Jim and all,
A few thoughts on the SEC. I believe all government bureaucracies are similar and I work for the DOE,indirectly. There is no accountability in them because they are not motivated to produce like a private businessman. They come up with some of the most ludicrous imaginings, because often times all they do is try to provide a good reason for their jobs. This is a real strain, believe me, for almost all the ones I deal with are nice people, who do nothing for a living. I honestly could not sleep at night because I would feel guilty. No decision is the standard decision, again, because they have no pressure or motivation from the competitive real world of business. I know this doesn't help. One other thing I would interject here is this. Yes,the pink sheets stink(I was nice). I don't know all the facts,but I believe this SEC move was not a decision to try and hurt the GE prospects. I could be wrong there for sure, but usually bureaucrats don't "act" at all w/o strong motivation, such as an IRS agent making false claims against a taxpayer so he/she will receive a bonus. I don't think these typically cowardly people would be interested in doing anything that would rock their boat. What I see happening the last 2 days is a frenzy. No one should have bought at the huge spreads yesterday,pink sheets or not. As much as I hate to be seen defending a BC, I think they can't be held responsible IF anyone bought at yesterday's inflated ASK price.I seem to always make enemies and I certainly don't intend to . I am just used to these folks and it's difficult for me to believe they acted in any fashion that would cause their little coffee pot carreers to be threatened. For those who have been hanging in for the haul, this is a tempest in a teapot if it turns out that Guido is on the dime. If it turns out he wasn't, well it was a gamble you took, much as I have before. I haven't been too lucky myself for about 1.5 years.Hope you fare better than my last little while. Best Wishes to all.
TM |
