Market is getting impatient for Mittlemam/Frischer to act. The market clearly does not have confidence in the current BOD/management as the price has fallen inspite of 2 share repurchase programs. The only thing supporting the price is the expectation that Mittleman / Frischer etc. are about to take action to make substantial changes. With over 5 weeks having passed since the charade of an AGM without action it seems that the market either doubts that there will be a call for a special meeting and change of management or it believes that Rabe & the board's nusance law suit against Mittleman may either be sucessfull or delay things so much that they are better off moving on and looking for a better investment. It would be nice to hear from Mittleman / Frischer etc. who seem to be waiting for something specific before acting or at least signaling their intentions.
As far as cattamaran's go, Rabe's vission of a catamaran is 2 canoes held together with 2 X 4's. With Air Transat as an investment, a catamaran might end up looking like a single canoe with a pontoon strapped on outriger style. I want no part of airlines.