concerning the total enterprise value and equity value on which the plan is predicated.
Receive Free VSTNQ Analysis by E-Mail
http://sumfolio.com/finding-value-for-shareholders-in-bankruptcy-444/
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Vacationing a human right, EU chief says
By Katherine Laidlaw, National PostApril 19, 2010
The plan would see taxpayers footing some of the bill for families facing "difficult social, financial or personal" circumstances
The European Union has declared travelling a human right, and is launching a scheme to subsidize vacations with taxpayers' dollars for those too poor to afford their own trips.
Antonio Tajani, the European Union commissioner for enterprise and industry, proposed a strategy that could cost European taxpayers hundreds of millions of euros a year, The Times of London reports.
"Travelling for tourism today is a right. The way we spend our holidays is a formidable indicator of our quality of life," Mr. Tajani told a group of ministers at The European Tourism Stakeholders Conference in Madrid on April 15. Mr. Tajani was appointed to his post by Italian Prime Minister Silvio Berlusconi.
The plan -- just who gets to enjoy the travel package has yet to be determined -- would see taxpayers footing some of the vacation bill for seniors, youths between the ages of 18 and 25, disabled people, and families facing "difficult social, financial or personal" circumstances. The disabled and elderly can also be accompanied by one other person. The EU and its taxpayers are slated to fund 30% of the cost of these tours, which could range from youth exploring abandoned factories and power plants in Manchester to retirees taking discount trips to Madrid, all in the name of cultural appreciation.
"The commission is literally considering paying people to go on holiday," Mats Persson, of pro-reform think-tank Open Europe, told Britain's News of the World. "In this economic climate, it's astonishing that the EU wants to bribe people with cheap holidays."
Mr. Tajani said the program will be piloted until 2013, and then fully launched.
Intended to instill a sense of cultural pride in Europeans, Mr. Tajani's human-rights travel will also help bridge the continent's north-south divide and pad resorts' business in their off-season, the Times reports.
Northern Europeans will be encouraged to visit southern Europe, and vice versa. Mr. Tajani wants to ensure people's "right to be tourists" remains intact.
National Post and news services
© Copyright (c) National Post
**my editorial, This is the how the end comes. Read Atlas Shrugged"**
Vacationing a human right, EU chief says
By Katherine Laidlaw, National PostApril 19, 2010
The plan would see taxpayers footing some of the bill for families facing "difficult social, financial or personal" circumstances
The European Union has declared travelling a human right, and is launching a scheme to subsidize vacations with taxpayers' dollars for those too poor to afford their own trips.
Antonio Tajani, the European Union commissioner for enterprise and industry, proposed a strategy that could cost European taxpayers hundreds of millions of euros a year, The Times of London reports.
"Travelling for tourism today is a right. The way we spend our holidays is a formidable indicator of our quality of life," Mr. Tajani told a group of ministers at The European Tourism Stakeholders Conference in Madrid on April 15. Mr. Tajani was appointed to his post by Italian Prime Minister Silvio Berlusconi.
The plan -- just who gets to enjoy the travel package has yet to be determined -- would see taxpayers footing some of the vacation bill for seniors, youths between the ages of 18 and 25, disabled people, and families facing "difficult social, financial or personal" circumstances. The disabled and elderly can also be accompanied by one other person. The EU and its taxpayers are slated to fund 30% of the cost of these tours, which could range from youth exploring abandoned factories and power plants in Manchester to retirees taking discount trips to Madrid, all in the name of cultural appreciation.
"The commission is literally considering paying people to go on holiday," Mats Persson, of pro-reform think-tank Open Europe, told Britain's News of the World. "In this economic climate, it's astonishing that the EU wants to bribe people with cheap holidays."
Mr. Tajani said the program will be piloted until 2013, and then fully launched.
Intended to instill a sense of cultural pride in Europeans, Mr. Tajani's human-rights travel will also help bridge the continent's north-south divide and pad resorts' business in their off-season, the Times reports.
Northern Europeans will be encouraged to visit southern Europe, and vice versa. Mr. Tajani wants to ensure people's "right to be tourists" remains intact.
National Post and news services
© Copyright (c) National Post
**my editorial, This is the how the end comes. Read Atlas Shrugged"**
Thanks that clears it up...I think I'm going to have a seizure.
no PK?ripper?
