This Board managed to take a company with about a $1 billion market capitalization of equity and another $500 million of debt---count it---total capitalization of $1.5 billion in 2001 and through a series of management blunders and Board mistakes, turn it into a company that gets sold for $380 million. So a job well done by this great Board--can you spell $1 billion of lost shareholder value in 10 years time. They should all return their directors fees for this dismal performance. Poster child for the most overactive and ineffective public company Board ever. Last post ever on this dog.
I think you mean 2000 not 2001 but it was a different company then, very thinly traded 30k per day and almost 50% owned by a British company so market cap was not as clear. A better measure is 2007, with 1 billion in equity and 300 million in debt when not lightly traded....but your point is valid all the same.
Agreed! Thank gawd I bought at $6 ish and made a couple bucks on my 2,000 shares. There were many times I thought I would never get back to break even. I actually interviewed at SEH way back when. Didn't get the job, pretty glad now.