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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: augieboo who wrote (88800)7/1/2002 8:58:17 AM
From: Bruce A. Thompson  Read Replies (1) | Respond to of 99280
 
Augie,

The last time I saw that PE was in RAY.(The old Raybestos) It had 18,000 class actions filed against it and stayed in bankruptcy for over 15 years. When RAY emerged from bankruptcy last year it was selling for $2+ and 1X earnings. They only had to issue 90% of the company in new shares and give them to the creditors. (now 10 times as many shares with original holders now 10% of the company) They are now selling in the $6's.

BT


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