lent - You missed the most important part of my post, I bought on 5/4. Why would I buy then if I believed they would BK? Because the PPS would rise with the announcement? We all know that didn't happen! If you still want to use your flawed analogy that's fine (although it doesn't make sense and in itself indicates nothing) but it only explains my absence from 5:48 (RB time) on 5/3 on cause here's the most important fact - checked my cell records. On May 3rd, 2:48 local time, 2 hours after the close, I fielded a call from Michigan re: BW is a jerk and CTC is gonna file for BK.
Don't forget, CTC had to release a PR the day after BK as the BK PR did not specifically say the shareholders were protected. The original BK PR only mentioned Debenture Holder protection and Creditors. Normal folks, me included, don't realize SH can be grouped in with Creditors. There was a statement that said relationships with SH were important but nothing that gave me comfort. So, on BK day after the market close I was able to reach BW and he assured me the SH would be protected. During this call I informed him that someone called me on 5/3 to slam him and discuss BK. He thought that call was odd because that same caller called him on BK day to say he was a big buyer, big supporter.
AI
