Tag: zero

ZERO

The fat lady just stopped singing. RadioShack is a ZERO.

Eventually Sears and JC Penney will be zeroes. It will probably take a few years, but ZERO is their ultimate destination.

RadioShack warns investors its stock should trade at zero

Published: Mar 13, 2015 11:25 a.m. ET

Bankrupt retailer believes its common stock has no value

MarketWatch/Tim Rostan

RadioShack sees its own stock as worthless

Those buying RadioShack Corp.’s stock, even for mere pennies, are just wasting their money. So says the company.

The failed consumer electronic retailer’s shares RSHCQ, -44.17%  tumbled 30% in morning trade Friday to 13 cents, but based on the company’s view, they should be down 100%.

In light of the recent trading volume in its stock, RadioShack felt compelled late Thursday to repeat its warning that its shares will likely end up being worthless in the pending Chapter 11 bankruptcy proceedings.

“Equity holders of a company in Chapter 11 bankruptcy generally receive value only if all claims of a company’s secured and unsecured creditors are fully satisfied,” the company said in a statement. “RadioShack said it believes that the claims of its secured and unsecured creditors will not be fully satisfied, leading to the conclusion that RadioShack common stock has no value.”

Despite Friday’s selloff, the stock was still trading 30% above its closing price of 10 cents on Feb. 5, the day RadioShack filed for bankruptcy, after years of fighting to stay solvent.

The stock closed above 20 cents as recently as Monday, and daily volume since Feb. 5 has averaged 4.1 million shares.


RADIOSHACK IS WORTHLESS & WEAK

I’ve been writing about the demise of RadioShack since 2012. I wrote this in February 2013:

Radioshack operates 7,000 locations and employs 34,000 people. Their only chance at survival is to close their 30% worst performing stores immediately. Retail CEOs rarely have the wisdom and reality based thinking to do what needs to be done. Time will tell, but this is just another dead retailer walking.  

They will be lucky to make it through Christmas before declaring bankruptcy. There will be thousands more Space Available Signs in strip centers and dying malls across America. When your stock price is 85 cents, it ain’t a long way to zero.

Told ya so.

RadioShack is worthless and weak.

RadioShack sinks 13% after Wedbush calls it worthless

By Ben Eisen

Published: Sept 10, 2014 2:58 p.m. ET

NEW YORK (MarketWatch) — Shares of RadioShack Corp. RSH, -10.68% plunged 13% to 85 cents on Wednesday after Wedbush analyst Michael Pachter cut his price target to $0. Pachter, who lowered the price target from $1, wrote that he expects the beleaguered retailer to enter bankruptcy as part of its turnaround process. “Our price target reflects our expectation that creditors will force a reorganization and wipe out RadioShack’s equity,” Pachter wrote. In June, B Riley analyst Scott Tilghman lowered his price target to $0. The average price target of analysts surveyed by FactSet was $1.13

ONLY 4% TO GO

How much more time before the USD reaches its intrinsic value and the bankers running this Ponzi scheme are hung from lampposts?

“Paper money eventually returns to its intrinsic value – zero.” – Voltaire

“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” – Lord Acton

Maybe some Congress critter should present the chart below to Bubbles Yellen today during her testimony when she declares that inflation is well contained.

 

Guest Post by Anthony B. Sanders at Confounded Interest

US Dollar Purchasing Power Is Down 96%, British Pound Is Down 99% Since Creation of Federal Reserve System

The Federal Reserve System in the United States was created by Congress in 1913 and signed into law by President Woodrow Wilson. Since its creation, the purchasing power of the US Dollar has declined 96%.

purchasingpowerfed

But according to a House of Commons Library Report entitled “Inflation: the value of the pound, 1750-2011,” RESEARCH PAPER 12/31 29 May, 2012, RP12-31 (1), the decline in purchasing power of the British Pound since 1913 equals 99%!

poundpurchaepowe

Note that the shape of the decline of purchasing power following the creation of the Federal Reserve System in the US are virtually identical.

With the exception of the fact that the British Pound purchasing power actually was crushed even worse than the US Dollar.

Neither the US or the UK are up to Zimbabwe’s destruction of their currency, but The Fed has only been working on it for 100 years. Think of what they can do over another 100 years!!

zimbabwe1

I would love to see UKIP’s Nigel Farage debate the merits of central bank policies in the European Parliament! Here is Farage discussion the merits of The Euro.