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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?
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To: Arthur Tang who wrote (272)3/2/2000 8:52:00 AM
From: Arthur Tang  Read Replies (1) of 305
 
Some statistics on message boards and shares owned by stockholders are showing up on the Raging Bull svcdq board. Raging Bull has mostly daytraders and new investors. It could reach half of the volume traded on the OTCBB last month.

The Yahoo board has employees and management of svcdq. It has not been appreciative of the formation of a stockholders' committee yet. The reason is obvious now. The people at SVCDQ are not yet convinced that the management will cramdown on stockholders in the end. This, of course, depends on the fortunes of svcdq at the time of releasing the reorganization plan, as late as April, 2001. And the insiders do have control of svcdq fortunes.

From the statistics, we can summarize that management and employees do own substantial portion of the stock outstanding, since institutions have been shedding their investments for quite a few years. Small investors owning svcdq stock over the years, have not been vocal; and may not even use internet message boards.

What the management has to beware of is the contingency lawyers (however, most don't belong to bankruptcy law profession and may not be acceptable in the bankruptcy court) who might do class action suit to represent all the stockholders. Management will have a lot of headaches then. Fleet Retail has no provision for that event. Lets hope that things will not degrade to that level.
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