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View Full Version : MECA Bankruptcy

GoBabyGo
07-31-2007, 03:37 PM
word is when not if. previous guidance was end of year looking more like very soon. new all time low again today.
kenwoodallpromos
07-31-2007, 04:30 PM
Didn't bankruptcy screw up NY racing? What happens to the tracks if Magna files?
Bruddah
07-31-2007, 06:47 PM
would seem to be in the proverbial "cat bird seat". Wake me when it's over. :sleeping:
NoDayJob
07-31-2007, 09:13 PM
The Shorts are having a field day. Look for a reversal. :lol:
GoBabyGo
08-02-2007, 10:14 AM
The Shorts are having a field day. Look for a reversal. :lol:

hope you werent serious. below a deuce now. this company is doa. lot of traders reading pa board now. you guys give good insights into meca and chdn.
ponypro
08-02-2007, 01:02 PM
Wont that look exceptionaly bright on Evans part for partnering with a company that goes belly up. I cant wait.
garyoz
08-02-2007, 01:13 PM
The Shorts are having a field day. Look for a reversal. :lol:

Can't short a stock under five. Bankruptcy usually occurs when a loan covenant is triggered or interest or principal payments missed. If it happens shouldn't effect the tracks much as the are operating subsidiaries--unless they depend upon the parent for cash to continue operations. Could effect HRTV, once again, if it happens.

Ch. 11 reorg is not a liquidation. Probably most liabilities are to Magna Corp.

This is why you shouldn't own stock in companies with two or more classes of shareholders--with insiders owning super voting stock---all too often the chickens come home to roost.
bigmack
08-02-2007, 01:33 PM
As it's down close to another 5% today this should be interesting:

http://i165.photobucket.com/albums/u70/macktime/8_2_07_10_32_21.jpg
kenwoodallpromos
08-02-2007, 02:41 PM
http://pro.edgar-online.com/profile.aspx?ticker=meca
Edgar has mony company filings online free.