Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Dan Duchardt who wrote (1904)	8/30/2001 8:13:47 AM
From: Art Baeckel	Read Replies (2) of 1911

Good morning Dan! I don't have a lot of experience with stocks that go Chapter 11 that I've owned. I do know that the last time Ettore $crewed the shareholders in the reorganization. Legally they can start all over again and the stock that yah now own will become null and void. He did that the last time. It never made sense to me that a company can do that and keep the same "namesake" without deviation. On the outside it looks like no one lost their shares. Buttttt, in reality there were new shares issued. So if these shares trade again after the SEC gives the ok we will have an important decision to make. Whether to hold or sell! If Ettore continues his reign at AMES I don't expect for him to ever get another Chapter 11 by the courts. It's unusual to get a second chance at it. The next time it will be Chapter 7 and AMES will be history IMO. I hope they survive but it doesn't look good. I owned this stock up almost to $30. At one point I owned over 30,000 shares. I lost big time this time around. I sold the majority of my shares around $1.00. Good luck with your choice. ART

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