Radio executives are unethical rock scum!
This is incredible. What desperation! Who would invest in people like this?
Leveraged radio is a trainwreck. I said that when ETM was $14 and "longtime" was pushing it like a madman.
I was right.
You're a liar. I was not touting ETM at $14. I was selling it, and had sold 90% of my peak position by that point.
Everything is attractive at the right price, including "leveraged" radio. I personally find EMMS and ROIAK attractive enough to own right now. But those are the only ones (and my position in ROIAK is quite small, relative to my EMMS position).
I recently purchased the common shares because they appeared to represent long-term value. While I am naturally sympathetic to any company strategy that increases the value of common shares, I must confess that management's tactics to completely destroy the legitimate legal rights of preferred holders are no better than tactics that a criminal syndicate might employ to destroy its opposition. Even though they may employ the guy that wrote the Indiana law, if I was a judge with any respect for decency and fair play, I would feel compelled to decide for the preferred shareholders.
The NYT article is fascinating.
I doubt the case will be decided on sentiment. The issues are highly technical and legal issues. Contract law, which plays a large part in the case, is pretty well settled. If the judge determines that a legitimate contract exists, s/he is likely to enforce it.
yes, but you can tell they're sharp since they have the guy who wrote the law representing them. Wish they were just as sharp about operating the company to turn a profit. Even the professor says it's not good. Just think what Maryann and Ginger would say.
It was a fairly acid tongue commentary of Emmis. Personally I agree with Jeff Smulyan that some preferred shareholders are being unrealistic. If they wind up getting only $2 per share they need to remember they could have gotten between $12 and $15.