ThursdayMan | el hombre del jueves

Hazy Curt Clawson Delisted HAYZQ Ticker of Hayes Lemmerz International Inc | James Pat Guerréro

Posted in Florida's 19th Congressional District Special Election 2014, Fort Myers FL by James Pat Guerréro on 02/24/2014

Image

Curt Clawson

Ticker symbol HAYZQ of Clawson’s Hayes Lemmerz International, Inc., in the automotive and transportation industries stopped trading on the NASDAQ sometime in 2009.  As a result of the Hayes Lemmerz’ bankruptcy reorganization, stockholders still holding stock lost all of their common stock.  Here’s how the posts of a particular stockholder, Kevin Aihara, read:

[Begin quote]

kevin Aihara  Monday, 12/28/09 09:13:04 PM
Re: Expediter post# 5929
Post #  of 5942

What’s going on with HAYZQ???? Did everyone lose out!! I can’t trade on this stock anymore. If anyone knows what happen please reply back!!! Need HELP!!! Thx[1]

kevin Aihara  Monday, 04/12/10 12:56:59 AM
Re: Kingchip161 post# 5934
Post #  of 5942

Have we lost everything in this stock?? What’s going on…Help someone![2]

jotuk6771  Sunday, 04/18/10 02:44:57 PM
Re: kevin Aihara post# 5937
Post #  of 5942

Sorry,but infortunately , you lost everything ….

Hayz Lemmerz is no longer publicly traded , so, your shares are worthless …

GLTY[3]

[End quote]

Hayes Lemmerz International Inc is a global company with plants located worldwide producing automotive and commercial highway wheels and powertrain components.  Hayes Lemmerz filed for Chapter 11 bankruptcy in May 11, 2009 under the leadership of Chairman and CEO Curtis J. Clawson (Curt Clawson).  Court-driven toward a restructured and reorganized company, Mr Clawson agreed with its secured creditors that its lenders would gain “substantially all of the equity.”  Hence, common stockholder Mr. Kevin Aihara had “lost everything.”

From just a business perspective, tea partier conservative Mr. Bryon Donalds has endorsed Mr. Clawson with the words, “What we need in Washington are people who have outside experience, real leadership, and he provides that.”

But what haven’t been addressed are Tea Party principles, conservatism, and fiscal responsibility.  On the fiscal side null and void total common stock equity represents fiscal irresponsibility on behalf of Mr. Clawson for the common stockholder.  Apparently, there was no envisioned restructuring plan for the common stockholder.

Yet still existing intact, Hayes Lemmerz International Inc is now a division of Iochpe-Maxion, a Brazilian company, which merged with Hayes Lemmerz for the price tag of $725 Million.

An offshoot of this reorganization and merger was a new company called Maxion Wheels, which is now headed by the previous COO of Hayes Lemmerz, Fred Bentley.

An outsider is not the right term for Mr. Curtis J. Clawson.  A better term would be an insider who knows the caprices of the investment banking world.  And one of his characteristics would be a man of worldly experience who would thrive in Washington in the political funding and lobbying and special interest categories – to take from the common to give to the wealthy. For a characteristic as a conservative would not be one of his finer three-point shots.


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  1. James Pat Guerréro said, on 02/24/2014 at 12:35 PM

    Reblogged this on ThursdayMan | el hombre del jueves and commented:

    Updated to revise categories and tags. Fort Myers FL is the new category for District 19 which predominates in voter population.

    Like


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