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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)
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To: Ciao who started this subject11/20/2002 3:49:02 PM
From: amacdona  Read Replies (1) of 6016
 
Where is the pressure coming from?

I can understand pressure to maximize shareholder value. Any company trading for less than cash value must feel pressure. But where is the pressure to actually SELL? Even today's news release contained lots of positive statements about nearly being there commercially. All along they've taken the long view, talked in terms of years and not quarters. Garrett said in his last news conference that they've got cash for 3-4 years. Their corporate stance all along has been aimed at long-holders. So why all of a sudden do we see this Ballard-like results-NOW! imperative? There may be pressure to sell from people who bought at $1.46. But what about people who had faith in the technology, the people, their plan and their no-hype style who bought at $30 (like some of the ladies at our local after-school care) and have been long-holding. Thank heaven, my price is nowhere near that, but even at $5 I'm looking at taking a small bath.

On another note, I wonder. If they do sell, can they force the buyer to create a separate share issue that is solely SOFC-focused? Seems to me I've heard of that happening in the mining industry - the new shares relate only to a specific mining play, rather than to the purchasing company's overall operations. At least then if we accept a share swap, we could retain our stake in the fuel cell industry (instead of getting diluted into the utility industry or car parts business) with a larger-scale firm that may have longer legs.
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