Charter Relisted On NASDAQ 'A Meaningful milestone for Charter,' says CEO In March of 2009 Charter Communications filed for bankruptcy, and emerged from Chapter 11 in November of last year -- minus about $8 billion of Charter's then $21 billion debt load. Things continue to normalize for the troubled company, Charter announcing they've been relisted on NASDAQ under the symbol "CCMM." "To resume trading on NASDAQ is an important and meaningful milestone for Charter," said Mike Lovett, President and Chief Executive Officer in a statement. "Through the hard work and discipline of the entire Charter team, we've made significant strides to enhance our products and services, expand our commercial business, and continue to improve customer care."
|
  P NessYou'Ve Forgotten 9-11 AlreadyPremium
join:2001-08-29
way way out | Amazing what business get....over individuals shit i file for bankruptcy i cannot even buy a freaking burger for 7 years....
they dump billions of dollars owed...and are back in business an getting listed this fast.
geeze
i should incorporate.
--
 | |
|  | zolcos
join:2010-05-19
Houghton, MI | Re: Amazing what business get....over individuals I know, right?
I remember reading about the stock market crash before the great depression and how there were wealthy bankers and businessmen jumping out of windows when they realized they screwed up and lost everything. Nowadays companies can just file some "bankruptcy" paperwork (screwing thier creditors), or get bailed out by the gov't (screwing the taxpayers) while those at the top continue to collect multi-million dollar salaries. | |
| | | | | Re: Amazing what business get....over individuals said by zolcos:I remember reading about the stock market crash before the great depression and how there were wealthy bankers and businessmen jumping out of windows when they realized they screwed up and lost everything. Now days those bankers and businessmen who SHOULD be jumping out of windows because they screwed up are getting million dollar bonuses for doing so.
Yes, this is an important milestone for Charter. They've proven you can run your business into the ground, file some "sorry, we can't pay" paperwork, and then get right back to screwing your customers like nothing ever happened. | |
|
| rradina
join:2000-08-08
Chesterfield, MO | According to this NYT article, they didn't exactly dump the debt.
Charter, controlled by Microsoft cofounder Paul Allen, said the prearranged bankruptcy filing erased $8 billion of debt and the new company will be left with borrowings of $13 billion, The Associated Press reported. Bondholders who exchanged $8 billion of debt end up owning substantially all of the newly reorganized company
Quoted from this NYT article:
»dealbook.blogs.nytimes.com/2009/···kruptcy/
The losers seem to be the former stock holders. I'm not saying it was just but that is part of the risk of owning stock in publicly traded companies. Had things gone differently for Charter, those same stock holders could have doubled their money. If we didn't know better, we might tend to think Bugsy is still alive and running things... | |
| | | P NessYou'Ve Forgotten 9-11 AlreadyPremium
join:2001-08-29
way way out | Re: Amazing what business get....over individuals said by rradina:According to this NYT article, they didn't exactly dump the debt. Charter, controlled by Microsoft cofounder Paul Allen, said the prearranged bankruptcy filing erased $8 billion of debt and the new company will be left with borrowings of $13 billion, The Associated Press reported. Bondholders who exchanged $8 billion of debt end up owning substantially all of the newly reorganized company
Quoted from this NYT article: » dealbook.blogs.nytimes.com/2009/···kruptcy/The losers seem to be the former stock holders. I'm not saying it was just but that is part of the risk of owning stock in publicly traded companies. Had things gone differently for Charter, those same stock holders could have doubled their money. If we didn't know better, we might tend to think Bugsy is still alive and running things... oh even worse..they dumped the debt on stockholders, and everyday workers who owned the stock through their 401k's.
while the banks and investment firms got class A stock in the new company.
wow what a cock sucker move
funny how the small guy always gets screwed.
bet paul allen's stock options got converted and he lost nothing.
--
| |
|
 Romney2012Defeat Obama 2012-Chg we can believe inPremium
join:2002-03-03
USA
kudos:4
1 edit |  Minor correction - stock symbol
»www.prnewswire.com/news-releases···269.html
quote:
ST. LOUIS, Sept. 14 /PRNewswire-FirstCall/ -- Charter Communications, Inc. (the "Company") announced today that its Class A common stock is now listed on The Nasdaq Stock Market LLC (NASDAQ) under the symbol "CHTR."
| |
| Romney2012Defeat Obama 2012-Chg we can believe inPremium
join:2002-03-03
USA
kudos:4 | The stock symbol on Nasdaq is CHTR & not CCMM.
CCMM was the OTC symbol. | |
| | | | | | | Re: Minor correction - stock symbol Beat me to it... | |
|
| | GIVE ME HSI OR SELL MY AREA OFF THANKS! | |
| bgraham
join:2001-03-15
Smithtown, NY | Now the top management can make tons of money getting stock options at low prices and selling them off as the share price goes up. | |
|  dvd536as Mr. Pink as they comePremium
join:2001-04-27
Phoenix, AZ
kudos:4 | be likin' those new unfees! | |
| |  zpm
join:2009-03-23
Columbus, GA | Re: investors drop dead charter. | |
|
| |
|
|
