If WCOME files for BK, wouldn't shareholders still hold their stock in the company, all be it that the stock could diminish to .01??? I recall someone mentioned COVD which I believe is in BK, but still trading around a buck!
What Bushman said about COVD is correct but I must caution you that COVD's the exception in BK, not the rule.
So,if WCOME does go BK and shareholders still hold whatever stock they have, then isn't possible that the company eventually turn around???
Its possible but I think it will be a tough road. In any case, until the true financials of WCOM are known, any speculation on this issue would be just that.
And if BK, I would assume that Mr. Ebbers would lose his perks; i.e., 1M for life, plane, etc.
I would be really surprised if a BK judge went along with Ebbers benefits.
Regardless, I do hope that Ebbers and Sullivan be given appropriate legal justice...behind bars if current law can convict!
I don't know if the current laws are strong enough to put them behind bars. That's why Congress is talking about passing a whole new set. However, an attorney would be better able to answer that question.
ted |
