I thought that one of the many Yahoo posters answered his paid column very well:
Re: Herbie the Love Bucks
by: dunn_fortherecord (45/M/Boston. MA) 02/24/01 06:15 pm EST
Msg: 40295 of 40356
To Larry and his newly created basher id's:
"Are you saying Lev DIDN'T claim the Telcordia shares would be locked up"
-Yes, I am. Lev said that the shares would be locked up for a while, and then retracted that statement because the deal wasn't final. Maybe he should have said "it's looking that way in the negotiation". Incidentally, November to February does constitute a quarter, and that IS a while.
"Are you saying Lev DIDN'T say there would be a disclosure of the lock up?"
- Lev said that there would be a disclosure when the deal closed. An 8k was filed upon completion. It did not state that there was a lockup on the shares. Thus, when the deal was finalized, there was no lockup. It was disclosed. Are you saying that VLNC was at fault because an 8k should disclose things that DIDN'T happen? If Herbie was confused, he could have called the company for clarification... but that's right, he never calls companies in doing research for his "pay-for-bash" pieces. Why bother with the facts that don't support one's hypothesis?
"Why don't you explain to us exactly how Greenberg "distorted"?"
- He knocked Lev's integrity by citing an example of an apparent misstatement by Lev, but it was his own lack of research that caused him to make the wrong conclusion. That is the same as blaming the professor if you are the only one in class that can't understand the subject.
The bottom line is that at the point of the cc, the deal was still being inked, and Lev did not know whether the shares would be locked up or not, and he said so.
The 8k did not disclose a lockup, and thus the disclosure was clearly that the shares weren't locked up."
I've heard that this Dunn character is a local columnist in the Boston area. He makes complete sense to me. His position is certainly better than Herb's argument.
A little disappointed in you Kevin, you have shown more common sense in the past than to post from this rag. I will point out, in your favor, that you do not pass judgement on the article.
Bob |
