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Methode Electronics (METHA) Message Board

  • kis309 kis309 Feb 14, 2001 4:24 PM Flag

    Just spoke to METHA IR..they said that

    the IRS had asked for additional warranties and paperwork due to McGinleys death and that they had(METHA) just sent the "ball" back to the IRS. So its pretty much a waiting game now for the IRS....they said that they are pressuring the IRS to move as quickly as possible to meet METHA deadlines that are set and that an announcement this week is highly we are pretty much stuck for a little while longer...but the announcement will come soon....not in June as some have tried to imply on this board

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    • Given that the ruling was not issued in six months, (i.e., the IRS six month goal date expired) I would not expect quick results, the next IRS goal date is one year from the time the ruling was submitted.

      I will continue to hold my METHA, but I goofed on this one. I thought there was no way someone could foul up something so simple as a ruling request on a spin off, it is a slam dunk there is NO POSSIBLE WAY to foul it up, yet they did. I still do not understand how the HELL they f****** this up, there have been THOUSANDS of rulings issued on this precise issue, follow the blueprints, idiots, it's not that hard!

      Now our hopes are pinned on a nameless government worker who already screwed up the 4 and 6 months dates and will feel no particular urgency to get this out now that he screwed up royally and has another six months before he has to get it out.

      Could be 1 month, could be 2 months, could be 5 months before the ruling is issued.

      METHA really needs to fire whatever firm is responsible for this travesty, they took a simple assignment and f***** it all to hell, costing METHA shareholders hundreds of millions in market cap.


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