E.S.O.P

[out.of.the.blue]

Just to let everyone who were having money deducted from their paychecks for E.S.O.P know that I called personel today and was informed that all employee contributions were halted as of yesterday. So nothing for us to do on our part to stop the share purchases.

[dartagnan]

Thanks for that info ootb! I guess now all those shares we have are worth nothing and that we essentially lost all the money invested... Its going to make for a great tax deduction next year! Its the last time I invest in an airline thats for sure!

[out.of.the.blue]

I feel very sorry for those of you who had larger amounts invested in the ESOP plan. At least as Dart has stated the "lining" is that it probably will be a great deduction for tax purposes next year.

When this happened chez "you-know-who" we were told by the company that we had until a fixed date to liquidate whatever we had in our stock accounts before they were completly deleted from the stcok exchange... so there might just be a little left after all. Those who didn't act lost everything. Out of about 16 000$ invested I was lucky enough to walk away with 1800$. (and to think I got honors on my business degree :blush:! )

Maybe next time we should go into partnership Dart.. I hear they have some lovely "water frontage" for sale in Florida. waddayathink?

[dartagnan]

Well that would certainly be a better investment thats for sure! :grin:, I lost about 10 Thounsand... of which I had invested about 7 Thousand... :frown_2:! Oh What the hell, at least I am still smilling... How much for that sea side property? :grin:

[Peanut]

Moi aussi...just over 10 grand...oi
Well, c'est la vie...the shares were down to 69 cents today...So, as this has never happened to me before, do we still have the shares we bought but they are worthless? Does it mean it's gone forever? Or could they go back up even now?

[ACstew]

Yepper, we still hold the number of shares that we held before the CCAA filing. Each share is now worth a grand 95 cents or so, so not quite worthless. They could yet go back up, but even if they do, it's unlikely that they'll go up by much as bondholders have first dibs on whatever moolah remains. I hear that we're supposed to be refunded for contributions made from our March paycheques. Now that we're about to bid for vacation, Peanut, would you care to join me, O.o.t.b. and Dart in investing in a smart seaside time-share pad somewhere nice? :grin:

[dartagnan]

Sounds great that sea side thing does'nt it...

[Peanut]

Thanks for the info and offer ACStew.
Actually, as you may or may not know, I already live in a seaside pad somewhere nice...albeit rented...It's called an apartment on Stanley Park in good old YVR where my remaining Canadian $ can buy me a nice little ice cream at Mondo Gelato, where I can soak in a fabulous uninterrupted view of the mountains and ocean from Grouse to UBC, enjoy the peaceful chirps of finch, sparrows and junco that come feed on my balcony, observe a nearby heron colony, soaring blad eagles...Complete with frequent walks on the sea wall and swimming in the shark free waters of third beach...shake my head at seagulls stuffing themselves with seemingly undigestible starfish...ah life is beautiful...and last but not least where I can melt in the warming relaxation of an evening sun...
By the way, there is a one bedroom available on the 22nd floor and a 3 bedroom available on the 8th floor if you care to join in the Zen lifestyle.

[baloo]

I am not a huge expert on taxation law but the way I understand it you can claim a capital loss against any
future capital gains. I don't think you will automatically
get a refund on your general taxes because you lost in the
stock market. If I am wrong please let me know.

[ACstew]

Sounds terrific, Peanut, but I think I'll wait to see what happens under this CCAA beezwax before I decide whether I can afford the view from 22. Any ground floor bachelors available? :grin: