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Biotech / Medical : CNSI Cambridge Neuroscience
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To: Green Receipt who wrote (349)3/10/1998 2:27:00 PM
From: Ken Renalds  Read Replies (1) of 675
 
Two things baffle me:

1) 30 people are laid off at a cost of 800,000. This is almost 27,000 per layoff. Isn't this extremely high??? What kind of severance package is being offered???

2) Most of the investors in this stock are holding the stock at a loss. Why pay a dividend that will be taxable as a gain??? Why not institute a buy-back plan rather than pay a dividend??? It would be more tax friendly and add appeal for the stock as if it actually has some medium to long-term value.

These appear to be moves out of desperation. The attempt to "maximize investor value in the short term" is scary.....no real explanations, no real plans, no real direction. What are the real motivations here??? Is there anything of value left in this company??? If not, liquidate the whole thing and give me the 2.00 per share while the 2.00 per share is still available.

Any insight appreciated.
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