Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (41780)	4/7/1999 4:00:00 PM
From: marc chatman	Read Replies (1) of 95453

Perhaps. The price has gotten so whacked that the 300,000 share trade that crossed could have been an individual. Probably not, though. It's mostly the tone and brevity of the release which has me bothered. It's rarely good when a sitting Chairman takes over for the CEO. In my experience, it usually means that the CEO got the boot. I suspect this has been in the works for awhile, possibly just waiting for the bond issue. And, if the departure was over whether to sell the company (which I strongly doubt), any sane businessman would have announced at the same time that the company would be exploring "strategic alternatives." If the release had said that, the stock would be trading at 10 now, not 6 and change.

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