Here's my bit of optimism: If they really wanted to milk the company for their own short term benefit, they would have done so by now and the company wouldn't be around. I can't see why they would have managed the debt so well unless they were in it for the long term. Also, it seems to me that operating ICG successfully could make them far more money than simply scavanging its assets. Those assets are so undervalued right now that building them up and getting them properly valued should get reflected in the stock price. If that happens my portfolio will improve and I imagine theirs will improve a hundred or thousand-fold.
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Well, so far, mngmnt has made out pretty darned good, while the retail investor has basically been screwed, unless you were lucky enough to buy the bottom, sell near $1 and get some free shares...but long term holders have been killed in this stock....insiders are making their millions regardless.......You do bring up some valid points, such as them being ridiculously undervalued if you look at their holdings, and their reduction of debt....those can also be looked at as negatives....They really had no choice but to lose some of that debt and get the balance sheet looking alot better or they would be far worse then they are now and possibly gone already.....Insiders will always milk everything they can....who knows if they stand to do better by attempting to increase icge shareholder value or selling off assets as they have been doing.....it would seem logical that they would do far better by doing the former and turning ICGE into a behemoth, but either way, the insiders will make their millions, and to what degree, and how, are they going to increase value of the company?? Look what they already have done..no need for me to re-hash things, but over the last year, icge has done everything right....everything to show it is serious about success....yet what have the results been? The street is still looking at icge with very skeptical eyes, and until the street is convinced ICGE can be more then what they are, it is going to be an uphill battle...one I hope they win, of course. |