Welcome back. e/m
Wow, talk about a trending stock!! Doesn't get any more obvious than that.
BLUG keeps blugging along. Link back to chart.
Your updates are appreciated Gileon. e/m
MBHI .50 a/h, looks sweet!!!e/m
Nice call on IWEB. e/m
A License Required for your house
Thinking about selling your house - A look at H.R. 2454 (Cap and trade bill) This is unbelievable!
Home owners take note & tell your friends and relatives who are home owners!
Beginning 1 year after enactment of the Cap and Trade Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. H.R. 2454, the "Cap & Trade" bill passed by the House of Representatives, if also passed by the Senate, will be the largest tax increase any of us has ever experienced. The Congressional Budget Office (supposedly non-partisan) estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded. However, once the lower classes feel the pinch in their wallets, you can be sure these voters get a tax refund (even if they pay no taxes at all) to offset this new cost. Thus, you Mr. and Mrs. Middle Class America will have to pay even more since additional tax dollars will be needed to bail out everyone else.
But wait. This awful bill (that no one in Congress has actually read) has many more surprises in it. Probably the worst one is this: A year from now you won't be able to sell your house. Yes, you read that right. The caveat is (there always is a caveat) that if you have enough money to make required major upgrades to your home, then you can sell it. But, if not, then forget it. Even pre-fabricated homes ("mobile homes") are included. In effect, this bill prevents you from selling your home without the permission of the EPA administrator. To get this permission, you will have to have the energy efficiency of your home measured. Then the government will tell you what your new energy efficiency requirement is and you will be forced to make modifications to your home under the retrofit provisions of this Act to comply with the new energy and water efficiency requirements. Then you will have to get your home measured again and get a license (called a "label" in the Act) that must be posted on your property to show what your efficiency rating is; sort of like the Energy Star efficiency rating label on your refrigerator or air conditioner. If you don't get a high enough rating, you can't sell. And, the EPA administrator is authorized to raise the standards every year, even above the automatic energy efficiency increases built into the Act.
The EPA administrator, appointed by the President, will run the Cap & Trade program (AKA the "American Clean Energy and Security Act of 2009") and is authorized to make any future changes to the regulations and standards he alone determines to be in the government's best interest. Requirements are set low initial y so the bill will pass Congress; then the Administrator can set much tougher new standards every year. The Act itself contains annual required increases in energy efficiency for private and commercial residences and buildings.
However, the EPA administrator can set higher standards at any time.
Sect. 202:
Building Retrofit Program mandates a national retrofit program to increase the energy efficiency of all existing homes across America . Beginning 1 year after enactment of the Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. You had better sell soon, because the standards will be raised each year and will be really hard (i.e., ex$pen$ive) to meet in a few years. Oh, goody! The Act allows the government to give you a grant of several thousand dollars to comply with the retrofit program requirements if you meet certain energy efficiency levels. But, wait, the State can set additional requirements on who qualifies to receive the grants.
You should expect requirements such as "can't have an income of more than $50K per year", "home selling price can't be more than $125K", or anything else to target the upper middle class (and that's YOU) and prevent them from qualifying for the grants. Most of us won't get a dime and will have to pay the entire cost of the retrofit out of our own pockets. More transfer of wealth, more "change you can believe in."
Sect. 204:
Building Energy Performance Labeling Program establishes a labeling program that for each individual residence will identify the achieved energy efficiency performance for "at least 90 percent of the residential market within 5 years after the date of the enactment of this Act." This means that within 5 years 90% of all residential homes in the U.S. must be measured and labeled. The EPA administrator will get $50M each year to enforce the labeling program. The Secretary of the Department of Energy will get an additional $20M each year to help enforce the labeling program. Some of this money will, of course, be spent on coming up with tougher standards each year.
Oh, the label will be like a license for your car. You will be required to post the label in a conspicuous location in your home and will not be allowed to sell your home without having this label. And, just like your car license, you will probably be required to get a new label every so often - maybe every year. But, the government estimates the cost of measuring the energy efficiency of your home should only cost about $200 each time. Remember what they said about the auto smog inspections when they first started: that in California it would only cost $15. That was when the program started. Now the cost is about $50 for the inspection and certificate; a 333% increase. Expect the same from the home labeling program.
