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PG&E Corporation Message Board

  • abushwhackedeconomy abushwhackedeconomy Apr 27, 2001 2:48 PM Flag

    Are stockholders fricking nuts????

    ...for continuing to hold on to their positions? What chance do they have of recovering anything? My guess is they are on the bottom of the priority stack.

    Does anyone have memories of anyone coming out of BK and still holding stock worth something more than toilet paper? I remember Continetal Airlines going into BK and coming out but the stock became worthless.

    Why is PCG any different?

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    • "Does anyone have memories of anyone coming out of BK and still holding stock worth something more than toilet paper?"

      First off, PG&E Corporation has not filed for bankruptcy. Only it's utility unit, Pacific Gas and Electric Company has filed.

      But since you asked for an example, how about Texaco filing for BK in the 1980's. Currently trading around $73 - last I checked, that's significantly more than toilet paper.

    • PCG is not in BK - PGE is. Big difference - they put a fence around PCG. Also NEG (National Energy Group) is worth about $12 a share (according to analysts) and Glynn has stated a spinoff possible.

    • Probably!
      Nobody made anything on PCG, so they rather wait and hope.

      Q1 results will be announced in early May. You will see more write off. Book value this time will decrease to around 4. This stock is always is traded around book value and might drop after Q1 results. Buy long term PUTs on strength and wait it out. PCG will go to zero within one year. It will be bumpy, but we will get there.

      http://biz.yahoo.com/cc/3/5943.html

    • "What chance do they have of
      recovering anything? My guess is they are on the bottom of the priority stack."

      In a Chap 7 situation where the company is being liquidated you would be quite correct. This is Chap 11 which is a reorganization.

      PCG is a special situation. If you want to know why, you could review some of the previous postings. Or you could pay someone to do an analysis for you.

 
PCG
47.14-0.02(-0.04%)Jul 23 4:02 PMEDT

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