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Technology Stocks : Loral Space & Communications
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To: Tahoetech who wrote (10511)7/16/2003 9:45:47 AM
From: Selectric II  Read Replies (2) of 10852
 
Because you equated no loss of equity with Mr. Schwartz being a master of finance. I don't see the connection

He's a master at his own financial affairs. He's a multi, multi millionaire who bought Loral's best assets -- the aircraft brake business -- for himself, who can afford to stroke a million dollar check to the DNC, and who has flushed not just one, but now two companies (Globalstar and Loral) and their shareholders down the tubes.

Chapter 11 typically results in shareholders being wiped out and the creditors getting the equity in their place.
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