Sect. 304:
Greater Energy Efficiency in Building Codes establishes new energy efficiency guidelines for the National Building Code and mandates at 304(d), Application of National Code to State and Local Jurisdictions, that 1 year after enactment of this Act, all state and local jurisdictions must adopt the National Building Code energy efficiency provisions or must obtain a certification from the federal government that their state and/or local codes have been brought into full compliance with the National Building Code energy efficiency standards.
http://www.govtrack.us/congress/bill.xpd?bill=h111-2454
http://forum.grasscity.com/politics/499132-license-sell-your-house.html
A License Required for your house
Thinking about selling your house - A look at H.R. 2454 (Cap and trade bill) This is unbelievable!
Home owners take note & tell your friends and relatives who are home owners!
Beginning 1 year after enactment of the Cap and Trade Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. H.R. 2454, the "Cap & Trade" bill passed by the House of Representatives, if also passed by the Senate, will be the largest tax increase any of us has ever experienced. The Congressional Budget Office (supposedly non-partisan) estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded. However, once the lower classes feel the pinch in their wallets, you can be sure these voters get a tax refund (even if they pay no taxes at all) to offset this new cost. Thus, you Mr. and Mrs. Middle Class America will have to pay even more since additional tax dollars will be needed to bail out everyone else.
But wait. This awful bill (that no one in Congress has actually read) has many more surprises in it. Probably the worst one is this: A year from now you won't be able to sell your house. Yes, you read that right. The caveat is (there always is a caveat) that if you have enough money to make required major upgrades to your home, then you can sell it. But, if not, then forget it. Even pre-fabricated homes ("mobile homes") are included. In effect, this bill prevents you from selling your home without the permission of the EPA administrator. To get this permission, you will have to have the energy efficiency of your home measured. Then the government will tell you what your new energy efficiency requirement is and you will be forced to make modifications to your home under the retrofit provisions of this Act to comply with the new energy and water efficiency requirements. Then you will have to get your home measured again and get a license (called a "label" in the Act) that must be posted on your property to show what your efficiency rating is; sort of like the Energy Star efficiency rating label on your refrigerator or air conditioner. If you don't get a high enough rating, you can't sell. And, the EPA administrator is authorized to raise the standards every year, even above the automatic energy efficiency increases built into the Act.
The EPA administrator, appointed by the President, will run the Cap & Trade program (AKA the "American Clean Energy and Security Act of 2009") and is authorized to make any future changes to the regulations and standards he alone determines to be in the government's best interest. Requirements are set low initial y so the bill will pass Congress; then the Administrator can set much tougher new standards every year. The Act itself contains annual required increases in energy efficiency for private and commercial residences and buildings.
However, the EPA administrator can set higher standards at any time.
Sect. 202:
Building Retrofit Program mandates a national retrofit program to increase the energy efficiency of all existing homes across America . Beginning 1 year after enactment of the Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. You had better sell soon, because the standards will be raised each year and will be really hard (i.e., ex$pen$ive) to meet in a few years. Oh, goody! The Act allows the government to give you a grant of several thousand dollars to comply with the retrofit program requirements if you meet certain energy efficiency levels. But, wait, the State can set additional requirements on who qualifies to receive the grants.
You should expect requirements such as "can't have an income of more than $50K per year", "home selling price can't be more than $125K", or anything else to target the upper middle class (and that's YOU) and prevent them from qualifying for the grants. Most of us won't get a dime and will have to pay the entire cost of the retrofit out of our own pockets. More transfer of wealth, more "change you can believe in."
Sect. 204:
Building Energy Performance Labeling Program establishes a labeling program that for each individual residence will identify the achieved energy efficiency performance for "at least 90 percent of the residential market within 5 years after the date of the enactment of this Act." This means that within 5 years 90% of all residential homes in the U.S. must be measured and labeled. The EPA administrator will get $50M each year to enforce the labeling program. The Secretary of the Department of Energy will get an additional $20M each year to help enforce the labeling program. Some of this money will, of course, be spent on coming up with tougher standards each year.
