big difference between 'out of business' and 'equity worth zero'. Ford ain't gonna shut down, any more than KMart or Worldcom shut down, but the equity ain't worth a thing.
i actually have more than just two 'bastions' of American Business as you so colloquially put it going to nil. in addition to Ford and JPM, there is AT&T, Sears, SBC, Delphi, Visteon, Toys R Us, Delta, Marriott. yeah i know, it'll never happen. exactly what i heard all over SI when i insisted that the equity of Enron, KMart, Worldcom, USAir et al were going away. or the beloved lenders like Conseco, Metris, Providian, NextCard. or that great re-insurance company Mutual Risk Management. hey, you seen ACF's news tonite? losing money and doing a 30% dilutive equity deal through a relative unknown investment bank is good news right?
we shall see.
Cheers |
