Come on! It has only been 1 month since SEI got a new CEO. AND Press Release Source: Seitel, Inc. Seitel Noteholders Extend Standstill Agreement Until June 2, 2003; Company Continues Discussions Toward Long-Term Debt Restructuring Tuesday December 3, 6:00 pm ET Yes January 24th is the "drop dead" date. Is this the only stock in the toliet today? NO Digital Impact DIGI-17%. As far as framsbane goes, I enjoyed the banter, but think about it: the stock can go up, go down, or stay the same. Only if the stock went down, would anyone, 1. care 2. remember. Fu
It's been in the toilet for some time now and seems like it may get flushed away.
What I'd like to know is the details of the restructuring proposal. Why the secrecy? Clearly, if accepted it will have a significant impact on the stock price but the company has elected to keep the shareholders in the dark.
The 24th is 3 fridays away. Dec 11th was the date they submitted. They have been down this road successfully before. There are no assurances but the probability is very good for a successful agreement. I am just as anxious as anyone, but ? they obviously have not hammered out the details, or the lawyers "are watching their $clock grow. Fu
This is precisely why I decided to dump my SEI today and take advantage of more promising buying oportunities elsewhere. SEI may pull out of this funk, but no news from the company for such a long period given the circumstances is not good...and this coming from a guy that worked for Seitel back in the good ol' days in 90-94. I wish Horace Calvert was still at SEI. I really respected him. But he's not and we've heard nothing from the new leadership, so I'm off to greener pastures.
I hope for the sake of the remaining longs that I'm wrong. Lord knows, it wouldn't be the first time.
Subj: Re: Woe is me By: numbersman61 Date: 01/08/03 04:28 pm
<SNIP>What I'd like to know is the details of the restructuring proposal. Why the secrecy? Clearly, if accepted it will have a significant impact on the stock price but the company has elected to keep the shareholders in the dark.</SNIP>