Oh, the label will be like a license for your car. You will be required to post the label in a conspicuous location in your home and will not be allowed to sell your home without having this label. And, just like your car license, you will probably be required to get a new label every so often - maybe every year. But, the government estimates the cost of measuring the energy efficiency of your home should only cost about $200 each time. Remember what they said about the auto smog inspections when they first started: that in California it would only cost $15. That was when the program started. Now the cost is about $50 for the inspection and certificate; a 333% increase. Expect the same from the home labeling program.
Sect. 304:
Greater Energy Efficiency in Building Codes establishes new energy efficiency guidelines for the National Building Code and mandates at 304(d), Application of National Code to State and Local Jurisdictions, that 1 year after enactment of this Act, all state and local jurisdictions must adopt the National Building Code energy efficiency provisions or must obtain a certification from the federal government that their state and/or local codes have been brought into full compliance with the National Building Code energy efficiency standards.
http://www.govtrack.us/congress/bill.xpd?bill=h111-2454
http://forum.grasscity.com/politics/499132-license-sell-your-house.html
A License Required for your house
Thinking about selling your house - A look at H.R. 2454 (Cap and trade bill) This is unbelievable!
Home owners take note & tell your friends and relatives who are home owners!
Beginning 1 year after enactment of the Cap and Trade Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. H.R. 2454, the "Cap & Trade" bill passed by the House of Representatives, if also passed by the Senate, will be the largest tax increase any of us has ever experienced. The Congressional Budget Office (supposedly non-partisan) estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded. However, once the lower classes feel the pinch in their wallets, you can be sure these voters get a tax refund (even if they pay no taxes at all) to offset this new cost. Thus, you Mr. and Mrs. Middle Class America will have to pay even more since additional tax dollars will be needed to bail out everyone else.
But wait. This awful bill (that no one in Congress has actually read) has many more surprises in it. Probably the worst one is this: A year from now you won't be able to sell your house. Yes, you read that right. The caveat is (there always is a caveat) that if you have enough money to make required major upgrades to your home, then you can sell it. But, if not, then forget it. Even pre-fabricated homes ("mobile homes") are included. In effect, this bill prevents you from selling your home without the permission of the EPA administrator. To get this permission, you will have to have the energy efficiency of your home measured. Then the government will tell you what your new energy efficiency requirement is and you will be forced to make modifications to your home under the retrofit provisions of this Act to comply with the new energy and water efficiency requirements. Then you will have to get your home measured again and get a license (called a "label" in the Act) that must be posted on your property to show what your efficiency rating is; sort of like the Energy Star efficiency rating label on your refrigerator or air conditioner. If you don't get a high enough rating, you can't sell. And, the EPA administrator is authorized to raise the standards every year, even above the automatic energy efficiency increases built into the Act.
The EPA administrator, appointed by the President, will run the Cap & Trade program (AKA the "American Clean Energy and Security Act of 2009") and is authorized to make any future changes to the regulations and standards he alone determines to be in the government's best interest. Requirements are set low initial y so the bill will pass Congress; then the Administrator can set much tougher new standards every year. The Act itself contains annual required increases in energy efficiency for private and commercial residences and buildings.
However, the EPA administrator can set higher standards at any time.
Sect. 202:
Building Retrofit Program mandates a national retrofit program to increase the energy efficiency of all existing homes across America . Beginning 1 year after enactment of the Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. You had better sell soon, because the standards will be raised each year and will be really hard (i.e., ex$pen$ive) to meet in a few years. Oh, goody! The Act allows the government to give you a grant of several thousand dollars to comply with the retrofit program requirements if you meet certain energy efficiency levels. But, wait, the State can set additional requirements on who qualifies to receive the grants.
You should expect requirements such as "can't have an income of more than $50K per year", "home selling price can't be more than $125K", or anything else to target the upper middle class (and that's YOU) and prevent them from qualifying for the grants. Most of us won't get a dime and will have to pay the entire cost of the retrofit out of our own pockets. More transfer of wealth, more "change you can believe in."
