Mr. Newman (aka stock5656):
What happened to your opinions from a month ago (https://www.siliconinvestor.com/readmsg.aspx?msgid=2871498)?
"They are looking for a new CEO one of three things can happen: 1. someone buyes them out. 2 They merge with a bigger company 3. they get a new mangagment team. What ever happens it will be good for the shareholders. ... The CEO told me he put his life savings into this stock, he will do everything he can to bring value to the shareholders."
I believe you want value from your investment in VVTV, as I want value from my investment in NM. NM management was (kindly) sub-par. Since the essential Safeguard take-over of the board, with their man (Bob Verratti) as CEO, NM was able to initiate a clean-up of its operations. You can be sure that they have written off everything they possibly could have, so that all the bad news is behind them. I can't speak to VVTV management, but apparently you are also dissatisfied.
Remember also, NM is the biggest in infomercials, and big does have advantages. This stock traded above $20 in 1996, and was above $10 in the beginning of 1997. VVTV hasn't seen $10 since the beginning of 1994, on its way down from an all time high of about $15. NM/VVTV can get back there--they both have strengths that complement each other, and they both have apparent, hopefully past, management weaknesses. There will be a new CEO.
I realize that both sides probably would have liked to see an acquisition at a large multiple of the current respective stock prices (I myself was hoping for $15-20), but that's not going to happen. I think we do, though, have a chance to back what can become the biggest player, with the greatest revenues, and overall enhanced shareholder value, too. I'm willing to give it a shot. I trust Safeguard's leadership of the "new" NM. They didn't have to put anyone in to help (their direct investment is only about 180,000 shares, plus warrants (~2M?) exercisable at $4.80. However, from previous conference calls, I believe they feel an obligation to their shareholders who may have followed SFE into the NM investment.
My opinions, only, and I wish good investing to all involved,
--John |
