RE: RE: read the quarterly update...Tuna you don't get it and you never will: you arer just a bag full of wind and noise, not much in the way of intelligence ever shown, but loud just the same.
Why cancel 5.5% convertible unsecured debt when you can re-purchse units you pay 15% on. And I quote "unsecured" . Thats when it dosen't make sense to shareholders. It's not the best use of the capital. It's one of the first bad moves I've seen them make and it speaks volumes. And whats worse we are going to pay for it by the reduction in our monthly income. Who wouldn't appreciate the 300 million used to shore up the stock price or take it higher by buying shares off of the open market. My guess Tuna, and he thinks they are doing him a favour!
I never said that the debentures were owned by insiders, I simply suggested that it was management serving themselves or someone who has pull with the board. It's the only thing that makes sense. Call it what you will but thats what I think it is.
By taking the write off on "trader good- will" they saved taxes to supplement the free cash flow. I wonder what the free cash flow would have been otherwise.
No it dosen't look good, I've made money here, and I'm moving on.
good luck to all, rythman