and I mean no personal slight to "grunka" when I
say this but are you kidding?????That anyone would
even think of hanging around until April for a
dividend!!!!Boys and girls...did you learn NOTHING in December???
I see where NY Coffeeman posted today again..If any
of you have access to a Nashville newspaper there is
an article on the front page of the business section
re: Service Merchandise telling their shareholders
their stock has no value and will not be honored this
comes to no surprise to most..EXCEPT some of the
stockholders who were holding out hope..I predict the same
headline here for PZN in the future..Seems like taking 3
11/16 home per share is better than nothing..but
inevitably some will hang on till it's all gone.Why is that
do you think???????
From the article..
"Ken Renner, a
spokesman for DC Investments Partners, said the termination
of the fund had been coming for several months and
had little to do with any relationship with
Renner noted that Metro also invested in a
strong-performing venture capital fund called FCA Venture Partners
II, which is also managed by the partnership.
McWhorter, with a long background in health care, is a
founder of FCA II, which has earned more than $20 million
for Metro on a $7.5 million investment by investing
in startup and early stage health-care
If I read this correctly, DC cost Metro 800K but
made them 20MM. (Wish we were so lucky).
Glad to see you back.
that is the question. I got out a week or so ago
at about this level, after I read the proxy and my
disgust level rose to the point that it was no longer
With perfect hindsight something like this happening
was pretty predictable. Doc and his minions put
together a deal that screwed the common shareholders
completely, but they forgot one very important point - the
people taking the screwing were the ones that were
needed to approve the deal. Of course, as has probably
been posted already today, there's no guarantee that
the BOD will let it be voted upon, but the failure to
do so IMO would be so blatant as to destroy any
legal defense they might possibly have.
decided what to do yet, but regardless of whether I get
back in or not (after the last 9 months as a
shareholder I can't believe I'm even considering it!), kudos
to Pacific Life for standing up to the Wall Street
Just a word of caution. I did the same thing and
bought lots of PZN at $10 thinking the $2.20 dividend
would make my house payment. I think this thing is
still very high risk until the company proves it can
make it after the cash infusion. Odds are 50-50 at
If the new money is coming directly from
shareholders, why is it dilutive, at all? If all of the
shareholders anted up, the same shareholders would still own
the company, no?
Perhaps the dilution comes
from absorbing the losses in OPCO. Which brings up a
question I have had for a long time: why should we bail
out OPCO and absorb its losses? If that company is
insolvent, why not let Doc and the other shareholders twist
in the wind?
Since OPCO is in default, the
agreements with PZN could probably be rescinded. Why not
take the cash from the Pac Life proposal and start up
a new management branch in PZN, without absorbing
Thanks for caring.
You don't get an 18%
yield without risk. I'll take the loss if the deal
I think the chances of the P/L
closing are at least 90%. But it wont change my life if
the dice turn up wrong.
After the recap
closes, the preferred A will be a very secure piece of
paper and a great long-term hold.
have posted their views that the company will resume
growth of 20-30% per year. In that case the returns on
the common stock would be huge. But that's tougher to
predict at this point. Maybe 50-50 as you say.
is astute, and I hope your investing is also.
I agree with you that REIT status for 1999 doesn't
mean REIT status for 2000.
The companies still
have to merge, in my opinion. Until things get
simplified and publicized, the general market will continue
to treat this stock as poison.