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Energy Conversion Devices (ENER) Message Board

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  • post_looks_10a_brass post_looks_10a_brass Jul 30, 2008 4:25 AM Flag

    New CFO for ENER?

    ... it's ususally a bad sign. No one quits without a reason.

    I don't know what it means in this case, but I'll just throw out a couple of questions about ENER's finances that have been nagging me:

    - whatever happened to ENER's auction-rate securities?
    .....they''re probably illiquid. are they also impaired?

    - who on earth lends money to a tech company at 3% ?
    .....where's the catch? from whom do the lenders expect to profit?

    - why did the company facilitate the shorting of its own stock?
    .....did management act AGAINST shareholder interest?

    The answers to some of these questions may or may not have something to do with the CFO's departure. As usual, I can only connect the dots and arrive at my own guess as to what's going on here. But I'm assuming the worst.

    I'm still out btw. Neither long nor short. No shares, no options.

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    • Well, I have my suspicions about your questions:

      >>- who on earth lends money to a tech company at 3% ?
      .....where's the catch? from whom do the lenders expect to profit? << (post looks)

      I think the answers to those Qs are suggested by your next two questions:

      >>- why did the company facilitate the shorting of its own stock? <<

      IMO, because a) that allowed them to get the low interest rate and b) the shorting manipulations will not affect ENER in the longer run.

      >>.....did management act AGAINST shareholder interest?<<

      No -- not actual investors, that is. The lenders, who got to borrow shares from ECD, will be in a good position to rip various short-term, chart-based "players" by way of easy manipulating. Longer-term investors will see more volatility, but they will win more the longer they hold.

    • This CFO was pushed out and replaced with someone that has more experience.It is a big improvement for sure.Morelli wanted his man and not the old fool Stan picked.By the way pushing Stan and Stemple out was the best thing that ever happened to ENER and its shareholders.Yes I undestand what Stan's wife did many years ago,but Stan and Stemple where a real Laurel and Hardy show.

 
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