Not one person outside of the company has any clue what will happen to the commons...as you know were they to go belly up Stockholder's are always the last to get paid....
This bankruptcy definitively did not come about due to them going belly up...it's a Chapter 11 vice Chapter 7. It was brought about due to a 374 million debt due in the Summer that they knew they would have trouble paying for with Cash and still being able to pay salaries and Costs of goods sold. So instead of stressing and rushing a sell of a profitable arm of their company at a discount price to a cash strong vulture competitor...They took a deep breath, entered Chapter 11. Secured financing...are able to pay their summer time liability. Then are able to negotiate a fair value price for one or several branches of their business. Remember they are made up of 8 divisions with Revenues (Not Profits) of Multiple Billions. 5 divisions are profitable 3 are gluttons of pain (realistically due to the economy more than lack of business savvy) If you sell chemicals to Car companies and GM, Chrysler, etc go Bankrupt and don't sell a car for 10 months...what happens to that Chemical division? Chapter 11 is what happens.) Bottom line, to answer your question. More than half of the Company is not in Bankruptcy, AND they will be in Chapter 11 for a minimum of 2 months...We will all have plenty of time to learn the fate of Shareholders with respect to commonstock in the June meetings. Meanwhile we ride the asset sale, return to normality, and Rogerson as the CEO Train to more Green than any of us have seen in months.
Cheers...
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