Spectrum Brands Holdings Inc (SPB)

[bman007]

Spectrum and CEO Hussey have proposed a restructuring plan the eliminates the common shareholders. However, there can be objections filed and it doesn't happen unless all note holders agree and if the BK judge agrees. I agree that many CEOs are taking the easy way out becasue they can use the economy as the excuse for BK instead of the poor management. Yeah HUSSEY we're talking about you!!! He was telling shareholders along with IR lady, that all was good and that there was plenty of cash flow to get through recession. As we've seen in the last few months, corporate America can NOT be trusted!!! They are worried about protecting their butts versus protecting shareholders. They should all be shipped to CHina where they take bad managers out back and let them have it!! LOL