IRID - Iridium World Communications IPO Announced! Message Board

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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: FESHBACH_DISCIPLE who wrote (2517)	12/7/1999 1:56:00 AM
From: FESHBACH_DISCIPLE	Read Replies (1) of 2693

Financial pornography copyrighted I will tell you a story. As I look out my office window I can see a Gander Mountain store. Gander Mountain is a well known sporting goods retailer and catolog company in the Midwest. The parking lot is almost always full, especially now with deer hunting coming up in Wisconsin. I love the store and shop there all the time. Several years ago a friend of mine who is an avid hunter felt the same and bought 1000 shares of GNDR (nasdaq) at 12 . He thought Good Stores, Nice People, Always busy, the stock must be good. They had a lot of debt and ran into a cash crunch (sound familiar) and he wound up selling for about .40 cents per share (400 dollars he otherwise never would of seen). A few months later it stopped trading and went to zero. What happened? Gander Mountain is still there and the parking lot is still full. The shareholders were wiped out and the stores were bought by another retailing company (Holiday, I believe). Holiday, of course, WAITED UNTIL GANDER MOUNTAIN FILED FOR BANKRUPTCY AND WIPED OUT THE SHAREHOLDERS, before they stepped in. In bankruptcy, the debt was signifigantly reduced or eliminated and THE BONDHOLDERS RECEIVED WHAT WAS PAID IN THE LIQUIDATION. Holiday could have bought all the stock for a quarter!!! but then THEY WOULD STILL BE IN DEBT TO THE BONDHOLDERS. I could tell you dozens of similar stories. It happens all time. My friend still mutters and doesn't understand what happened whenever he drives by a Gander Mountain store. Even if all the positive things you are saying are true, and I believe they are or I would never have speculated on the stock in the first place, the bottom line is it doesn't matter. The shorts have made their money. The professionals are not trying to go on the YAHOO MESSAGE BOARDS to drive the stock down another dollar. That is ridiculous. You can't short a stock under five dollars share so there are no new shorts out there. The damage is done. The professional shorts may book their gains now or just wait for it to go to zero. The lack of knowledge about deathwatch companies on this board is incredible. For kicks, I will continue to monitor the postings on this board. Good luck to you.

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