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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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UNITED airlines stock - how will it 'work'?
Bought UALAQ stock - United Airlines. They announced that the current stock will (may?) become worthless when they reissue new common stock.
So......why is it worth anything right now? (50-ish cents) Is my investment - which I knew was extraordinarily risky - garbage? Knowledge needed - THX
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-12-2005, 08:39 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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How can they reissue new stock. That's kinda like telling the owners (shareholders), "Sorry, but you aren't owners anymore." It'd be like a property management company selling an apartment building to a new owner right under the nose of the current owner...
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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10-12-2005, 08:48 AM
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Work in Progress
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Your best bet would be to take this issue to investor relations at united. That is if there is more than 1 person in the department
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"The reason most people give up is because they look at how far they have to go, not how far they have come." -Bruce Anderson via FB -Marine Blue '87 930 |
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10-12-2005, 09:37 AM
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Work in Progress
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Here is what they say:
What does it mean that the common stock will be cancelled? Why aren't current common stockholders receiving anything under the Plan? As the company said would likely be the case for some time, the proposed Plan stipulates that UAL's current Common stock will be terminated and cease to have any value. Unfortunately, current stockholders are unable to receive any distribution because under the law, stockholders are only entitled to receive anything for their equity interests after most creditors are paid in full, which will not be the case. The Reorganized United will issue new stock to its new shareholders pursuant to the Plan. If you would like additional information about the Plan of Reorganization, please visit www.pd-ual.com or www.united.com .
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"The reason most people give up is because they look at how far they have to go, not how far they have come." -Bruce Anderson via FB -Marine Blue '87 930 |
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10-12-2005, 09:41 AM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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Then why is the current stock worth ANYTHING at all??
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-12-2005, 10:00 AM
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Registered
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Quote:
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Silver '88 RoW Carrera Grey '06 A4 Avant |
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10-12-2005, 11:53 AM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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.....theoretically, yes.....but WHY?
There must be an objective reason why someone would buy something that is worthless = no value; and hence why the stock actually has some value. Dividends? An option to buy the 'new' stock at a lower price? Someone's gotta know.
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-12-2005, 02:39 PM
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Registered
Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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Quote:
People like to speculate, hope, wish and dream. A lot of people just don't understand what is going on with the shares they own too. There also may be people who are holding a short position in the stock, they will want to close that position. To close their short, they have to buy shares; somebody has to sell them those shares. |
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10-12-2005, 03:08 PM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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Got it, makes sense now.
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-12-2005, 03:11 PM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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Is there ANY reason to keep the UALAQ stock?
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-25-2005, 10:08 AM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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10-25-2005, 10:10 AM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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Uh yeah.....really, is there a reason?
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-25-2005, 10:12 AM
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Registered
Join Date: Jan 2002
Location: Hollister, CA,
Posts: 106
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SoCal is exactly right, that stock will (not may) become worthless. The current shareholders will be left holding the bag. You would be well advised to sell it as soon as you can.
Scott
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88 Carrera |
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10-25-2005, 11:08 AM
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Me like track days
Join Date: Sep 2003
Location: Kirkland, WA
Posts: 10,209
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Appears to be excellent advice, thanks a ton.
Just sold 2,075 shares.... 
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- Craig 3.4L, SC heads, 964 cams, B&B headers, K27 HF ZC turbo, Ruf IC. WUR & RPM switch, IA fuel head, Zork, G50/50 5 speed. 438 RWHP / 413 RWTQ - "930 is the wild slut you sleep with who tries to kill you every time you "get it on" - Quote by Gabe Movie: 930 on the dyno |
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10-25-2005, 02:51 PM
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Bruiser
1988 Porsche Carrera 3.2
