That may be but you invested in the company knowing who management was and who the board was, so now you have to live with that. They represented you then and they represent you now.
I guess you do not know that management and the BOD is suppose to be representing the shareholders---they are the officials of the company and they work for the shareholders. That is why there is typically not a committee for the shareholders. In the few cases where a shareholder committee is formed it is when the trustee believes the shareholders are not represented.
Please report back to the board what the trustee says regarding your e-mail.
Every Friday Tim Cook makes out a deposit slip for $1.1 billion dollars of after tax profit. 'nough said. He has done that so often that Apple has about $130 billion in cash.
Does signing a petition create money to pay shareholders? Or does signing a petition cause the judge to take money away from the unsecured to give to shareholders?
RG, you are one of the silliest people I have heard of on a message board. You believe that signing a petition has value? Please stop posting.
Is Buffett selling? No, he is not. So you cite him and he is not selling. In fact he just bought a battery company. So why should we sell?
Now it is gonna have its pre-Christmas rally. Then its pre-Valentines day rally. Then its pre-Mothers Day Rally. OH, you get it.
Ronald Reagan did exactly the same thing ---giving 40% of illegals legal status. George Bush did the same thing. Giving 40% of illegals legal status ---1.5 million illegals. This was done with an executive order, just like Obama is doing. For the Republicans to now say Obama cannot do this is purely stupid and hypocritical. Do you posters know nothing about history? Can you do no thinking for yourself? What a silly group.
He is #$%$sking everyone to w#$%$it for #$%$ report th#$%$t gives #$%$n #$%$ltern#$%$tive route for the line th#$%$t will not polute the #$%$quifer in c#$%$se of #$%$ le#$%$k.
All of th#$%$t requires #$%$ three digit IQ. Sorry you do not qu#$%$lify.
Way too simplistic. Do you really think every bull market ended when the jobless rate hit a new low. Take about 5 seconds to think about that.
mjdus. Please do not post when you don't know what you are talking about. There will be a sharehoder committee and it has nothing to do with what the equity is. If the financials show that there is negaive net worth or $1 billion net worth has nothing to do with the shareholders committee.
All classes will have representation.
The greatest possibility is the current equity holders will get a small piece of the new company---I would guess $.20 to $.50. There is a possibility that someone with new management and capital will come in and make an offer: something like---"we will bring in new capital, pay $.70 on the dollar for the unsecured, $.90 on the dollar for the bondholders and about 70 cents per share for the old stock. I would give that a 20% chance. That is assuming that GT really does have a product worth developing and the company has been too damaged by the filing.
You guys are getting way ahead of yourself. All claims have to be sorted through and verified. All payments 90 days prior to filing have to be studied to see if some companies got special payments and if so they have to repay the money. Ever class has to be assigned an attorny and a committee formed for each group. After all of that a balance sheet for the finance position of the company on the filing date has to be filed and verified by a special CPA firm, etc etc, etc.
I suspect the hearing on Nov. 25 is just a check to see that things are moving forward.
After all of that the judge will give management an exclusionary period to file its own plan. Thst keeps every fool in the world from filing a plan and getting everyone all excited about nothing. That should be about 6 months from now when management files its plan. Then there will be arguements about what that plan looks like and if that will get the creditors the most money. The plan has to show that reorg gets more money to the classes than liquidation.
After all of that the different classes will argue that they should be getting more. Finally all classes must vote for the plan. If that goes on and the classes can not agree then the judge can do a cramdown, forcing all classes to accept the plan. ( This is the point where old equity is give a little bit so they will vote for the plan.
Now , who in his right mind believes that is gonna happen by Nov. 25th?
That is boiler plate language. The equity is the last to get paid, no matter what GTAT or the attorneys say. By the way, current management will not be around when GTAT emerges. They are who put GTAT in this position.