Wednesday, March 4, 2009

Monaco gets delisted from NYSE

From the Business Journal:

Monaco Coach Corp. shares have been removed from the New York Stock Exchange and will now trade on the over-the-counter markets, the struggling recreational vehicle manufacturer announced Wednesday.
The move comes two days after the Coburg-based company laid off all but 150 of its 2,225 employees — including nearly 1,400 in Oregon — and said it could shut down if it doesn’t find a buyer or new financing.
Monaco’s shares plummeted nearly 87 percent Monday, leading the New York Stock Exchange to suspend its shares Tuesday due to an “abnormally low” trading level, the company said.
Monaco shares are now being quoted in the Pink Sheets under the ticker symbol MCOA and the company is taking steps to also be quoted on the OTC bulletin board.
The company’s shares were trading just below 3 cents on the Pink Sheets Wednesday
morning.

I think those jobs are gone for good.


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