My view of the situation, someone stopped converting. This caused an up tick in price which people were quick to miss read. Mix this with greed, beautiful greed, and the rest is history.
Anyway, we are headed back down. Once conversion begins again, we will be forced into new lows.
I didn't like this paragraph in the 10/27 PR biz.yahoo.com
"Many discussions have taken place, but to date none have led to any firm proposals. While such discussions are continuing, there can be no assurance that those discussions will reach a successful conclusion, or that if successfully concluded, would lead to any benefits to existing or potential shareholders."
If I may paraphrase, "No assurances that a takeover would lead to any benefit to shareholders." That's the part I'm referring too. Investors have a good chance of getting flushed along with their worthless shares.
All these guys have to do is go chapter 11. A suitor can buy them for their debt and brush off the common holders. Happens all the time. Did someone mention Zenith?
Cry babies will cry class action, but we have been forewarned. |
