List of Special Situation/Post Re-Org Equities Traded on the Distressed Desks

Over the long weekend, I went through my dealer and broker runs to come up with a equities that are either:

1. Post Re-Org Equities
2. Equities trading at distressed levels
3. Companies currently in bankruptcy
4. Equities that used to trade at distressed levels and are still held by a number of distressed funds.

You will notice on the list below that if the issuer stock is not traded publicly, I have marked it as "Privately Traded on Desks." These situations require investors to sign a confi agreement to receive information on the company. They are usually very illiquid (Delphi being a very good exception) and more often than not, if a desk is telling you to buy these securities, it means they have a large seller on the other end. Fortunes are made in these securities in bull markets, but when things go south, you will see them quoted down to unheard of levels. And because they are so rarely traded, you have to rely on the marks given to you by the desks. Yes you can fight them on it, but its rarely a worthwhile effort. They are sometimes called "hedge fund hotels" and "roach motels" (at least when you can't get out of the security).

Of the listed equities below, they would make excellent application ideas on the Distressed Debt Investors Club. There are 40 spots left of the 250 member limit. We currently have over 3,000 buy side and sell side guests. If you are interested in applying, please contact me. Without further ado, here is the list of special sit stocks traded off the distressed desks:

ABH - AbitibiBowater

ABVT - AboveNet Inc

ACW - Accuride

[Privately Traded on Desks- S1 Filed] - Aleris Inc

[Privately Traded on Desks- S1 Filed] - Ally Financial

ALLY 8.125 - GMAC Capital Trust Preferred

ALLY 8.5 - Ally Financial Perps

ARHN - Archon Corp

ACAS - American Capital

[Privately Traded on Desks] - American Media, Inc

[Privately Traded on Desks] - Angiotech Pharmaceuticals

[Privately Traded on Desks] - Anvil Holdings

[Privately Traded on Desks] - Ashmore Energy

AVRW - Aventine Renewable Energy

AUMN - Golden Minerals

BKEP - Blueknight Energy Partners

BLC - Belo Corp

[Privately Traded on Desks] - Building Materials Holdings Corp

[BLLY or Privately Traded on Desks] - Bally Total Fitness

BGPIQ - Borders Group

[Privately Traded on Desks - 144A] - Broder Brothers

BUFR - Buffets Restaurants

[Privately Traded on Desks] - CDX Gas Inc

CHTR - Charter Communications

CCHJW - Charter Warrents

CCMMW - Charter Warrents

CHHP - C&D Technologies

CCMO - CC Media Holdings

[CEMJQ - Privately Traded on Desks] - Chemtura Stubs

CHMT - Chemtura Equity

CNB 7.875 - Colonial CAP Trust Preferred

CNB 8.875 - Colonial BancGroup Preferreds

CIT - CIT Group

CDELA - Citadel Broadcasting Class A

CDELB - Citadel Broadcasting Class B

CDDGW - Citadel Broadcasting Warrents

CMLS - Cumulus Media

CODE - Spansion Inc

COSH - Cooper-Standard

[Privately Traded on Desks] - Crescent Resources

DAN - Dana Holding

[Privately Traded on Desks] - Deep Ocean Group (f/k/a Trico Marine)

DEXO - Dex One Corp

DIMEQ - Wamu/Dime Bancorp Warrant

DRL - Doral Financial

DPH - DPH Holdings (Delphi)

