I've got no clue what the stock would be worth if they were bought out or emerged from bk, but honestly... even if it was only .25 cents per share (that's not what I think would happen, but again... I've got no clue) it would be way better than nothing.
That having been said, this has been a PR nightmare for WMI. I can't see many parties lining up to dole out big bucks for a chance to buy into a company that has been demonized to this degree.
Sure, if they could cancel the shareholders out of the equation, it's an option they could look at. But who they heck would trust them enough to invest in them, not only because they just ran the ship into the ground and look as though they had to be seized, but also because they screwed over the shareholders as an effect of that idiocy.
I wouldn't touch new shares with a 10 foot pole. But, I guess there will always be people with short memories and deep pockets, so that's just me.
But as in any case where there is a lot of money involved, if they can get rid of the common stock, the new stock would be worth much more to those who would get it and the common stock would win the battle but lose the war.
And I don't mean to post "feel good" crap to gloss over the issues here, which are HUGE. I kinda hate that kinda drivel and I know that's probably how this is coming across...
So everyone take note. I know nothing about anything. I'm just spitting my opinions.
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