There was a poster once by the name of justthefacts. I wish we had an unbiased program poster that posted just the facts. So much confusion, I am sure some is legitimate, but you never know.
Just the facts:
A123 filed for chapter 11 protection.
The company has never told us their plan for reorganization.
The sale price is "reported" as $260 million for the auto portion and 2.75 for the military contracts.
The debt is "estimated" at $375 million plus.
The winning bidders are reported to be Wanxiang and Navitas Systems.
The sale is of assets, not the company.
The sale must be approved by the judge.
There is stated political opposition to Wanxiang.
One news report stated that "the Company does not anticipate any recoveries for its current shareholders and believes its stock to have no value." But that is not a quote from a company official. The AONE website has no press release on the sale.
Any facts (no opinions or name-calling) that I have missed?
Opti
Hebrews 11:6 And without faith it is impossible to please Him, for he who comes to God must believe that He is and that He is a rewarder of those who seek Him.
