RE:RE:Bankruptcy announcement after the close?Touched below $2 today..well below what the stock was at when this effing CEO took the reins. Technicals and trend is down...will be below $1 be end of October.
Some time ago I said we would never see $3 again. Admittedly, the stock popped a bit on false hope that this management team knew what they were doing. Turns out they are just frivilous spenders that ingore their fiduciary responsibilities. More than ever it is clear shareholders will never see $3 again.
The CEO gets paid millions of dollars and does not care about equity holders or the fact that he has increased the insolvancy risk to the highest levels it has seen since the Peanuts acquisition. He will get paid anyway. None of the management has ever put 1 dime of their own money into this company. They get issued stock out of the option pool or the other pools of slush fund shares created by the BOD to provide the illusion of shareholder alignment. Shareholders are going to learn the hard lesson here that Ellenbogan and his management team are overpaid rejects from the media industry that have no idea how to create value!