Scott...ML will make a lot of money with the Chapter 11 thing. That, I feel, has been their plan for a long time. Remember..."you know, go in, go out, we all make a lot of money...".
Well, ML had to make a deal with the devil to accomplish "go in, go out". What a sweet deal for which all of us common stock shareholders provided the money!
I have read the recent 8K "ammendment", and must tell you that I don't understand a lot of it. However, I did not see anything that would enhance the common stock shareholders. That is what I was searching for and did not find.
And if the "plan" does not go through, then what? One thing, I think it would be easier then to get rid of the board and CAI management.
Another approach that I would like to mention to all. If all else fails, and I don't think they all will, we still have a good chance to appear at the Bankruptcy Court hearings and appeal personally to the Judge assigned to the case. I did this once where Chapter 11 for a company that I worked for was going to eliminate severance pay that a group of us were promised for early retirement. Some of us wrote the Judge explaining how we felt that we were being wronged by the company, and that we would be in court to see firsthand how American Justice worked. No one felt we had a chance, but we showed up without a lawyer, and explained that the Court must protect people like us who were being wronged by a large company. The Judge ruled in our favor and ordered severance pay to be paid.
Maybe we could get a group of 1,000 shareholders to show up at court with signs about ML and injustice! TV coverage of such an event would make good PR for ML!
VanGo101...Van |
