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Gold/Mining/Energy : Solv Ex (SOLVD)
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To: leigh aulper who wrote (5091)11/20/1997 7:36:00 PM
From: Gary L Schultz  Read Replies (2) of 6735
 
Leigh,

Yep. I don't know about the Marines landing, but you are quite right about the 'simple' resolution. When you boil it all down, Koch walks away with 78% plus of the company for around 30 cents on the dollar. There is no mention of a stock deal, instead, Koch is buying the assets of the company.

Yes, the road ahead is mighty cold and really long too - looks like the stock really reacted to the news today??

What did Rendell mean by the following quote:

<Meanwhile Rendall said he's always been confident in Solv-Ex's technology and said the company will re-emerge from bankruptcy proceedings healthy. "I believe we've had a small detour to get there but get there we will. I'm not more happy than I've ever been or less happy. My happiness is not tied to my circumstances.">

Evidently, SOLV still controls the family jewels ("The Process") - Koch has not indicated anything to date about adopting "The Process".
Summation: No one is interested in "The Process"

A "small detour" - jeez! This is the understatment of the year! Typical Rendell - downplay the facts and hype the rest.

And how about "my happiness is not tied to my circumstances". Sounds pretty philosophical to me. Sounds like ole Ren'y is trying to reconcile the loss by finding solace inside himself. What a CEO!!

Sorry, but today was not good news for any SOLV shareholder. You just had 3/4's of your company ripped off by Koch and the legal system.
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