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A&P Halted, Likely To Announce Chapter 11 Filing
A&P stock (GAP) has just been halted. As reported earlier, this is likely in
connection with the company's imminent filing. Hopefully the avalanche
of sellers managed to get out in time.
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so, do we think this is what they will do for BAC if the Wikileaks stuff hits before the close?
Why does it have to be BAC and not STT for example?
And where's the death dump? Isn't it clear Assange will be in jail for the rest of his life. U.S. will indict him, convict him, everyone else will indict him, convict him. Where's the dump?
i would expect that now that the US has indicted him the codes have been released and its probably only a matter of hours.
I believe Assange trying to muscle government(s) with a threat is adding fuel to the fire perhaps to his detriment.
It's one matter to expose truth, it's quite another to bully and extort in the name of truth.
See ya in the 'States.
whose whore is a&p?? that company has been in and out of bankruptcy more times than most sailors are in and out of a bordello....do the swiss still own it?
Oh MY ...did you see GAP (inter day)chart looks like Wile Coyote off a cliff !
I was waiting for Robo to post this retail gem.
do you really want to know what happened at A&P? All right I'll tell you. Greed greed and more f@#king greed. Greedy wanking executives and bankers.
But ... I thought greed was good.
So in other words it was run like every large U.S. corporation today.
Is this is what is called a GAP down?
Supermarket chains actually were always the weaklink. Wafer thin operating margins, huge dependence on gasoline prices and massive CRE exposure.
We'll probably see a lot more of this con-solodation.
Less competition in a tightening food market.
Not good.
ORI
http://aadivaahan.wordpress.com
What happened to the "circuit breakers" on a 10% move lower ? OUCH
The circuit breakers are only on stocks that would actually effect the market should they move lower.
And we celebrate another 52-week high on this news. I think we could have 5 bankruptcies a week and the market would still churn higher. Oh wait, we do have 3 to 5 bank closures per week. This equity market is incredible. It's hard to imagine what a down day would look like. The 10-yr keeps dropping, interests rates rising, companies going bankrupt, initial claims stedily above 400k, consumer credit contracting, mutual fund outflows (don't even try the equity ETF inflows argument) etc. I guess it will just keep going up until it doesn't. What a day that will be.
... and as A&P has had it's days of birth, glory and decay, so shall Walmart.
"By the sweat of your face
you shall eat bread,
till you return to the ground,
for out of it you were taken;
for you are dust,
and to dust you shall return."
Genesis 3:19
I think that only applies to carbon-based legal entities.
I just checked the chart on A&P. That's what I think the S&P will look like one day....
Just fuck 'em. Who needs food? Anything to keep the commodity trade moving forward so that the criminal syndicate known as Wall Street can more efficiently destroy through arbitrage every single thing on the surface of the planet.
All while The Bernank destroys the currency to stuff mountains of cash into said criminal syndicate banks. This is where were are, folks. Hard to believe, but this is where we are in America.
I am sure as always, the little retail guy (the hand full left) got hosed.
Finally a short position that worked. The market has been extremely hospitable to fraud, puffery, bad business models, FDA setbacks, and ridiculous overvaluations, but I guess even in this insane environment investors occasionally respond to actual bankruptcy.
Just don't short the protected class.
8.8 Billion in sales and still lost money, how did they stay open the last 3 Years.
It had an $876 million net loss on $8.8 billion in 2009 sales, its third straight annual shortfall.