no, i don't think that. i'm holding 40k shares and i do think commons will survive in some way which is why i'm still holding.
my basis is .232 so if it gets flushed it's a scratch, not a cut, a wound, or anything fatal for me.
i still look at all of the stock esl/lampert and his other entities own and even though he might trade his debt for shares in newco (transform holdco) why wouldn't he want to get additional consideration for his commons? with only 109 million shares outstanding and he and his entities have control over 70+% of those shares, he's not giving up much to have ALL commons preserved, again, in some fashion.
also seems retaining all or a portion of the nol's is linked to common shareholder survival.
if you decide to hold on until certainty is obtained, the rush to the exits if commons are screwed will probably mean a severe buzzcut.
that could all happen this week if esl's bid is not approved by the court. even if esl's bid is approved it will probably be weeks and weeks before a por provides any certainty.
