All this talk is a waste of time. What you should be doing is figuring out who the large group of holders are that wouldn't sell a share on the news the company had no operating assets. You should spend your time figuring out what they know that gave them the confidence to hold their shares on that news.
You do know that the news was just about the worst news possible for the shares, don't you? You should be able to figure out from the court filing shareholders made that there were only 29 million shares held by people willing to spend a hundred bucks to get information from the debtor. It's also likely that some of them sold out, like you did, and others that announced it here, like Joel. So you have to ask yourself who the guys are that held about 180 million shares and never thought they needed to go to court despite the fact they never sold a share.
Think about this Romo, the answer could lead to wealth for you.
After that little event, there was a lot of buying volume till a few days after the shares opened following the halt. In addition there was another small run of buying. You need to ask what the buyers know, because they don’t need to ask questions on this message board, nor have they ever contacted me. Where do they get the information from that makes them hold their shares?
Is Icahn just plain stupid, or does he have a plan? Right now he looks like Keyes duped him. So if he’s not really dumb he has a plan, and I say it involves the shares.
Billy first of all... I appreciate that you are keeping it clean, so I feel obliged to offer the same courtesy.
Now for this statement "You do know that the news was just about the worst news possible for the shares, don't you? ".
Billy, What I read and comprehend is precisely why I choose not to hold these shares. As for Icahn, I don't think he is as crafty as give him credit. Is he smart? Sure but he is not always right. I see that he has a quite diverse set of interests... I suppose any good investor does. However as you know even the smart money loses. So while I appreciate your conquest, I am unfortunately not in a position to allow myself to divert decent investments in lieu of this carney game set up by one Greg Maggipinto.
If you ever win, I will send you a very nice bottle of brandy... Just to bury the hatchet as they say.
"As for Icahn, I don't think he is as crafty as give him credit. Is he smart? Sure but he is not always right."
He doesn't look smart to have signed up for a Stalking Horse Bid of 290 million when BB was to be holding 68 million cash. he looks downright stupid to have stopped biding when he did even if he was not going to be the winner. Anyone can see he would have done better to have run the bid to at least the value of the brand plus the inventory and the foreign subs.
Now if the sale included just a license for the use of the brand for which Charlie would be paying fees to the trust, Icahn and Keyes, Cooley LLP, FTI Consulting, and the studios don't look so stupid. charlie wouldn't look irrational for hiring Keyes and it wold explaining Scotty never selling his notes.
So us shareholders that continue to hold are very right to assume there is a lot more to this deal than what we are told.
And this brings me back to my original post, and why you should be investigating that big block of shares that never sold on June 1st 2011, and where the holders of that 180 million shares get their confidence from. What is their source of news, that's what you need to figure out. It could be worth a lot of money to you. These holders don't post on this board and they have never talked to me of Greg. Like the UCC, Icahn, the studios and Scotty, they seem happy with the situation.