USAGQ stock???

[Skyblue2u]

OK, I''ve got to ask this question.... I think US Airways is a good buy. Unions have settled and recent negotiations with creditors are on the right track, a credit to the Unions and Management.
If the company comes out of Bankruptcy, is USAGQ stock reverted back to U? So, is it a good idea to bulk up on USAGQ stock.
Chip, AOG-N-IT, anybody?
Thanks,
Sky

 

[usfliboi]

I think the company itself has warned about investments made with uawgq. In fact aon who oversees our esop and 401 k were instructed to sell all stock in uawgq.This may help you, when you see that the company itself warned about investing .. I would wait till new stock is issued!

 

[a320av8r]

The old U now UAWGQ will be worthless when US Airways emerges from bankruptcy. There will be new stock issued to various groups.

 

[chipmunn]

Skyblue2:

AON Fiduciary sent each 401(k) holder a letter indicating the stock had reopened and was trading. AON highlighted in bold print the stock could be eliminated.

In my opinion, AON was telling holders, by bolding the option to cancel the stock, they should sell the security because the Plan of Reorganization will likely call for the cancellation of the security. I believe this is not a buy and hold investment because upon emergence the Company will issue a new class of the security.

Even though the stock was delisted by the NYSE, the Company has kept the right to the coveted single letter stock symbol and it appears this was done with the thought in mind of using the symbol U for the new issue.

Chip