Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The 'effective date' is the date that the co emerges from bankruptcy. Upon emergence the co will implement the POR/ business plan that was confirmed in the bk.
Yep, from upsidetrader http://chart.ly/ftyrrtv
Has to come sometime.. Let's see what happens.
Glad to help guys CXZ has to be a good LT hold at this level!
Hey Mikie:) We still don't have an 'effective date' do we? Haven't been checking the filings like I should .. What is Corus waiting for?
Hope all is good on the island!
Jared, at this point with the confirmed plan already, most of the creditors are opting for shares in the new corus. I think the ones that opted for 'cash' are getting 'b' shares and will be paid supposedly a pro rata 'dividend'.. So if the reorganized co wins its refunds back--around $265m or so, it should be a big help for new corus in its business plan. Thus if the reorganized co wins the refunds it should be a moot point for us because the gain would probably come after the 'effective date'. We'd either be in the mix or not. (Thing is, CORSQ commons haven't had shareholder equity from the beginning--it's always been about needing us for deferred tax assets or not.)
The way I'm looking at it is we get included at the last minute because new corus needs the old shareholders because they don't have enough old and cold creditors to qualify for the NOLs. If not, oh well!!
The last minute thing would also be such so that volumnous buying doesn't upset the trading restrictions for the NOLs..
So to answer your question, not sure if Tricadia's belief that the bankholding co debtor should get the refunds would benefit us at all, rather it would benefit the reorganized entity. I don't think there would be a D/E swap for old CORSQ commons.
Just my thoughts:)
Ant
This post from Wamuq board, adds to reason for Tricadia's involvement in CORSQ:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67770503
Tobin Smith and Stewart Wallis:
http://www.equities.com/equities-tv?s=cxz#tabs-2
worldwide banking meltdown
Yep, just read that in the EC response.
Thanks for your effort David, you're doing excellent work! eom
List of Inverse ETF's for you:
http://www.tradermike.net/inverse-short-etfs-bearish-etf-funds/
Sweet: Zilla chime in!
Yep, I think so.. might need some confirmation.. maybe a poll over the weekend?
Mason Jennings!!! Awesome, check them out! Great band, nice pic's fo' sho'
Bowing out here.. This lady needs to be heard! Joan Osborne, I was about 11 when this was big-- lol
Classic most have not heard of:
Shinedown.. classic from Longhorn2006
Creed 6 Feet
Blade Runner Love Theme
The Deer Hunter: (the best scene)
Diana Krall: Cry Me a River
Yep, he's an honest trader---might not be invited back to the BBC any time soon! lol
Yup, they sure do--hopefully there's more pushback this time and the banks get to take the haircut!
A MUST WATCH:
http://feedproxy.google.com/~r/zerohedge/feed/~3/sI0s4zXvxWM/bbc-speechless-trader-tells-truth-collapse-comingand-goldman-rules-world
Some of us have been anticipating, what has been happening...
Chiron, the POR cancels the shares but doesn't cover the whole story--what about the NOL carryforwards?
IF the debtor has enough old an cold creditors to get the NOLS, I'm sure we will be history but a good deal of debt has changed hands in the last 9months or so.... so equity might be needed.
Not everyone agrees with me but i've thought Tricadia came into this deal to work with mr big--they helped swinng the plan from POL to POR. I'm happy just to sit tight and see what happens, either way
Lol, might be important.. No mention of NOLs in this latest POR but I'm sure they haven't forgotten them;)
RSR, Sept 27 hearing to confirm the POR.
I agree 100% and the point about the deterioration should be emphasized on this board. FAZ/FAS are not investment vehicles.
About your other point though, if the Euro leaders don't come to some agreements pretty soon---there should be more downside to RIFIN. The markets don't look capitulated to me with no meaningful resolutions yet.
Let's see what happens next week!
Thanks Porgie, yes big deterioration.. FAZ definitely a very short term hold! Of course holding for weeks on end would defeat the object of capitalizing on the big $RIFIN down days.
Yes, I was holding FAZ all day yesterday (with a finger on the rip cord) up to about 3pm then went into TZA. Still in TZA now:) I find with the 3x it actually makes sense to have a position overnight otherwise one can miss out on gap gains.
If anyone hasn't been watching SPY, Ben has their significant attention now!
Some chartists have been mentioning the likeness of now to '08.. I'm sure the bernank was thinking about saving what he had left for the big drop.
GM Stuffie, world markets all DOWN this morning! As you say, FUGLY
And TZA gets it! ;) Poster day for the 3x for sure Stuffie.
DRV outperforming TZA and FAZ today. em
here's one twit i saw:
Faztastic... MCO downgrades BAC and WFC.
Thanks Bowman.. Yes, I belive Ghei is also a possible director of 'new corus'.
The Stock Sage: http://www.robertsinn.com/
GM Stuffie:) The game changes so quick, in fact Europe is up right now!
All's good!