Part of my Delta story. Here are some other posts about Delta. 1) Delta: The Comeback Kid 2) Delta: A New Hope 3) Delta: The Last Stand 4) Delta: Talk to the Hand

Tomorrow Delta will probably not sell out to U.S. Airlines. The past eight months I’ve received over 120% return and the stock has now stabilized around $1.10 a share. For every investment you take part in, you need to have an exit strategy. I was planning on selling Delta when it reached its all time high back in mid December, but I thought it would go up just a little more.

Why am I deciding to sell my Delta? This is the reason why… “Trading in Delta’s common stock was suspended by the New York Stock Exchange shortly after Delta’s Chapter 11 filing in 2005. The stock was delisted shortly thereafter and now trades in the “over-the-counter” market on the “Pink Sheets” (www.pinksheets.com). The new trading symbol for Delta’s common stock is OTC: DALRQ. Under the proposed plan of reorganization, current holders of Delta common stock would receive no distribution, and the securities would be canceled upon the effective date of the plan. Delta has indicated for some time that the company expected its common stock would not have any value under any plan of reorganization the company might propose, which is not uncommon in Chapter 11 proceedings.”

My speculation has paid off and I’m running with the money that I’ve made. I would highly consider selling if you own any Delta stock because after the Chapter 11 settlement the stock will be worthless. Delta has commented on the possibility of reestablishing a corporate entity that “actively trades on the stock market.” If they do issue new stock, I will almost guarantee my involvement in the New & Improved Delta.

This just in! U.S. Airways has taken the bid off the table; which guarantees Delta will establishment of an independent company. Congratulations Delta!

“CHICAGO (Reuters) - US Airways Group Inc. withdrew a $9.8 billion bid for bankrupt Delta Airlines on Wednesday, taking pressure off rival carriers to consolidate.”