RE: Naive investordownandout;
by wiping out the existing shareholders then the company is turned totally into the hands of the creditors - questions of consolidating ownership into the greedy hands of the banks.
I dont think that we have the total answer in what LDM is doing. Do not for a minute discount possible court actions in the US on behalf of shareholders- their courts are more shareholder friendly (and fairer).
Also an interesting twist that a Canadian institution will be allowed to close up shop in Burlington and move to Buffalo - they should throw each and every bum who is making a decision on this out of Canada totally and cancel each contract that a school board has with them - I know most school boards will only look at the service that is being provided and who cares about whether its a Canadian company or not or whether the shareholders have gotten skewered in the deal.
Last point whats up with all the losers who post on this board about how wonderful it is for the shareholders to lose everything? Nice to see that even they (losers each and every one of you that is posting stupidity like MAS 13) can read a stock chart and are able, with uncanny accuracy I might add, to tell everyone else that this was a bad investment (after the fact of course) - how brilliant!
Cheers