NYSE drops Kaiser Aluminum Corp. listing

SPOKANE, Wash. - The New York Stock Exchange has delisted Kaiser Aluminum Corp., but a company spokesman said the move doesn&#39;t affect operations or the company&#39;s Chapter 11 bankruptcy filing. <br> <br> &#34;The practical impact of delisting on the company is nil,&#34; Kaiser spokesman Scott Lamb said Wednesday. Kaiser shares will be traded over the counter. <br> <br> Although Houston-based Kaiser can ask for a review of the decision, made Tuesday, Lamb said that was unlikely. <br> <br> Over-the-counter trades are conducted through a telephone and computer network connecting dealers in stocks and bonds, rather than on the floor of an exchange. <br> <br> The NYSE can delist companies if their share price is less than $1 for 30 consecutive trading days. Kaiser common stock has not traded above $1 for two months. <br> <br> On Feb. 12, Kaiser filed for Chapter 11 bankruptcy protection, listing $3.1 billion in liabilities, and including about $800 million of debt due within the next few years. <br> <br> The company has access to about $300 million of debtor-in-possession financing to help with the costs of day-to-day operations. <br> <br> Kaiser has major aluminum mills at Trentwood and Mead near Spokane, and in Tacoma. <br> <br>

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