The 3 biggest debt holders per the bankruptcy docket as of May 7 2013 are Blackstone (135 millions), Contrarian Capital ( 152 millions), JPMorgan Securities 25 millions). So I will never invest any 401k for my companies In Blackstone, pull money from Chase (so many banks anyway), call Contrarian in Greenwich. It seems they have a beyond greedy attitude here and insist on getting paid fully, take control with AP collaboration and squeeze the shareholders who have done nothing wrong. The only thing to be cancelled is AP while with his friends in big mutual funds kept control to the end, to the detriment of small shareholders, not organized who had no voice. I urge all to call these three companies and say we pull money out. All info is on Ihub.
honestly, it is a very small part of my portfolio, marked to zero, What I do not like is Blackstone, JPM often working with Blackstone (big client) and Contrarian try to steal the company and have the stock cancelled just for unjust enrichment and bigger houses in the Hamptons. Just a bunch of p*gs. Very happy today to call my pension consultant (mercer) and tell them I want Blackstone out of any 401k choice for myself or any employee. Just do not like their business methods, AP working with them, probably promised a ceo job for 2 years and 20 millions. Equity committee needs to be set up. Distressed debt holders who bought debt within one year should have the same recovery rate than shareholders. Why not? Give them 100% is uconscionable