15 Companies That May Not Survive 2009

[BoyGenius]

It should get a new symbol with a Q on the end shortly.

I should have said this above, but in all the recent bankruptcies, if you can catch the stock as soon as it begins trading with the new symbol, there's a huge chance of doubling or tripling, your money within the first two days. I'd be leery of holding it long term though because if they turn a chapter 11 into a 7, you're toast on the new symbol too, but that takes weeks or months to play out.

Look at the price history of Circuit City as it began trading again on 12 Nov.

Historical prices for CCTYQ (Circuit City Stores, Inc.) - Google Finance

You'll find the same behavior by analyzing the Tribune bankruptcy.

TRBCQ - TRIBUNE CO 2% EXCH 2029 - Google Finance

 

[Tilted]

One thing's for sure - it should be an interesting few days in regard to this stock. I suspect the timing of this release is to try and force someone's hand. No clue if it will work, but I'm not counting on it. I'll just be glad to get the issue off of my plate finally.

 

[BoyGenius]

One thing's for sure - it should be an interesting few days in regard to this stock. I suspect the timing of this release is to try and force someone's hand. No clue if it will work, but I'm not counting on it. I'll just be glad to get the issue off of my plate finally.

That's why I posted that bankruptcy link yesterday. I wasn't trying to insult anyone's intelligence, but you watch all the dummies tomorrow ask: "what does this mean for me as a stockholder?" It happens every time.

 

[Tilted]

That's why I posted that bankruptcy link yesterday. I wasn't trying to insult anyone's intelligence, but you watch all the dummies tomorrow ask: "what does this mean for me as a stockholder?" It happens every time.

Yeah, certainly a lot of people play with money and don't have a clue what is going on. But, from an earlier post, TWL seemed to have some knowledge of the situation - so I give them the benefit of the doubt that they weren't clueless about it.

 

[BoyGenius]

Time to close physical locations and solely 'rent' their wares on the 'net. Posibly even 86ing renting of physical media and start renting VOD. Team up with DirecTV, Comcast, Verizon FiOS, etc.

That "someone" buying the debt is Charles Ergen of EchoStar and Dish Network. The fate of Sirius XM is pretty much up to him. Is he loaning to keep SIRI afloat or is he after acquiring the satellites/S-band spectrum at low market value? I'm betting on the former and bought in @ .13/share.

They're probably toast, but you might enjoy this comment today:

"And even if Sirius XM CEO Mel Karmazin gives in and strikes a deal with Ergen, the most plausible outcome is that Ergen converts his debt into an equity interest in Sirius XM -- which would dilute the stake of existing shareholders."

Is Sirius XM seriously toast? - Feb. 11, 2009

 

[Tilted]

Sirius has reached a deal with Liberty Media which should allow them to avoid bankruptcy proceedings for a while, and avoid what might have amounted to a 'hostile' take-over by Ergen.

Sirius is certainly not out of the woods, and their stock is still highly speculative. However, of all the myriad possibilities that existed, I believe this was the best plausible outcome for shareholders. Once again, Karmazin looks like a magician. Whether or not he can keep up those appearances, I guess we'll see.

 

[Warron]

Blockbuster. (BBI; about 60,000 employees; stock down 57%).

Blockbuster killed themselves years ago when they thought it was a good idea to let people keep movies as long as they wanted with no penalty. As a result, they never had any new releases on the shelf while they were still new, and alot of poeple, including myself, never went there again.

 

[Tilted]

15 Companies That Might Not Survive 2009 - Yahoo! Finance

Six Flags. (SIX; about 30,000 employees; stock down 84%). This theme-park operator has been losing money for several years, and selling off properties to try to pay down debt and get back into the black. But the ride may end prematurely. Moody's expects cash flow to be negative in 2009, and if consumers aren't spending during the peak summer season, that could imperil the company's ability to pay debts coming due later this year and in 2010.

They've just made Chapter 11 filings. The bankruptcy reorganization is not expected to affect the operations of the various theme parks they own.

 

[somdrenter]

Extended Stay Chain Files for Bankruptcy, Hit by Debt (Update3)

By Bob Van Voris and David M. Levitt

June 15 (Bloomberg) -- Extended Stay Hotels, the operator of mid-priced hotels acquired at the peak of the commercial real estate market for $8 billion, filed for bankruptcy protection as the recession cut corporate and leisure travel..

Extended Stay Chain Files for Bankruptcy, Hit by Debt (Update3) - Bloomberg.com

 

[Tilted]

That "someone" buying the debt is Charles Ergen of EchoStar and Dish Network. The fate of Sirius XM is pretty much up to him. Is he loaning to keep SIRI afloat or is he after acquiring the satellites/S-band spectrum at low market value? I'm betting on the former and bought in @ .13/share.

Are you still holding a position in SIRI? It's had a nice little run over the last 6 months and is trading around 56 cents/share this morning, despite significant dilution from the Liberty Media deal.

Liberty Media's John Malone made a killing off of that deal, and looks like a genius now.

