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Hanover Direct, Inc. (HNV) Message Board

  • kfkaus kfkaus Jun 22, 2004 2:41 PM Flag

    Shame on Shull

    He, not Chelsey, brought the company to its knees. this financing should have been part of the recap agreement, OR the recap agreement should have remained an agreement in principle to be executed only after the targeted transactions are found and agreed upon. Shull somehow viewed it as a solution when in fact it was merely a precise statement of the problem.

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    • There is a message board for HNV on Rageing bull. Be it not very active...
      http://ragingbull.lycos.com/mboard/boards.cgi?board=AMEX%3AHNV&origsymbols=hnv

      OLd Iron

    • Thanks for all of the input. I want to think through the best option if we are taken down. I hope we still have Basil, the eternal ace in the hole-- or so we hoped.

    • it looks like it is important for Chelsey to say its buyout offer comes at 200% premium as opposed to 50%. garten filing yesterday had the potential to reduce Chelsey's premium to 50%, so Chelsey sent out mercenaries to make sure that doesn't happen. either that or news of a resignation is forthcoming. It is just not conceivable that everyone is singing in on the deal. not conceivable. not in this post-enron era.

    • sellers could be chelsey's men

    • Besides the Yahoo Group that was previously mentioned just in case there is an AMEX delisting, there are various other possibilites. For example, I believe ragingbull.com has message boards for even pink sheets stocks. Despite its recent tribulations, HNV has a zillion times more going for it than some of those stocks do!

      I would suggest that some of the main posters on this HNV board agree on which one you are going to use. It's a bit of a hassle, but maybe also start duplicating some of you main comments on there now. Or maybe even move there now. The important thing is to do something now to always have critical mass in one place, and that obviously means a definite place to move the critical mass to if necessary.

      Perhaps there is also a way to notify any interested party of the new board if the Yahoo board is discontinued for any reason --- sorta like a forwarding address. I've read a lot of info re low-priced stocks on many boards, but I don't know some of the more advanced aspects of message boards and the like. It's not super efficient but I suppose someone could just keep a list of Email addresses.

      A long shot is to convince Yahoo to have boards for bulletin board & pink sheets stocks. I assume that's been tried many times.

    • Right now somebody wants out pretty badly--must be time to clear portfolios of this--

    • I strongly suggest creating another way we can stay in touch if this board is taken down. My worst fears seemed to have played out. They found a way to screw us and then to screw more. I too have lawyers to speak to, but believe me when I tell you that any law suits will be settled for a few million here and there. The lawyers win, Chelsey wins and the shareholders make an additional nickle a share. Sarbanes, for all of the good it does, could not cover all of the contingencies available to the teams of hedge fund masterminds. These guys are the best of the best if you are with them, and the most vile of humans if you are not. They will take your grandmothers money, your money and your kids money. Hey guys if you are reading this, make sure you go to church or synagogue, confess, get born again, pay penance and then go do it all over again. You walk with the lowest forms of slim.

      • 2 Replies to ggggg51
      • This is one way to stay in touch http://finance.groups.yahoo.com/group/hanover_direct. There may be some benefits in staying here for now, especially that wait-and-see seems to be the position of everyone in the group including me. One thing we could do, now or at a later point, is to get a sense of our financial strength as a group. Some of us might still come out profitable from this and might be willing to invest 10 or 20% of their profits (100% in my case) to learn about Chelsey's version of fiduciary responsibilities in a tutelary setting. Here phantom may be willing to help in receiving our numbers (since we know his) and posting their tallies for discussion of our capabilities and options. This thought might not seem practical now, but it might once we are all disentangled from the company's stock and financials (as in the case of a buyout).

      • I think the next step by hnv will be to sell or monetize assets to pay of as much of the preferred as this loan definitely makes that easier to do and maintain liquidity--Without the loan only parcels of money would go to take down the preferred--another thought about trying to get the stock up rathar than take private as there is always risk that there could be a catostrophic problem later on but if you have liquidity now and can truly get behind the stock with growth and internet--collect at the end of the year--not have to wait to sell--The risk free way is sell assets reduce preferred--run stock --collect at end of the year 20% of profits--no law suits etc--the other is to try to screw independentshareholders and keep the stock down--which could have happened if they did not contest the delisting.

 

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