We should SUE to STOP this IDIOCY!
The incompetence and arrogance of this company are breathtaking.
They announce a deal, and *KILL* the stock price. A deal that
values the vast bulk of their business at only $10,000,000!
What kind of idiocy is this?!?
They've just totally changed the terms of investment in the company, from an investment in a modem maker with a reasonable basis for comparison, and a solid brand name and market niche, into a totally speculative investment in an unfunded company with zero available
product of substance... and who has *REPEATEDLY* demonstrated their *INCOMPETENCE* when venturing outside their core competency.
Let's run down the list:
English ISDN manufacturer takeover - NOTHING, and then firesale the assets a couple of years later.
GlobalCenter - millions of dollars poured into R&D with nothing to show for it... then spin it off, and bail out (at least they made some money... but I bet the corporate distraction wasn't worth it).
AirMedia/Newscatcher - NADA. Firesale for multi-million dollar loss.
And we should trust them to take the $10,000,000 they got for their final asset of any value, and turn it into something worth four
times that (the $40,000,000 market value the company had this
morning?). No wonder the damn stock nose dived!
Sue, I say. Take it to the shareholder's meeting and demand they
get a better price! |
