Ampex Corp. Message Board

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Technology Stocks : Ampex Corp.

AMPX 13.87

-1.7%

10:55 AM EST

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To: Harvey H Anderson who wrote (5778)	11/17/2008 11:09:35 PM
From: Myothername	Read Replies (1) of 5839

Harvey, Thanks for the info about contacting the company etc. I asked the original question and have a bit more information. Basically, you can take the write-off when the asset has no value. Right now, I think the Ampex shares have a value, however remote. We are supposed to receive CPR documentation. But that will be sent to registered shareholders or those who continue to hold the shares with a broker. My broker suggests selling the shares to them for zero - in which case they will own the CPR rights when they are issued. That would let me take the loss now. As an alternative, they sent a form that I could use to declare the shares valueless and have them removed from my account - but they warned that what I perceive to be valueless may not be valueless. I don't think there is any risk in letting the shares sit in the brokerage account with no market value. If the CPR's arrive someday, maybe then I can get rid of this bad memory. As you might expect, I do not have much use for more write-offs this year ... and maybe not even next year. So, I guess I will just wait and watch some more - been doing it for a long time with this stock. Dick Wyman

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