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Technology Stocks : Ampex Corp.
AMPX 11.26-13.6%Nov 6 3:59 PM EST
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To: mamenikr who wrote (5601)7/4/2008 10:16:54 PM
From: ampexfan  Read Replies (3) of 5839
 
Boy, are you all out in the cornfield. The simple fact is that years ago Ampex downsized and was left with a huge pension debt. Bramson used his other sources of funding to prop up Ampex by loaning it huge dollars to pay off that obligation. The hope was that eventually the patent portfolio would pay off, and relieve the debt. When it finally became clear that that was not going to happen, the only recourse was the present deal where the company goes bankrupt and the creditors get paid by obtaining whatever is left over. The shareholders, unfortunately, are simply out of luck. You took the risk. Now buck up and move on.
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