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Non-Tech : Hills Stores (HDS)- 7th largest retail chain -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Jens Tingleff who wrote (191)	11/19/1998 9:52:00 AM
From: WHL	Read Replies (3) \| Respond to of 201

As a former Bankruptcy attorney, I feel that the division of the pie among the various entities is pretty fair. Debt holders generally are in line ahead of stockholders in a typical final distribution from a company, but in order to get "something" to the shareholders for their long term support of a company, debt holders are often willing to give up a portion of their take for the benefit of the stockholders. This is not pure altruism, since any Chapter 11 plan of reorganization that a judge would approve would usually have to provide for the shareholders in a similar fashion. All in all management and employees came out "smelling like a rose" and it is probably worth trying to get a bit more for the shareholders through negotiation (if someone can be found to represent the unified shareholders). Otherwise, I've just resigned myself to the death of another huge retailer- killed off by the superstores. (NOT ME- I've sold out at 1 1/2, because I'm too impatient to wait for the 1/4 of the settlement distribution).