Duke,
I should have gotten out after the R/S - I would have done very well on my investment at that point. I was a dreamer - I thought the R/S was to improve the company - I never thought that they wanted to steal my money(gains).
I agree, it was a scam, if they knew they were going BK what purpose did the R/S serve? I think management just wants the positive stuff to go forward while screwing shareholders and creditors. KINDA LIKE GM screwing everyone so they could be a ward of the state. They, and Uncle Scammy, hosed everyone. They didn't feel obligated to honor their debts but they felt entitled to the carryover tax credits from what they claimed was a BK co.
Unfortunately it seems the odds(and our govt) are against the honest people. The deck is stacked and the govt is shuffling laws to suit their desire for a "common good" society where Uncle Scammy decides the laws based on their Union dictates. I cannot see the strings, but I know a puppet when I see one.
Sorry for the rant - I'm stuck until the end on this one.
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