I get we should have a Book value for existing shareholders of arround $4.73 in a now very much improved deal.20% of 71 billion equity / 3 billion sharesWith the swap of loans for CAPITAL of $40 billion they should pull an upgrade back to AAA from rating agencies.They will survive and prosperhttp://www.sec.gov/Archives/edgar/data/5272/000095012308014821/y72212e10vq.htmhttp://www.sec.gov/Archives/edgar/data/5272/000095012308014821/y72212e10vq.htm
The "book value" gets attributed to the 80% owner of this FIRST. Common gets the left-overs, if any.
There very well may be more deals in the works because by law the company can't just make these decisions and neither can government. With the finance laws in hand the commoners will get something more in the end, IMHO. Any thoughts anyone??
At over nine dollars loss per share reported this morning, your book value has too many empty pages to be trusted.
Total BV AFTER the loss is $23.67 .20% of that is $4.73.