I'm pissed about the 40%, but it's no surprise, majority voted yes for the new shares so, here we are. We could have gone the way of Circuit City, Lehman Brothers, Linens n Things, Sharper Image, Steve and Barry's -you get my drift? And I've owned shares (and options) since '04...
Hey sworn,
Don't think ergen wanted the whole company he was looking for control and I beleilve he was going to retire the debt. no sour grapes just can't beleive this company had to resort to that. do you realze that for every 1bb in market cap he will get $400,000 of that plus the 15% on the 530mm.
My appoligies I just went back through the articles from last week and Ergen was looking for a controling stake and to restructure the debt he held so at this point Mel took the better deal. hate to think that this company is that bad off but I guess its true.
The company is not "that" bad off, but the economy is. If this deal happened 4 years ago, Mel refinances the entire billion for 6.5% and nothing else attatched. Todays economy makes it a miracle he got this kind of money at all... I think it definately says a lot about the confidence these people have in Mel that he had TWO companies batteling for this thing.
true, owning this stock doesn't have a whole lot to do with proper investment strategy; it's gotta be more like a gewy teenage love kind of thing, that makes no practical sense, and you only do it because you have this sappy doomed root for the underdog mentality, combined with a "someday my ship will come in" view of your life - at least that's the boat i think i'm in - not to mention, at some point, the stock had gone so far below the original price i bought at, that it didnt make sense to sell anymore because the proceeds were chump change in comparison to the original cost; one guy wrote, pre-deal, on this board something like, "If the ship's going down, I'm going with it" or something like that, and my all time favorite comment, pre-Liberty deal - I think it was Hopeful - he'd posted/asked, "You buying, selling or holding," and Demian replied: "I'm puking."I've bought at $4, $5, $6, $7, $6, $5, $4, $3, $2, and in the teens.