Patriot Coal Corporation (fka PCXCQ)

[Tomstocks]

WOW, This looks like good news depending on the percentage of new stock and rights offering, as my lawyer friend who looked over the doc the other day, as I mentioned in that post said; "they are using language leaving it open to have many options". He said when they start over they dont wanna be plagued with shareholder class-actoin lawsuits which will hurt the liquidity in trading. Even if these institutions get in an 13f investors, you still need the retail investors. Through past experience I have seen when they do offer a right offering and new common, it usually starts out around the PPS of the senior notes (2018's are trading in .50s cent range and maybe thats why we had the runnup to just above that mark. The big guys who work these deals and help back them wouldnt pay more than that (senior notes). I know. 50 cents doesnt bring it close to where some long- term people need to get back to but its better then nothing and a good place to start. We will know soon!