Sect. 204:
Building Energy Performance Labeling Program establishes a labeling program that for each individual residence will identify the achieved energy efficiency performance for "at least 90 percent of the residential market within 5 years after the date of the enactment of this Act." This means that within 5 years 90% of all residential homes in the U.S. must be measured and labeled. The EPA administrator will get $50M each year to enforce the labeling program. The Secretary of the Department of Energy will get an additional $20M each year to help enforce the labeling program. Some of this money will, of course, be spent on coming up with tougher standards each year.
Oh, the label will be like a license for your car. You will be required to post the label in a conspicuous location in your home and will not be allowed to sell your home without having this label. And, just like your car license, you will probably be required to get a new label every so often - maybe every year. But, the government estimates the cost of measuring the energy efficiency of your home should only cost about $200 each time. Remember what they said about the auto smog inspections when they first started: that in California it would only cost $15. That was when the program started. Now the cost is about $50 for the inspection and certificate; a 333% increase. Expect the same from the home labeling program.
Sect. 304:
Greater Energy Efficiency in Building Codes establishes new energy efficiency guidelines for the National Building Code and mandates at 304(d), Application of National Code to State and Local Jurisdictions, that 1 year after enactment of this Act, all state and local jurisdictions must adopt the National Building Code energy efficiency provisions or must obtain a certification from the federal government that their state and/or local codes have been brought into full compliance with the National Building Code energy efficiency standards.
http://www.govtrack.us/congress/bill.xpd?bill=h111-2454
http://forum.grasscity.com/politics/499132-license-sell-your-house.html
BLUG nhod, lmao. e/m
BLUG, now that i sold it will run. e/m
BLUG volume dried, exited at last push and failure to break resistance. out at .28 in at .26, so @8%ish. good enough for me. Have a great day all.
Blug a pincher also, if it can't break that resistance I'll run. And if it breaks .30, .33 will stop her for a while. So I am setting my sell in there. watching support here. GLTMEEEEEEEEE
Airline Stocks Climb; Continental Upgraded To Buy
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- Airline stocks were up Monday after investment firm Stifel Nicolaus upgraded its rating for Continental Airlines to buy, citing the carrier's potential to bid for United Airlines. The NYSE Arca Airline Index rose nearly 2% to 39.30, a 52-week high, with all but one of its 13 components trading higher. Shares of Continental Airlines rose nearly 4% to $22.35, United parent UAL Corp. added 4% to 21.30 and US Airways climbed 3.7% to $7.59. Last week it was reported United and US Airways were in merger talks. "We believe Continental has long had the desire to merge with UAL, but felt no sense of urgency to do so," said Stifel Nicolaus. "However, reports of an imminent UAL-US Airways merger could likely force Continental's hand."
Copyright © 2010 MarketWatch, Inc.
Playing BLUG here, +40%. chart&news
she's going for a second push here. Huge volume for this lil' baby.
Blugrass Enters Into Agreement on Canyon Sands Prospects With Petro Grande
CALGARY, AB, Apr 12, 2010 (MARKETWIRE via COMTEX) -- Blugrass Energy Inc. /quotes/comstock/11k!blug (BLUG 0.27, +0.08, +39.49%) is pleased to announce it has signed a participation agreement with Petro Grande, LLC to commence drilling on two Canyon Sands locations which will be designated by Petro Grande. The initial two locations are grouped together into Block CS-S-A consisting of CSL 1-3 and Block CS-S-B consisting of CSL 4-6.
On or before May 12, 2010, Blugrass shall pay to Petro Grande the sum of $48,000 as the total Location Fee for two Canyon Sands Locations and $750,000 per location for drilling and completion. Upon payment, Petro Grande shall assign to Blugrass an undivided 75% of its rights, titles and interests in and to the Subject Lease insofar as the same covers the two Canyon Sands Locations designated by Petro Grande, one on Block CS-S-A and one on Block CS-S-B.
Petro Grande has designated over 75 locations on lands located on the Soto Lease (Canyon Wells) that it believes would be economic to drill. Drilling will be contracted by PG operating and the project manager will be Total Energy Services whose senior personnel are experienced in all aspects of oil and gas well completions to depths as great as 24,000 feet. Blugrass shall have the option to participate in any subsequent Initial Well proposed by or on behalf of Petro Grande to be drilled on the remaining Canyon Sands Locations in the same Block as such Initial Well and to be assigned its undivided 75% of Petro Grande's interest.
