Patriot Coal Corporation (fka PCXCQ)

[frankj]

I fully agree. Here is the link I was mentioning yesterday:

http://data.cnbc.com/quotes/PCXCQ/tab/8

as of right now, the total number of shares owned is 2.5 million.

As you mentioned, that's NOTHING. They could easily tell those 2.5 million holders, in which over 1 million of them is held by management themselves, that they will get shares in the new company. I believe a lot more is held by union works and retirees already.

It appears that former CEO and another manager own a lot of shares, and it may look like they bought it with their own money. Since it shows you the number of shares and what the value was at the time they bought.

for the former CEO he has 444.8k shares valued at 2,775,340. That would mean he had bought shares at an avg price of $6.24 per share.

I would think former CEO and the other upper manager Whiting (Richard M) who has 525.3k shares valued at $3,277,822 with avg price of $6.14 per share, would want to KEEP those shares as that is a lot of money

I know people mention that management will be getting new shares in the new company anyways, but I highly doubt the former CEO will get those back. Plus, if these guys bought these shares with their OWN money, then I don't think they will get those at all in new company. Only what they were awarded.

JMO