Replies to post #61019 on Chemtura Corp (fka CHMT)

[BBalls-N-CowTown]

Formula's are easier than putting the correct numbers in them. Rubber numbers based on things like tort liability can create whatever story you want. "Figures can lie and liars can figure" to quote an old boss I had once.

[BetweenUnemployment]

Hey, JW, where do you get your 40 cent figure? I'm interested because I've been accused of being you by a few different posters on the WAMUQ board...not sure if it was because I was trying to throw some perspective into the mix or because I do my homework. I view both as necessary when speculating in BK stock. Based on the article linked by aquagoldandbeyond (http://seekingalpha.com/article/210775-chemtura-plan-will-shareholders-object), thanks BTW, it seems like a lot of people think this stock might be over-valued. I personally view it as a win that common is even addressed in the JC11 Plan and DS as more than "Estimated Percentage Recovery: 0%." That article uses a lot of back-of-the-napkin math, uses an unheard of 12x EBITDA, assumes that the 5% is not going to get immediately further diluted, and comes up with 60 cents. I just started looking into this stock this a.m., so please call off the dogs that are going to say "DO YOUR DD!!!," but it looks to me that this was, at least at one time, a solid operating company that got overleveraged in big way. Are there any hardcore number crunchers on here that have pro formaed out the new company’s balance sheet or other financials, taking into consideration its consolidated subs (and other, non BK JVs)? I’m about to pore over and dig into its financials but if someone has already done some heavy lifting and cares to share the fruit of his/her labor, feel free to point me in the right direction.

-BU