Petro Grande owns over 16,500 leased acres in the Permian basin in Val Verde and Crockett counties in West Texas with the latest advanced 3D seismic and over 150 targets selected for drilling. There are over 100 producing natural gas Canyon wells and 60 producing natural gas Strawn wells adjacent to this acreage. Petro Grande estimates that there is approximately 500 BCF of natural gas in its acreage position. The three main natural gas formations are Canyon Sands, approximately 6,300' in depth; Strawn formation, approximately 12,000' in depth; and the Ellenburger is approximately 14,000' in depth.
There are numerous giant gas fields on trend with the Acreage. The Gomez Field has produced to date approximately 10.6 TCF, Brown Bassett has produced to date approximately 1.6 TCF and the JM Field has produced to date in excess of 650 BCF. Mr. Berscht, President of Blugrass Energy Inc., states, "Petro Grande is in the right geographic location and we are excited at the opportunity we have with Petro Grande and look forward to a long and rewarding relationship with their extensively experienced team of experts. We believe this project offers Blugrass a great opportunity to build significant shareholder value."
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH OIL AND GAS EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Contact:
Blugrass Energy Inc.
Tony Collins
1-877-511-0110
http://www.marketwatch.com/story/blugrass-enters-into-agreement-on-canyon-sands-prospects-with-petro-grande-2010-04-12?reflink=MW_news_stmp
!!
PTEK selling in morn. I'll look into IWEB.
That's my part time gig after trading. lol
PTEK, break .92 and cha$ching. e/m
YRCW = nice, 30m volume already. e/m
VSTNQ had a hell of a shake, going back to 1.20's imo
also a w.a.g.
PTEK up 30% link back to chart.e/m
SNSS looks really good.imo. glty e/m
Never-mind my last post, looking at the numbers. There was a huge sell off eod. That being said initial numbers show buy vol outdoing sell by nearly 200k. better tomorrows.
horrible paint job at the eod.
lmao, true to life. e/m
fvsta HMMPF. missed it? e/m
VSTNQ Shareholders seek examiner for Visteon bankruptcy
Apr 5 2010 9:41am EDT
WILMINGTON, Delaware (Reuters) - Shareholders of auto parts maker Visteon Corp <VSTNQ.PK> asked a judge to appoint an examiner to determine if it is possible to craft a plan of reorganization more favorable to equity investors, according to court documents.
An examiner is needed because the company appears to be squandering "significant value" and proposing to wipe out shareholders while its operations are "vastly exceeding" projections, according to the filing from Friday.
The ad hoc group of shareholders also asked the judge to consider the request on short notice. The company will be seeking court approval next week of its disclosure statement, which will clear the way for Visteon to begin seeking votes from creditors on its reorganization plan.
Visteon's shares have risen from less than 2 cents in December to $1.65 on April 1, when the U.S. Trustee, which oversees bankruptcy cases, denied a request for an official committee of shareholders for Visteon.
An official committee would allow shareholders to speak with one voice and provide them a budget, paid for by Visteon, to hire advisers and carry out investigations.
Visteon amended its plan of reorganization last month to provide additional recovery for unsecured creditors, which it initially proposed to virtually wipe out. It still proposed wiping out shareholders.
"As with the initial plan, the amended plan is based on an unrealistically low valuation of the company and a suboptimal capital structure, which together provide a windfall to the company's secured claimholders at the expense of the company's other creditors and shareholders," said the filing from the group of shareholders.
Unsecured creditors are also upset with the proposed reorganization, and asked the court permission's last week to craft their own plan.
The ad hoc group of shareholders asked the court for a hearing on appointment of an examiner on April 13.
The case is In re Visteon Corp, U.S. Bankruptcy Court, District of Delaware, No. 09-11786.
(Reporting by Thomas Hals, editing by Dave Zimmerman)
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PRKR up 6% maybe it'll go for the 200dma this week. link back to chart.
GSI-If it can get past that 200 dma, boom. Also had some good news on 3/31
HXC is also pleased to announce the inclusion of 9 new constituents to its existing index of
http://www.istockanalyst.com/article/viewiStockNews/articleid/3993234
Happy Easter to all. e/m
Happy Easter to all. e/m
Happy Easter to all. e/m