Lifland Court approved everything that SGI; Alix Partners headed by Mesterharm; Secured and Unsecured Creditors; Weil et al in New York wanted in court today----approving the Chapter 11 Bankruptcy.
As appointed CEO McKenna said in the press(not to shareholders) that the shareholders would be eliminated-----they were, the only investors not to be included.
What a travesty----that a once proud innovative company from Mountain View, California and an American company has sunk to this level denying their corporate responsibiity to all investors.
SGI has entered the legions of WCOM, PARMALAT, ZENITH that Alix Partners advised.
Just remember that when the words 'RETURN TO PROFITABIITY, REORGANIZATION, "JUST BE PATIENT" , ADVISORY FIRM, RESTRUCTURING,CREDIT FACILITY, begin to come into the companies' vocabulary that the figurative vultures are being called to dismantle the company----------and "deep six", a good nautical term, the current shareholders (partial owners of the company).
These figurative vultures are the ADVISORY FIRMS that never report to stockholders-----the BOD APPOINTED CEO'S that never report to stockholders------the bastions of lawyers who FILE MOTIONS ELECTRONICALLY BUT THE SAME IS DENIED TO SHAREHOLDERS to name just a few.
Very simple-----time for a shareholders rights movement---no more Enron's, no more SGI's, no more WCOM'S, no more Zenith's etc. denying corporate responsibility to all investors.
mj |
