kev@voder.UUCP (Kevin Hoskins) (01/31/86)
About three weeks ago a friend of mine at Epyx here in Sunnyvale
informed me of the possibility of Commodore filing for bankruptcy.
Since he did not tell me where he heard this from, I kept it off the
net.
However, this morning (1-31-86) the stock market reporter on an
ABC radio affiliate in San Francisco, KGO, announced that Commodore's
creditors have told the company that today is the day that they have
to pay up. This is after one previous extension of a payment deadline.
My friend was right.
Will Commodore survive?
One final note, during the past few weeks Commodore stock has
fallen nearly 40% and is now selling(!?!) for less than $7 a share.
Kevinchuq@sun.uucp (Chuq Von Rospach) (02/01/86)
> About three weeks ago a friend of mine at Epyx here in Sunnyvale > informed me of the possibility of Commodore filing for bankruptcy. > > However, this morning (1-31-86) the stock market reporter on an > ABC radio affiliate in San Francisco, KGO, announced that Commodore's > creditors have told the company that today is the day that they have > to pay up. This is after one previous extension of a payment deadline. The San Jose Mercury News reported this morning that creditors have given Commodore another extension while they negotiate on re-arranging the loans that are in default. If it doesn't work out, Commodore will probably have to file chapter 11 for protection. > Will Commodore survive? Hard to say. Even if this latest extension fails, Commodore can operate under Chapter 11 until it gets itself going again. Being bought by a company looking for entrance into the personal computer market is another option. I think the chance of it just disappearing into the sunset some afternoon is quite small. > One final note, during the past few weeks Commodore stock has > fallen nearly 40% and is now selling(!?!) for less than $7 a share. It might well be a good buy if you're looking for a speculative stock. If they can pull off a turnaround, the stock will take off. If they file chapter 11, it'll probably drop to around $1 or so. I wouldn't write them off at all, and if everyone else is selling, contrarian philosophy says to buy. It'd be a high risk (don't bet your retirement on it) but could also pay off quite well. Look at chrysler stock. -- :From catacombs of Castle Tarot: Chuq Von Rospach sun!chuq@decwrl.DEC.COM {hplabs,ihnp4,nsc,pyramid}!sun!chuq FidoNet: 125/84 My uncle told me all of this. It must be true, because I know my uncle, and he is as honest as me.
aer@alice.UucP (D. Rosenberg) (02/02/86)
Today (the first of February) Commodore's bank loans were extended. See
the second page of today's New York Times business section (in part two
of the paper.)
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#D. Rosenberg "Disclaimer: I'd never want to hurt anyone with My Opinions"
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