XOXO, since when are all dollars not equal? I don't understand how it is ethically and legally that a company like XO Communications can effectively declare bankruptcy "Privately".
So they get a cash infusion because the company has a viable business plan? Should be great for all the shareholders who faithfully paid their money for equity shares, right?
According to published reports, they will dilute the common shares to practically nothing and go on their merry way.
Statements to the effect, 'This will be good for the company..' 'It will reduce the debt from 5 billion to 1 billion.' Well, as a holder of shares of that company, should it not be what is good for the company would be good for those who own the company?
NO. Pay attention investors, all owners are not created equal. The boys who know how to play the game make sure their shares, the managements' shares, the bankers' shares are protected. You agreed when you bought those lowly common shares that you'd let others decide your fate...
I think I like Naveen Jain more now. I think I have that much more trust in him as a CEO who is attempting to create real value with INSP. Even if his work schedule is to be only 1/2 believed, he comes across as very hard working...What does scare me though is that INSP seems to be an incubation company for great ideas, paying many engineers for creating visionary concepts and products, only to see many of those ideas end up in the hands of private companies.
I get scared that our markets are becoming a cash cow for the private companies and elite individuals at the expense of our public companies and us retail investors.
This may be my last post, see I have Excite@home broadband and they may be pulling my plug.
How truly sad for us, goodnight (god bless all you Enron employees who now have no retirement, savings, or jobs).
Lawsuits cannot save us. The SEC? Excuse me while I cry... |