[Privately Traded on Desks] - ECI

[Privately Traded on Desks] - Education Media & Publishing

[Privately Traded on Desks] - Elkhorn Mining

EPL - Energy Partners

[Privately Traded on Desks] - Express Energy Services

FCSC - Fibrocell Science

FDML - Federal-Mogul

FMCC - Freddie Mac & All Flavors of Preferreds

FNMA - Fannie Mae & All Flavors of Preferreds

FRP - Fairpoint Communications

FSNN - Fusion Telecommunications

FTWR - FiberTower

[Privately Traded on Desks] - Freedom Communications

GGP - General Growth Properties

GLBC - Global Crossing

GLBS - Globus Maritime

GLPW - Global Power Equipment Group

GM - General Motors

GM 4.75 - General Motors Convertible Preferreds

GM/WS/A - General Motors A Warrants

GM/WS/B - General Motors B Warrants

GRA - WR Grace

GSAT - Globalstar

GRKT - Greektown Superholdings

GSIG - GSI Group

GCVRZ - Sanofi Adr

[Privately Traded on Desks] - Haights Cross Communications

HAWKQ - Seahawk Drilling

[Privately Traded on Desks] - Hayes Lemmerz

HEARQ - HearUSA Inc

[Privately Traded on Desks] - Hellas Telecommunications

HWLT - Hawaiian Telecom

[Privately Traded on Desks] - Hawkeye Renewables

[Privately Traded on Desks] - Affinity (fka Herbst Gaming)

HHC - Howard Hughes

ICOG - ICO Global

[Privately Traded on Desks] - ION Media

[Privately Traded on Desks] - Insight Health

ITWG - Internationational Wire Group

[Privately Traded on Desks] - Journal Register

[Privately Traded on Desks] - KGen LLC

LEA - Lear Corp

LYB - LyondellBasell

LALWF - LyondellBasell Warrents

[Privately Traded on Desks] - Mark IV Industries

[Privately Traded on Desks] - Marsico Capital

MASWF - Masonite Worldwide

[Privately Traded on Desks] - MediaNews

MERC - Mercer International

[Privately Traded on Desks] - Merisant Worldwide

[Privately Traded on Desks] - Mesa Air Claim

[Privately Traded on Desks] - MGM Studios

MMPIQ- Meruelo Maddux

MTOR - Meritor Inc

[Privately Traded on Desks] - MXEnergy Holdings

MX - Magnachip Semiconductors

[Privately Traded on Desks] - North Atlantic Drilling

NNHE - Neenah Enterprises

[Privately Traded on Desks] - Newark Group

[Privately Traded on Desks] - Newhall Land Development

NRTLQ - Nortel Networks

NTKS - Nortek

NVIGF - Navigator Holdings

NOF NO - Northern Offshore

[Privately Traded on Desks] - Oriental Trading

[Privately Traded on Desks] - Pacific Ethanol LLC Units

[Privately Traded on Desks] - Penton Media

[Privately Traded on Desks] - Philadelphia News

ORMT - Ormet

PBSOQ - Point Black Solutions

PHOS - Phosphate Holdings

PPC - Pilgrim's Pride

PNC/A - Postmedia Network Canada

PTGI - Primus Telecom

QLTY - Quality Distribution

QUAD - Quad/Graphics

[Privately Traded on Desks] - Readers Digest

ROIAK - Radio One

[Privately Traded on Desks] - RHI Entertainment

RMYI - Remy International

[Privately Traded on Desks] - Satelites Mexicanos (SATMEX)

SALM - Salem Communications

SBGI - Sinclair Broadcast

SEAOF - SeaCo Ltd

SEMG - SemGroup

SIX - Six Flags

SFI - iStar Financial

SGGH - Signature Group Holdings

SGU - Star Gas Partners

SOA - Solutia Inc

SPB - Spectrum Brands

[Privately Traded on Desks] - Stallion Oil

[Privately Traded on Desks] - Star Tribune

SPMD - SuperMedia

TMB CN - Tembec Inc

TSTRQ - TerreStar

TPCG - TPC Group In

TRMAQ - Trico Marine Prepetition Equity

TROX - Tronox Inc

[Privately Traded on Desks] - Trump Entertainment

TPCA - Tropicana Entertainment

[Privately Traded on Desks] - Tropicana Las Vegas

USCR - US Concrete

[Privately Traded on Desks] - US Power Gen

[Privately Traded on Desks] - US Shipping

VRML - Vermillion

VC - Visteon Corp

VTSS - Vitesse Semiconductor

WALK - Walking Co Holdings

WAVE - Nextwave Wireless

WM 5.375 - Wamu Trust Convertible Preferred

WAMUQ - Wamu Preptition Equity

[Privately Traded on Desks] - WCI Communitities

[Privately Traded on Desks] - Wolverine Tube Reorg Equity

XOHO - XO Holdings

XRM - Xerium Technologies

VKSC - Viskase Cos

[Privately Traded on Desks] - Vitruvian Exploration

[Privately Traded on Desks] - Young Broadcasting