Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: DCPI who wrote (578)	9/9/1997 7:53:00 AM
From: Arthur Tang	of 1911

Bradlee is delisted. Caldor can not come up with a reorganization plan, pushing it to next year again. Both stores will be closing more of their stores yet. Investment in companies in bankruptcy is dangerous due to the fact that stockholders are the last in line to receive anything. Caldor has $460 million in secured loans with Chase bank thru chemical bank. Chemical bank only extended $30 million before bankruptcy. Revenue has fallen, to show that the turn over is a serious problem from the total loan to revenue ratio. Delisting from exchanges due to so many years not having a profitable quarter happens. The bank will own everything. Ge capital extended Montgomery Ward $100 million before filing for bankruptcy and the subsidiary Lechmere loses $10 million a month. Analyst of loose repute sometimes do not look at the management problems. Next time you look for that analyst, he is working on some other stocks. AMES is being watched by stockholders all the time. Any problems will be exposed, so management will be correcting or fine tuning the operations. Its a job, stockholders will never finish. Stock picking alone is irresponsible.

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