Anything but! Part of the transition is the conversion of debt to equity greatly diluting existing stock. >From memory shareholders in Air Canada got one share in the new company for every 14 they held in the old. It is a continuing mystery why there is trading in UAL shares where something similar is likely to happen. The only logic is that people think others will buy from them in the interim in the hopes that other will buy from them in the interim in the hopes .... Chapter 11 rescues the underlying business, some jobs and reduces the pain for creditors. It rarely does anything for stockholders. I suppose there is always some chance that Delta will not go into Chapter 11 and the price recover, but that is the only (slightly) sensible gamble. IMHO Antoin Daltun ----- Original Message ----- From: "Michael A. Burris" <yyz_02140@xxxxxxxxx> To: <AIRLINE@xxxxxxxxxxxxxxxxx> Sent: 25 October 2004 19:54 Subject: Re: Delta Chapter 11 today? > AIRLINE: > > So is this a good time to buy their stock, assuming > that they'll eventually come out of this leaner and > meaner? > > Mike Burris > Cambridge, Mass > --- Clay Wardlow <clay.wardlow@xxxxxxxx> wrote: > > > What's the pool that DL will go Chap 11 today/this > > week? > > Clay - SEA