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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (20015)	12/13/2002 4:19:03 PM
From: Jeffrey S. Lillie	Read Replies (2) \| Respond to of 30712

cause softie has been shortin it every chance he can. it is commonly known as softie profit prevention or SPP. j

To: Win-Lose-Draw who wrote (20015)	12/13/2002 4:26:05 PM
From: jtech	Read Replies (1) \| Respond to of 30712

Major UAL Shareholders Restricted From Selling Shares Thursday December 12, 4:36 pm ET By Sonoko Setaishi NEW YORK -- UAL Corp. (NYSE:UAL - News) , operating under bankruptcy-court protection since Monday, has secured a court order restricting large shareholders, including its employee-owners, from unloading their holdings at least until the month's end. ADVERTISEMENT The order, designed to help the world's second-largest carrier make use of certain tax provisions, in effect leaves trading of UAL stock in the hands of small investors and speculators. Such players often cause large swings in the share price of a company in Chapter 11. There was a sign that the order was already giving a boost to UAL shares by preventing the major holders from selling the shares. The stock rose sharply Thursday, closing up 36 cents, or 30%, at $1.57. The share price more than doubled from a 52-week low of 64 cents reached Monday. The court order, which took effect Tuesday, prohibits purchases, sales and other transfers of UAL equity interests by anyone who owns 2.5 million or more common shares. It also prohibits transfers of claims by anyone owning $65 million or more in claims against the company. The order will remain in effect until a Dec. 30 court hearing to reconsider the appropriateness of the relief. Such an order "would normally increase the value of the stock short-term" by reducing the number of shares available for buyers and forcing them to bid the stock higher, said Marty Zohn, partner at law firm Proskauer Rose LLP in New York, who isn't involved in UAL's Chapter 11 proceedings but follows the company's employee stock ownership program, or ESOP. UAL spokesman Jeff Green said the order applies to the company's employee stock ownership plan, which has been selling a big chunk of its holdings since September to help the employee-owners preserve what is left of their nest eggs. UAL employees had received 55% of the company through a 1994 ESOP, but the fiduciary bank, State Street Corp.'s State Street Bank and Trust, had sold more than a third of that stake through last Friday.