The Calhoun plan does not specifically address restructuring. The past and the present... along with all existing stakeholders aside from the govt is irrelevant to Calhoun.
The plan doesn't care for any of that. It just laser focuses on the end result of 100B and it doesn't matter how it gets there to him.
Yes I too want a utility model -- return average between 10 year bond and equity over time with high dividends ---- and solid dividend increases year after year and sort of regulated minimum profit
but
Did the Calhoun plan kill the SP and LP ? Or does it too assume that this mega billions (200B?) is still owed and would convert the SP/LP to common ?
along with nothing changing for 100 years - the largest fear is a conversion of the LP/SP to common and then reverse spilt that takes our 100 shares to 1 share each
IMO WTS are great way for GOV to cap total stock at 5B - raise capital - and we have 25 a share