Patriot Coal Corporation (fka PCXCQ)

[marijuanavest]

I just sold some Patriot Coal. I still own a position from a while back (bag holder) as my son works for the company. When we saw the Union news hit I thought it was a positive for the company and us shareholders but my Son tells me it is actually a negative and that the plan of reorganization does not include anything for the old equity holers.

The problem is, as my son tells me - that the company has liquidity issues and is draining its cash resources. So the plan that gives the unions 40% of the equity and the debt holders 60% leaving us with nothing.

I think longs should take this opportunity to do your own due diligence as there is a lot of crap being spread on the boards.

I am generally not one to participate in these conversations.