Replies to post #10212 on Lehman Preferred Series "J" Preferred (f

[uhlmant]

we may also see updated financials. Wouldn't that be nice? I think people need to be prepared for an initial assault against common and preferred shares. I am aware of the NOL issue and having to 'preserve' ownership. However, they've spent 500M to figure out a way to get around every obstacle thus far. It is possible that their opening shot is not favorable to preferred shares. With that said that is why we need an EC. Furthermore, every stock I've tracked that eventually got an EC had some sort of issue where management tried to minimize the value of the estate to ensure that ownership got nothing. It is the job of the EC, a good judge, and good trustee to ensure that we get a fair shake. Most opening shots at reorg are in favor of BONDHOLDERS. Don't be spooked. After the first reorg plan comes out ....there will be many many changes. Its not like Lehman is exiting BK next week. STAY STRONG