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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Kelvin Taylor who wrote (38292)	2/7/2002 11:48:46 AM
From: Larry S.	Read Replies (2) of 53068

bankrupt companies. most wither and die. bondholders get equity in new company and existing shareholders get squat. Covad i believe is an exception to the rule. Ames, a retail company, has filed twice. I'm sure there are a couple of companies that rose from the ashes to become successful companies again. The only one i can think of is Texaco, which filed to protect itself from a huge court judgement involving a merger. Owens Corning filed becaus e of the ton of rubber titty suits, but is a successful business now that chap 11 has sheltered it from the lawsuits. In fact, bankruptcy as a legal shield from asbestos suits, might be a very smart move for some companies. personally, i would steer clear of all bankruptcies. strong market rally today, AOL participating, TYC strong, COF and KRB strong in credit card companies. there is hope. larry

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