RE:RE:Thanks Pennywise. Yes im thinking they will sell privatlyJust some idle musings on a board with a handful of us left who want vindication for an investment gone bad.
About 10 years ago I worked for a company that went bankrupt here in Canada. I was hired by the court appointed trustee to assist wrapping up the company. As I reflect on that process, I distinctly remember a few things the trustee said to me as he referred to the bankruptcy proceedings, employees who got screwed and sale of company assets:
"Blood is thicker than water and money is thicker than both"
"It's about money... It's always about the money"
He was referring to all the employees who held equity along with the common shareholder. Trustees work on behalf of secured creditors first and foremost. We all understand the concept of "secured" I imagine? They are the folks who have the rights to the assets - they accept less return for less risk.
We have invested, but common equity is unsecured. Surely we are all aware of that? We can potentially realize more return but for more risk.
If this is not a comfortable position, sell your equity positions and restucture your portfolio to hold secured debt instruments and make your 5-7% without worry.
I will continue to read with interest, but it is time to move on.
See you out there.