Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : (SGI) Silicon Graphics and Related Companies -- Ignore unavailable to you. Want to Upgrade?

To: jdsh who wrote (991)	10/27/2006 10:59:20 AM
From: R2O	Read Replies (1) \| Respond to of 1015

On a personal level if I owe people money and I tell them that I am re-inventing myself and will make me a lot of money very soon SGI actually said: "sit tight, we have things in hand till the end of the year. We hope everything will be OK" At the same time they were arranging for a bankruptcy. If you did that you would be justly accused of fraud. Why would SGI officers not be so accused? At the same time, they were (in anticipation of bankruptcy) creating deals for themselves. We foolish stockholders, willing to accept business risk, were purposely deceived into believing the statements of management. This is fraud. I would think that these actions come under the civil RICO statutes. Anyone know the statute of limitations on RICO? Deals made in anticipation of bankruptcy are (AFAIK) invalid. I would think any compensation or employment contracts and agreements would surely be made in anticipation of bankruptcy since the very subjects of those agreements were negotiating for bankruptcy. R

To: jdsh who wrote (991)	10/27/2006 12:43:08 PM
From: MJ	Respond to of 1015

Welcome to this board. When I started this board, I did so because of the strong possibility for a "return to profitability for all investors"-----also to learn the truth about SGI. What I learned was that the truth was not evident in the press releases. These gave the appearance of a company with many contracts and working partners solving many problems throughout the world. Starting this board coincided with the public announcement of the hiring of Alix Partners. This seemed so reasonable-----hire a professional firm to analyze and to advise the company on steps needed to be profitable. Ultimately, the truth that came out was that the professional firm hired to advise was an expert in restructuring firms through the bankruptcy process. Of course, shareholders never had a written report from Alix Partners or an open meeting to hear their plan----just as we never heard appointed CEO McKenna's plan as he promised. The only communication we received were via the press releases and the conference calls with Bishop that promised a return to profit before and when Alix was hired. Your use of the words "ethics" and "ethical" are very appropriate words to use. Like you, I question the ethics of this takeover. mj