AbitibiBowater, Inc. (fka ABWTQ)

[exlud]

I hope the judge takes notice of this in particular:
“Confirming this plan will set a precedent for other companies to treat shareholders in this manner, which may very well undermine the confidence people have in this process,” wrote Dr. Henry Romero in a letter to the judge.
At first I was shocked at the audacity of management suggesting that they should receive 8.5% of equity coming out of this process while the shareholders are given no consideration. Then I was dumbfounded that the court would actually consider this a viable plan.
While shareholders may be further down on the food chain, it seems to me that those who led the company to this point should be lucky that they even keep their position never mind being given equity in the newly formed company.