RE:RE:Mail Strike Great NewsNuWaveInc45566 wrote: Would we be able to elaborate on why a 'No' vote is the right idea?
This company will sell for $200MM if a No is voted and the Banks take it over. They now have a buyer lined up and know they will get their money. Once they get it, the shareholders and debs will get 0.
If you vote No, you vote to get 0. Stop your b!tchin and realize that your bet just pushed. Take your chips and move them elsewhere.
Why?
The current deal give the banks 100% of their money back, and neither they, nor the buyers would really care beyond that how the remaining funds are distributed. Paying shareholders at the expense of what is supposed to be higher priority (next to bank debt) is just plain wrong, not only for this company but for the investing community as a whole.
I remain steadfast in voting NO with my debentures, and much smaller amount of shares.
Is is a gamble, perhaps, but at this point with the little remaining value of either shares or debs, I'm prepared to take that stance, with the belief that they have to restructure the division of the remaining funds (after bank debt).