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To: Perspective who wrote (227804)3/13/2003 12:04:18 PM
From: reaper  Read Replies (1) | Respond to of 436258
 
bc -- why shouldn't they be able to do this? they took an asset of the company (an ownership stake in GMH) and gave it to the pensioners. they obviously don't have CASH to give, so they transferred them an asset instead.

now of course, SHAREHOLDERS might be a little bummed that their asset was transferred to the pensioners, but at the end of the day they're all eating from the same trough any way so economically it doesn't matter.

of course, the beauty of this plan is that if GMH drops to $5 then they'll have to transfer the rest.

Cheers



To: Perspective who wrote (227804)3/13/2003 12:13:53 PM
From: yard_man  Respond to of 436258
 
they won't get jack -- how can they?



To: Perspective who wrote (227804)3/13/2003 1:07:28 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 436258
 
IBM did that, too....

Note that the shareholders get farked either way, another example of robbing the balance sheet to save the income statement.

Around and around and around she go.....


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