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Technology Stocks : GX Investors Thread -- Ignore unavailable to you. Want to Upgrade?

To: Area51 who wrote (501)	1/31/2002 1:25:37 PM
From: MSI	Read Replies (2) \| Respond to of 586

Not proper at all. It's called "self-dealing", punishable by the SEC with the usual. I.e., "don't admit guilt, pay the SEC directly a small percentage of your lootings". The SEC uses these funds, just like law enforcement uses marijuana bust confiscations of property, so their motivated, sort of. I'd rather they be motivated to clap people in jail that violate their public trust, pay off politicians etc. To do that will require a different administration, one that hires Arthur Levitt-types, rather than the Harvey Pitt types, who is part of the screw-the-investor Enron cabal.

To: Area51 who wrote (501)	1/31/2002 1:28:03 PM
From: Gary Stern	Read Replies (2) \| Respond to of 586

The officers of a company serve at the pleasure of the Board of Directors. The Board is elected by the shareholders. If the Board directs them to propose to wipe out common shareholders it can only be because they theoretically have the majority votes to control a decision that will wipe themselves out along with the other common holders. My problem is that the "Plan" will include their being able to rebuild their own capital position with new options and other cheap shares or the use of other private capital to allow a preferential buy in. Also, the deal could have provided a bone to current common shareholders of, let's say, 25% of the company. I resent the fact that there is no offer for current owners (who took the real startup risk) and believe it is a simple outright swindle.

To: Area51 who wrote (501)	1/31/2002 2:59:46 PM
From: M. Frank Greiffenstein	Read Replies (1) \| Respond to of 586

I was talking about the odds of somebody from management apologizing, not about their fiduciary obligations. Of course you can't self-deal. GX's assets will be revived in bankruptcy which I believe was always a part of the plan. Disgusting. I have a question: How are GX's liabilities suddenly 22 billion when all the talk on this board was about debt in single digits? Doc Stone