Big Steel's Cold Shoulder

Regarding your article "Fat City for Big Steel" (American News, Aug. 22), the fires at LTV Corp. were kept burning only by investors who believed they would come out of bankruptcy court. That was the case, but the stockholder was credited with almost worthless warrants. To me, stock is part ownership in a company, and nobody should be able to reorganize into warrants. When the tough times return, this investor will wait until the fires turn completely cold.

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