The Contrarian

[lostcowboy]

Hi Aim hier, I hear you I do. When I found ACK, now ACKHQ, it was at $15, dividend yield at 12%, sells growth at 25% a year, only had 50 mil in debt. But they had lost a class action suit for Asbestos. At the time it looked like they could pay the claims in four years. They also said that they had no plans of cutting the dividends. At that time I recommended it as a stock that could be AIM-able. After three payments at that high dividend yield the CEO retired, the dividend was stopped, they did not pay or renew the 50 million dollars of debt. This let them declare bankruptcy, while in bankruptcy they got the courts permission to sell off all the devisions that were making money, the number of claims against them skyrocketed. I am sure that by the time they come out of chapter 11 their will be nothing left to pay ether the claims or the shareholders.
http://www.armstrong.com/armstrong_home.jsp