It's what it's... enjoy the ride up
Yasch22, I don't buy your debate that PW sprang into action to save BlackBerry from the Gartner vulture fund doing a LBO as you have described. ______ Let me tell you your theory doesn't hold water.___ JC said in the last two quarter ER that he has the intention to pay off the debenture, tested by the stress test. In other words, BlackBerry doesn't need the debenture money.___ Your argument was PW had to do a fast and sudden new debenture due to a potential LBO from the vulture Gardner. PW is saving jobs in KW. You are so happy that the debenture was proposed. Giving up control of BlackBerry is not a concern to you. Defeating the LBO is the end all and be all. How the 15% penalty payment is such a smart strategy to stop a LBO.___ Are you sure? 15% can be a show stopper for a LBO? If the margin is that thin, is it worth for a LBO?______ The second clarification press release contradicts your theory as well as JC's view. It says the BOD has been looking for the refinancing of the debenture since end of 2019!___ So according to the board, BlackBerry is not fighting a Gartner vulture LBO like you argued, unless the BOD has a nine month vision that the Gardner LBO is coming.___ It's also a complete contradiction of what JC said for the last two quarters! (Pay off the debenture)___ Also if the BOD has searched for so long for a refinancing, there must be some quotes. No?___ It indicates that what actually happened was it all took place between when PW proposed the deal in June and a week or so later it was approved by the BOD! There was no time to get other alternatives. You justify it because of the Gartner vulture fund and a LBO is knocking at the front door. ______ I think JC is an unwilling participant for PW's greed. In the first press release, it even gives you hint as to where to make your complaint...TSX and NYSE regulators. So Gartner did just that. ______ It was a compromise with the final outcome of the debenture. The number of shares converted is exactly the same as the last debenture (@ $6/share instead of $10). I see this as the last thank you gift to PW.___ The good outcome is that BlackBerry did not give up the control position @ $6/share. That would have been a disaster for the shareholders. ___ We have seen what happened to Fibrek.______ I understand you said you like debate as an exercise. You are debating. You are not looking at the facts on the ground. Look in front of your eyes, who is benefiting? You don't see PW is benefiting from shareholders but PW is doing it all for shareholders, to save the company from the Gartner vulture. If PW really wants to do that, just buy shares in the open market at less than $6/share!______ A lot of shareholders are hurting. They are not interested in a debate contest. They are disgusted with the unnecessary debenture.___ Gartner is a shareholder. Maybe in this case, based on their history, it is the Gartner kettle calling the FF pot black. Only thing is the kettle is on the receiving end this time. ______ It is what it is...relax...and enjoy the ride up...BlackBerry is back!