Anything is possible in finance. Share price plummeting to it's
par value is a possibility. The par value of a share is extremely
little, when compared to it's market value. Tsk Tsk...how naive are
we?
Without the benefit of hindsight, would we have known that big
companies like,
Aladdin Gaming, LLC (Las Vegas Hotel Casino) (2001)
ABB Lummus Global, Inc. (Petroleum Refining) (2006)
American Banknote Corporation (1999)
American Federation of Television and Radio Artists / AFTRA
(1982)
America Online Latin America, Inc. (2005)
American Restaurant Group, Inc. (2004)
Ameridebt (2004)
AMF Bowling Worldwide, Inc. (2001)
Atkins Nutritionals, Inc. (2005)
Baldwin Piano & Organ Company (2001)
Bethlehem Steel Corporation (2001)
Big Buck Brewery & Steakhouse, Inc. (2004)
Birch Telecom, Inc. (2005)
Burlington Industries Inc. (2001)
Carolco Pictures Inc. (1995)
Chiquita Brands International Inc. (2001)
Continental Airlines Inc. (1967 & 1984)
Converse Inc. (2001)
Dairy Mart Convenience Stores Inc. (2001)
Delphi Corporation (2005)
Delta Airlines Inc. (2005)
Dow Corning Corporation (1995)
Eastern Airlines Inc. (1991)
Enron Corporations (2001)
eToys Inc. (2001)
[email protected] (2001)
Franks Nursery & Crafts, Inc. (2004)
Frederick's of Hollywood Inc. (2000)
Fruit of the Loom Inc. (1999)
Gadzooks, Inc. (2004)
Happy Kids, Inc. (2005)
Hollywood Casino Shreveport (2004)
KB Toys, Inc. (2004)
Kmart Corporation (2002)
Lionel Corporation (1967 & 1984)
Loews Cineplex Entertainment, Inc. (2000)
Maidenform Inc. (1997)
Marvel Entertainment Group (1996)
Montgomery Ward Inc (1997 & 2000)
Motor City Five/MC5 rock group of the 1960s (1970)
Musicland Holding Corp. (2006)
Northwest Airlines (2005)
Orion Pictures Corporation (1992)
Owens Corning Corporation (2000)
Pan Am Corporation (199
Planet Hollywood International Inc.(1999 & 2001)
Polaroid Corporation (2001)
Purina Mills Inc. (1999)
Regal Cinemas Inc. (2001)
Resorts International Inc. (1994)
Schlotzskys Inc. (2004)
Silicon Graphics, Inc. (2006)
Singer Company (1999)
Sizzler International (1996)
Smith Corona Corporation (1995)
Southland Corporation (7-11 stores) (1990)
Sunbeam Corporation (2001)
Swissair Group Inc. (2001)
Texaco
The Roman Catholic Archdiocese of Portland, Oregon (2004)
Toysmart.com (2000)
TLC rock group (1995)
Trans World Airlines Inc. /TWA (1995 & 2000)
US Airways Group, Inc. (2004)
US Office Products Company (mail boxes etc. stores) (2001)
Vlasic Foods International Inc. (2001)
Western Union Corporation (1993)
Winn-Dixie Stores, Inc. (2005)
Zenith Electronics Corporation (1999)
would have fallen?
Although banks like Citibank might be immune to chapter 7, because
of the importance Citibank plays in the US market, the US
government will most likely come up with a rescue package if they
have liquidity problems (much like the bail out of LTCM). The
collapse of the banking system will result in dire consequences for
the US economy.
Not forgetting the collapse of the Barings Bank, which was finally
sold off to ING for only GBP 1.00 (NOT GBP 1.00 per share, the
whole bank for 1 quid).
