Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Sir Auric Goldfinger who wrote (11619)	5/9/2003 12:34:44 PM
From: RockyBalboa	Read Replies (3) of 19428

Danke! ... finance.yahoo.com I see the play,... -------------------------- Kmart Answers Angry Shareholder Questions Friday May 9, 10:57 am ET CHICAGO (Reuters) - Kmart Holding Corp. (OTC BB:KMRT.OB - News), said on Friday it added new information to its Web site to explain to angry shareholders why their stock was wiped out after the discount retailer emerged from bankruptcy. The updated question-and-answer section (http://www.kmartcorp.com/corp/investor/general/faq.stm) tells former shareholders there wasn't enough money left over for them after Kmart paid off its creditors -- a common occurrence in bankruptcy cases. The old common shares of Kmart Corp. were canceled on Tuesday as the retailer emerged from Chapter 11 about 15 months after it filed for bankruptcy. The company issued new stock in Kmart Holding Corp., which is owned by some Kmart creditors, but not former shareholders. Dozens of former shareholders have called or e-mailed Reuters, upset about losing their investments. Many said they did not understand what had happened to their stock. Under U.S. bankruptcy law, shareholders are last in line for payment and often receive nothing.

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