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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: Silver_Bullet who wrote (2732)	12/13/2001 4:54:52 PM
From: moufassa7	Read Replies (1) \| Respond to of 13660

GX could declare bankruptcy and have no effect on it's operations. Chapter 11 was created to let companies like GX continue to operate under it's protection from creditors. It could then refinance or sell it's assets. In either case their is usually little or nothing left for shareholders.

To: Silver_Bullet who wrote (2732)	12/13/2001 4:59:06 PM
From: Mark Konrad	Read Replies (1) \| Respond to of 13660

GX...I don't think a sale is likely before bankruptcy. Who would want to assume that level of debt? No, I think the bankers will simply weigh their own cost of money (which keeps getting cheaper and cheaper) versus the potential profits of having a "performing" loan to GX even at terms that are more favorable to GX. How it'll play out, I don't know, but I do believe the current price reflects near-bankruptcy status and that may be premature. I'd give this dog another day or two (at least) of rumor-trading before taking on anything more than a gambling position. All imo--MK--