but the Pac Life Plan can't go through without management's backing because the current BOD still follows Doc's lead and the BOD decides whether or not to allow the Pac Life plan to come up for a vote. If they don't allow it to come up for a vote, then we aren't heard from.
I think there's a good chance that Blackrock will come back with a slighly better plan (still maintaining Doc's liability coverage - that's what this whole thing is about) and the BOD, once again with ML's blessing, will accept the revised Blackrock for a shareholder vote.
Either way, I hope this doesn't delay things much. I honestly think we are running out of time/cash.
Does anybody know of a link to Pacific Life? If so, it might be advantageous to post it here.
Those of us who spend so much time here bitching, and who write to the company or the SEC to complain, might consider the advantages of writing to Pacific. A few hundred emails of encouragement and support might just be well-recieved, and even stiffen their resolve when management tries to poke holes in their proposal.
The market is already voting on the soundness of the Pacific Life proposal, and if any of the presidential candidates had such a mandate they'd be packing for Pennsylvania Avenue. As the market price breaks five we might even see a supply bubble as the shorts and puts begin bailing out in panic.