Peabody Coal
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Sunset
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Do you really expect the demand for coal to pick up ?
frayne
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Of course, this natural gas stuff will never catch on !
ERD50
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Ask Boho - he is smarter than the average bear.
-ERD50
-ERD50
target2019
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It looks like a bar room brawl.
Four bondholders sue Peabody Energy, hedge funds over stock sale | Reuters
Four bondholders sue Peabody Energy, hedge funds over stock sale | Reuters
MRG
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I lost a pile of money day trading this turkey way back. I am not going near it again.
Lakewood90712
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Do you see a bunch of new coal fired utility plants and steel mills using coke being built in the USA ? that is the primary market.
Rising coal exports are not enough to make this industry even worth a look for me.
if it had promise, a private equity hedge fund would buy it.
Rising coal exports are not enough to make this industry even worth a look for me.
if it had promise, a private equity hedge fund would buy it.
NW-Bound
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I made money on BTU, trading it between 2003 and 2007. I lost money on many stocks, but not this one (I had to make money sometimes, else would have to go back to work 
). I cannot remember when I got out, and have not been following it, so did not know it went bankrupt.
). I cannot remember when I got out, and have not been following it, so did not know it went bankrupt.
calmloki
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I know nothing about stock trading. however.
ERD50
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Very nice, but the name of the song is "Paradise". "Mr Peabody's Coal Train" is i the lyrics. Here's the original, written and performed by John Prine:
-ERD50
Winemaker
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While coal will remain a 40-45% provider for baseline power in the US, there are several "lumps" in the road. The political/environmental damage done in the last decade may be too severe to overcome. The shift to a service economy from a manufacturing economy removed a lot of coal fired capacity also. Natty gas, has been a cheaper, cleaner source but it has storage issues. Coal mining companies are having the same legacy cost issues that the airlines, steel and auto industries (just to name a few) had to overcome. I was in the industry for over 35 years, it still may be real early to get on this coal train.
Lakewood90712
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IMO, Yes and Yes . Sorry.
Check with your brokerage house to be sure.My mom held on to the old the GM , at $2.50, I tried to get her to sell , no luck. Turned into a capitol loss carryover.
meierlde
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IMO, Yes and Yes . Sorry.
My mom held on to the old the GM , at $2.50, I tried to get her to sell , no luck. Turned into a capitol loss carryover.
Since the bankruptcy is closed the stock is now worthless so you have a capital loss on the 2017 taxes. This happened to me with Dana once.
Boho
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I don't follow the stock market in general. I research in a specific way and I don't know anything about Peabody.
Lakewood90712
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ERD50
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Lost all my stock with them when they came out of bankrupt,,,,Anyone know of any steps I can take to try and get my money back? Any lawsuits against them that I can check into?
Do you understand what "bankruptcy" is? A court will decide how the limited resources will be split up across the current creditors. I doubt any judge would consider payments to a new creditor. And there is a defined pecking order for which creditors get paid first and how many cents on the dollar. Stock holders are at or near the bottom of that list.
This is the risk/reward situation for buying stock. I never heard of a class action suit against shareholders, for the company to get their gains back. One reason we talk about diversification so much, and mutual funds is to gain this diversity easily.
Good luck finding a lawyer to take a financial case against a bankrupt company. They will be very concerned that there just will be no money [-]for you[/-] to pay their fees.
I think you'd have better luck with a magician than lawyers.
-ERD50
meierlde
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Note for future reference many brokers will pay you $1 for a lot of stock in bankrupt companies so you establish the loss. (full service typically) Old GM took a long while to go to zero so I think I got .20 per share when I closed that old position out.
audreyh1
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So did the executives at Peabody pull a fast one on their creditors and enrich themselves?
ERD50
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I wouldn't be surprised if the executives do just fine.
But think about it - if you were a talented CEO level person, and were asked to take the helm of a troubled company, wouldn't you want compensation to do the job? It might be unavoidable that the company was going BK, but a good CEO might be able to manage that for the least pain. You can't expect that expertise for free, because of the company situation.
I suppose the executives should get the same kind of haircut on their compensation as other people/companies who did work for Peabody and expect payment for services. But I suppose the board members will be considered "special".
-ERD50
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