Thanks Jeff M.

After a recent post Jeff M. pointed out what happened with United Airlines. United Airlines went into bankruptcy and while they were there they cancelled their common stock and reissued it.

Basically, the people hanging onto UA's stock lost everything when the cancellation and reissue occured.

So, I called Delta Airlines Investor Relations and I asked them if a cancellation of there stock was planned. Sure enough, as part of their reorganization Delta plans to cancel common stock and reissue new stock--this will occur sometime between now and March 27, 2007.

In other words, Delta's stock is a ticking time bomb. Investors rarely do their research--that statement includes myself--the reissue is written into their bankruptcy plans, and at some point the 150 million shares outstanding will be worthless.

So, I sold 10,000 shares of Delta Airlines today for $1.24 a share. So, I only made a 93% profit on the trade when I was hoping to make 1000%. LOL.

Thanks Jeff M.