Like Ted, we bought Delta, too. This article explains how stockholders who bought prior to K-Mart’s bankruptcy lost everything. Those who bought into the new company (K-Mart Holding Company) have done quite well. Hope those Delta pilots give in before Delta has to declare bankruptcy.

Kmart’s investors gather as stock soars – 05/25/04

I thought the risk was the company would fold, not realizing the stock could just be “cancelled” and the company come back with a new set of stockholders. Think I’ll just bury our money in a box out back.