To: Investor Clouseau who wrote (1447 ) 4/23/2000 9:18:00 PM From: Investor Clouseau Read Replies (2) | Respond to of 2005
To: HandsOn who wrote (1405) From: Investor Clouseau Thursday, Apr 20, 2000 11:08 PM ET Reply # of 1449 H.O. (HO just doesn't sound right<gg>) Don't know about those shares. I will share some of my thoughts on the buyout and some of the clues I've picked up though. 1. Yesterday TRAC started routing through ADP, instead of their normal clearing firm. This will allow 3 days for those trades to settle by Monday, just in time for the acquiring firm to start clearing our trades. 2. The new MM MASH which was supposed to be up and running last week, isn't up and running. MASH is the MM for Schwab and I think the acquiring company is not Schwab, so that was stopped. 3. Whoever bought the big blocks yesterday (5 million etc), should have to file regarding their 5% ownership by Monday. 4. Whichever firm bought those shares, now has a very cheap cost basis to acquire the remaining TRAC shares. Even if they pay $15 for the remainder, their overall cost to buy TRAC is still very cheap. Barry has been bashed without mercy because of this situation. Remember, he not only lost the $45 million trading stocks, he lost $200 million in TRAC equity. As bad as this is, I believe the thing he is most sorry for is the losses suffered by us, the average shareholder. There are also a great many insiders who hold large quantities of TRAC. I spoke on the phone today to a great guy who reaffirmed my opinion of Barry; that he is a person of the highest integrity, warmth and concern for others. IMO, it doesn't matter if he made his annual trip to Israel for Passover, because the deal is already done. We just have to wait to find out "by who and how much". I doubt it will be for less than $12.50, because the company is worth more than that. I also, would not be the least surprised if a PR came out Sunday night pre-announcing the buyout. This would surely cause a short squeeze of biblical proportions. Personally I'd like to see it happen, especially after all the unjust bashing Barry has taken. :) IC (long TRAC for long time)