Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: molemania who wrote (895)	11/29/2001 1:24:04 AM
From: Bob Rudd	Read Replies (1) of 1433

<<what is the point of buying ENE here?>>if you are clever and quick enough to outguess your fellow traders, you might make a few bucks on a bounce. <<If you bought and hung on and they made it out of reorganization would you have any viable shares?>>The likely outcome is that the shareholders are completely wiped out...or they share in 2% of the reorganized entity...If there is a reorganized entity...they may just sell parts and split it among the creditors. Enron bonds are now trading at .25 on the $ and they have higher priority than the common and preferred. Meaning that barring some special negotiation, they would have to be made whole before the shareholders get anything. Does .25 on the dollar indicate they expect to be made whole?

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