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Hanover Direct, Inc. (HNV) Message Board

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  • ggggg51 ggggg51 Jan 6, 2004 2:03 PM Flag

    Valuation

    This is only a general comment and intended to be food for thought. The Chelsey's of the world are only out for themselves, couldn't care less about the common shareholder. Moves that end up in law suits are their cost of doing business. You know they will score, and you know it will be at the shareholders expense. One way or another we will get screwed. It all depends how slick they are and how many crumbs they want to leave. That being said, we could still get .40 or even a buck, but rest assured, they will make the difference that should have trickled down to us. I feel strongly that Schull and his group would have benefitted as well, but we would have gotten more. The wild card is still Basil, who supposedly as a common holder is in the same boat as we are. My concern is that there are too many games the hedge fund folks can play. We will make money from here, it just will be much less than we could have made. It's a shame.

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    • Amen + 1, " All market makers are corrupted by their sense of power & prove it on a regular basis.

    • I think The potential for large scale shenanigans is remote due to Basil and outide directors--Also these guys are shareholders--Out side directors have a lot more influence today--And if you read the agreement there are a number of Corporate Governance stipulations regarding board approvals of sales and firings--I think the company will play it pretty straight--The SEC has already been involved with Chelsey.The assets will be sold --the debt reduced or eliminated and the company will then have to outline the future and why so. Company Store cannot be sold until May according to the agreemnt--unless one outside HNV director votes with Chelsey. I suspect that the uncertainty is keeping the stock down and this is not wholsale selling I suspect it is a group of people who bought at $.20 and want out but not at a loss.

 

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