Is this an example of "testing the bottom"?
I guess I have a lot to learn about the stock market, but based on the following screen shot of a portfolio taken a few minutes ago on the Wall Street Journal's website, it appears that Cox Communications will actually pay you $1.00 for each share you're willing to take.

On the face of it, that sounds like a pretty good deal, but knowing my luck in the market, I'd probably end up having to pay someone $2.00/share to unload it.
Okay, send the curious to google. Here's what I found.
Privatization: On December 8th, 2004, Cox Enterprises Inc. announced the successful acquisition of the publicly held minority interest of Cox Communications, Inc. (CCI). Cox Holdings, Inc., a wholly owned subsidiary of Cox Enterprises, acquired CCI through a cash tender offer for $34.75 per share and a short form merger was completed. CCI Class A Common Stock was consequently delisted from the New York Stock Exchange on December 9th, 2004. As a private company, Cox Communications no longer trades on the NYSE, nor does it provide financial information to the general public. Please refer to the FAQs page for information on how to tender outstanding Cox Communications shares and for historic stock prices.
Ahhh, Eric. You could be very wise investors like members of my family....the ones that bought K-Mart stock at a premium of waaaaaaay below the norm, and held on to it.
All the way to the bank...I mean bankruptcy. Where the judge declared the company insolvent, Sears bought it, and reissued stock. The old stockholders got...
absolutely nothing.
Still looks good on the investment portfolio, though, until you scan across the page and see the zeros.
Posted by: Janie at October 25, 2006 10:34 PMJanie, where do I and John send our payments for your financial research? ;-)
I guess this mean that they really won't pay me to take their stock after all.
Now, let me axe you dis: is there anything scarier than a privately-held cable company?
Posted by: Eric at October 25, 2006 10:35 PMWell, suh, I ratly don't know. I'll be a ponderin' that question, and gettin' back to ya soon enuf...that is, if'n I don't get too skeered.
Posted by: Janie at October 25, 2006 10:56 PMDude, there is no HAL on your stock portfolio. You might be missing out on the NEXT BIG WAVE !!!
Disclaimer: That is not a stock tip. I just noticed CVX and other slick-em related stocks and saw that Big Red was not in the "chosen" group.
Posted by: Janie at October 25, 2006 10:59 PMWell, this is not my portfolio. Actually, I'm pretty sure I don't even have a "portfolio," other than the one in which I keep a tablet of paper. We are passive investors in a couple of the stocks listed (you can guess which ones), but the others are included for reasons that are either obscure or forgotten. For the life of me, I can't recall why I had Cox listed in the first place.
Posted by: Eric at October 26, 2006 08:06 AMI think this is reflective of the problem in America, of "negative savings." It is very possible that Cox is willing to pay people $1/sh to take over their debt, which probably exceeds this amount. Why else leave the listing on the exchange after they've gone private? Bizarre.
Posted by: gwynne at October 26, 2006 02:17 PMJanie:
Thanks for the research. I suppose I could have googled it myself. However, I'm much more likely to sit and curse the darkness while waiting on someone else to light a candle.
Posted by: John Peter Smith at October 26, 2006 08:56 PMJohn...
No problem, dude. I'm here to serve...most of the time. :)
Posted by: Janie at October 26, 2006 09:18 PM
Hmmmm... I tried to look up Cox Communications on the WSJ's website and it said that they could not find any company with that name or symbol. I guess their business model didn't work out.
Posted by: John Peter Smith at October 25, 2006 09:02 PM