 

[TWL]

Are you still holding a position in SIRI? It's had a nice little run over the last 6 months and is trading around 56 cents/share this morning, despite significant dilution from the Liberty Media deal.

Liberty Media's John Malone made a killing off of that deal, and looks like a genius now.

Shh! the wife doesn't need to know how much I've made on this jem.
I just hope it gets to $1 soon to avoid a reverse split.

 

[SoMDGirl42]

Oh my, I have a friend that works for Bearing Point.

I have someone who kicked me off their myspace page and snubs me in public who works at Bearing Point, lols.

Did your friends loose their jobs when the Bearing Point here at Pax got bought out by Deloitte?

 

[toppick08]

Got to love to dislike Union labor.....:

...cha ching..



Nucor Announces 148th Consecutive Cash Dividend
CHARLOTTE, N.C., Feb 24, 2010 /PRNewswire via COMTEX/ -- The board of directors of Nucor Corporation (NYSE: NUE) declared the regular quarterly cash dividend of $0.36 per share on Nucor's common stock. This cash dividend is payable on May 12, 2010 to stockholders of record on March 31, 2010, and is Nucor's 148th consecutive quarterly cash dividend.

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and non ferrous scrap. Nucor is North America's largest recycler.

SOURCE Nucor Corporation

 

[BuddyLee]

That's interesting about Crispy Creme. I was looking in SFW for some of them last night and we don't sell them anymore.

 

[toppick08]

That's interesting about Crispy Creme. I was looking in SFW for some of them last night and we don't sell them anymore.

That's because the best doughnuts are hand flipped.............trust me.....

 

[Tilted]

Yeah, I know, I've been trading SIRI for quite a while.

It seems we're hoping for the same thing. SIRI has been a spec play for me of late, as opposed to a trade. Huge upside, but most likely to be worthless. Frankly, I don't think it will remain afloat in its current form, and I'm concerned that shareholder equity will be wiped out. But, I'll be delighted to discover that that isn't the case.

It's still possible though, that Karmazin can secure new financing - in which case Ergen will make a nice profit, but not have significant control over the fate of the company. I'm not banking on the that, but it's a possiblity.

Just crossed the wires - NYT is reporting that Sirius is working with advisers to prepare a possible Chapter 11 filing.

Down to $.06 in after hours trading.

Sirius has reached a deal with Liberty Media which should allow them to avoid bankruptcy proceedings for a while, and avoid what might have amounted to a 'hostile' take-over by Ergen.

Sirius is certainly not out of the woods, and their stock is still highly speculative. However, of all the myriad possibilities that existed, I believe this was the best plausible outcome for shareholders. Once again, Karmazin looks like a magician. Whether or not he can keep up those appearances, I guess we'll see.

Are you still holding a position in SIRI? It's had a nice little run over the last 6 months and is trading around 56 cents/share this morning, despite significant dilution from the Liberty Media deal.

Liberty Media's John Malone made a killing off of that deal, and looks like a genius now.

Sirius this morning: Bid 1.67 Ask 1.67

Sometimes spec plays pay off.

 

[MMDad]

Sirius this morning: Bid 1.67 Ask 1.67

Sometimes spec plays pay off.

I offloaded my shares when the value doubled, some in Oct. '09 and the rest in Oct. '10. I've missed out on a decent rise, but I set a target and stayed with the plan. It's tempting to gamble sometimes.....

I did the same with my Ford stock - bought at $2, sold at $7. It's more than doubled again since then, but I made what I set out to make, and more than made up for my losses on GM.

I don't think it's a good idea to hold Sirius long term. There are a lot of things that could hurt their ability to deliver, and I don't believe that it has much more market left to capture. They'll probably plug along for a few years though.

 

[awpitt]

Sirius this morning: Bid 1.67 Ask 1.67

Sometimes spec plays pay off.

...and Stern signed on for another 5 years.

 

[Tilted]

I offloaded my shares when the value doubled, some in Oct. '09 and the rest in Oct. '10. I've missed out on a decent rise, but I set a target and stayed with the plan. It's tempting to gamble sometimes.....

I did the same with my Ford stock - bought at $2, sold at $7. It's more than doubled again since then, but I made what I set out to make, and more than made up for my losses on GM.

I don't think it's a good idea to hold Sirius long term. There are a lot of things that could hurt their ability to deliver, and I don't believe that it has much more market left to capture. They'll probably plug along for a few years though.

I've been selling my shares of SIRI as the stock price climbed, and missed out on quite a bit of upside as well. At this point, I'm holding a relatively small amount. I won't disagree with your general thoughts about it going forward. It really was a spec play - I thought it more likely than not that it crashed and burned, but the upside relative to the downside was enough to justify the play, in my opinion.

The same goes for F, I've sold a good bit of it already, but still hold a little. As for GM, I never touched it - but I'll comment more on it in response to your posts in that other thread when I get a chance. I wish you hadn't taken such a hit on it.