everett7 you could be correct. My guess however is that any change to the debtors plan as presented will be very minor. In the interest of fairness I will also say that I have sold most of my shares based on my current thinking.
Looking back, I continue to kick myself for seeing the obvious selling from $1.45ish on down and not acting upon it. My guess is that the real turning point for equity was when the EPA came back to the debtor and wanted to renegotiate the deal they made in December. I don't know when that was exactly but I do remember a comment in a Bloomberg article about taking a discussion into chambers during court one day so as to not have news affect the markets. At the time we speculated what that might be and what markets might be affected. Now I think the reason for the chambers discussion was due to the EPA coming back to the table and the fear (correctly so) was that the news would affect both the equity and debt prices. The bonds if you recall were trading in the high 130's for awhile. The EPA essentially squashed everyone.
All this is just my current take on things. I've been wrong before...obviously.
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