waiting for something new to talk about.
Doesn't the preferred rights provision qualify? vbg.
I was considering getting back into SONS, which is cheap as can be, horribly undervalued, after the new CEO got appointed, after Legatum changed its position from that of a passive investor to an active one.......then it does something typically boneheaded from a strategic standpoint, implements a senseless preferred rights provision.
This is the Gang That Couldn't Shoot Straight redux, Keystone Kops, the sequel.
Legatum is the perfect partner, patient as Job, so SONS fights it rather than listen to its very valid concerns.
I am not impressed with the new CEO. He had to be behind the pref. rights idea or at least blessed it. Has a history of being in losers.
How can a company with so much potential screw up so vigorously and so repeatedly? How can it select higher management so poorly?
Unfbelievable.
I am surprised you are still long.
I might buy some shares just for grins but no significant buying. In this market, with the macroeconomy doing as poorly as it is, the microcaps with horrid management are going to suffer. Last Friday is a good example of what awaits companies with 'issues.' Even if it reports in a stellar manner, the pref. rights provision is an albatross around its neck.
I hope Legatum goes for a proxy fight, that it is successful and that it cleans house.
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