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  • ceoeagle ceoeagle Jun 7, 2012 8:12 PM Flag

    Michigan Commerce Internal Merger

    Reed created a monster with a nationwide bank holding company owning many banks. Unwinding what turned out to be a disaster is mind boggling.

    The effort to salvage some value is commendable.

    The attorneys by the way must be making a fortune.

    I am long both common an Trup for many years. In the hole about $ 50 k so I remain hopeful.

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    • I agree with the comments here. This news is great. From my perspective perhaps the greatest benefit is that it shows management is willing to keep fighting to keep the bank alive. As a layer myself, I would agree, yes the lawyers must be making a fortune off of CBCR. But, the tax laws have huge loop holes and by CBCR taking advantage of them, it only helps shareholders in the long run. I also believe that this move will help avoid the FDIC showing up some Friday afternoon to close down a subsidiary.

      Lack of buyig interst here may seem troubling, but,. think about the otherside = no sellers either. That measn the shareholders that are left are not weak hands and are not willing to just get rid of the stock at all costs. This sets this thing up for a potentially HUGE run, as most of the holders also are willing to hold. With even minimal buying interest this thing could fly quick. In fact, I am surprised the pumpers haven't run with the news that is out and run it up already!

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