Polaroid Files for Chapter 11

[IAmAMoron]

There goes another one.

 

[geno]

Wow :Q Polaroid was big too... I'm surprised

 

[ratkil]

The price of older Instant camera's just went up I bet.........

 

[Ferocious]

heh, and they were almost like the "Cisco" of the '70s.

Damn.

 

[drewshin]

wow.
bankruptcy isnt always bad for shareholders but most of the time it is.
this is just as big as exodus going chapter 11.
i bought about a 1000 shares averaged at 1.25, but they're still trading now at around $0.17. i actually had the courage to buy 10,000 more shares for $0.06 (only $600!) wooo hoo so im almost breakeven now

ok i'll go sell soon before they announce that the bondholders will get everything :Q

 

[ricerx]

should of licensed out there technology.

 

[bacillus]

unbelievable! :Q
wonder who's next.

 

[jlee75]

<< wow.
bankruptcy isnt always bad for shareholders but most of the time it is.
this is just as big as exodus going chapter 11.
i bought about a 1000 shares averaged at 1.25, but they're still trading now at around $0.17. i actually had the courage to buy 10,000 more shares for $0.06 (only $600!) wooo hoo so im almost breakeven now

ok i'll go sell soon before they announce that the bondholders will get everything :Q >>


other thing with bankruptcy, is that it does protect the shareholders in a way. it allows restructuring. hopefully they will get back on their feet soon. gotta love those polaroids.

 

[ricerx]

<< wow.
bankruptcy isnt always bad for shareholders but most of the time it is. >>



agreed. look at Covad. they filed for chap 11 and now Business Week says they are almost debt free and poised for profits.

 

[geno]

<< look at Covad. they filed for chap 11 and now Business Week says they are almost debt free and poised for profits. >>


How does that work??

 

[dman]

They didn't keep pace with technology. Too Bad, so sad.

 

I am not suprised. With digital cameras and $5 disposables, who needs those yucky instant cameras anymore?

 

[ricerx]

<<

<< look at Covad. they filed for chap 11 and now Business Week says they are almost debt free and poised for profits. >>


How does that work?? >>



here read the article

a little from the article


<< Now, it appears Hoffman may have had good reason for his blue-skies view as a number of analysts say Covad has a solid chance of making a comeback. The majority of its creditors have agreed to a restructuring plan that will wipe away all debt and hand them 19 cents on the dollar, as well as a 15% equity stake in the reconstituted company >>

 

[drewshin]

genocide:

this is the way i understand it. they made a deal with the bondholders to clear their debt, but the bondholders get about a 15%? equity stake in the new company (they'd rather get this stake than get nothing). so without the debt and load of making huge interest payments every month, covad is pretty close to cash flow positive. i believe the current shareholders suffer from what's called dilution, but their shares are still worth something and they get to partiicipate in the new debt-free company.

current exodus shareholders are hoping for the same thing. although there might even be a buy out in exodus' case, but nobody knows right now, which is why it's trading at...damn $0.13.