Bankruptcy Watch
Today Accuride Corporation, an auto parts manufacturer, filed for protection under Chapter 11. In the proposed restructuring agreement will cancel all senior subordinated notes. Holders of those notes will receive 98% of the common stock in the reorganized company. The…
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Today Accuride Corporation, an auto parts manufacturer, filed for protection under Chapter 11. In the proposed restructuring agreement will cancel all senior subordinated notes. Holders of those notes will receive 98% of the common stock in the reorganized company. The current common stock will be cancelled and holders will received 2% of the restructured company.
Shares in the company (OTC: AURD) dropped closed to 60% on the news, settling around $0.14.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
