Comdisco was a classic rags to riches to rags story of a Greek Chicago man who built the company into a leasing powerhouse only to watch the finanacial condition of the company deteriorate under the tenure of his son who tried to turn it into a dot.com incubator during the bubble.
However since reemerging from bankruptcy the prospects of the company have reversed course and Warran Buffett's Berkshire Hathaway has recently taken a position in the company.
Rosemont, IL- February, 14 2003 - Comdisco Holding Company, Inc. (OTC:CDCO) today reported financial results for its fiscal first quarter ended December 31, 2002. Comdisco emerged from Chapter 11 on August 12, 2002 and the reorganized company previously reported financial results for the year ended September 30, 2002. Under its Plan of Reorganization, Comdisco’s business purpose is limited to the orderly runoff or sale of its remaining assets.
Comdisco Holding Company, Inc. was formed on August 8, 2002 for the purpose of selling, collecting or otherwise reducing to money in a orderly manner the remaining assets of the Company and all of its direct and indirect subsidiaries, including Comdisco, Inc. As more fully described in the Plan, the Company's business purpose is limited to the orderly sale or run-off of all its remaining assets. Pursuant to the Plan and restrictions contained in its certificate of incorporation, the Company is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose.http://www.sec.gov/Archives/edgar/data/1179484/000095017203000507/ch373565.txt
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