Re: Blockbuster April 8,2011
As Shareholders we believed in Blockbuster Video as a Family Brand and new American Tradition. The tradition of gathering the family, loading in the SUV and arriving at Blockbuster to select our favorite Movies and Snacks. Most of us are customers who saw great potential in a great company. As Shareholders the decline of Blockbuster hurt our hearts and investments, however most of us have stayed loyal. It’s been difficult to watch the bad press surrounding this brand during the fall from the VOD giant to an auction block.
As for the auction majority of us feel like this was unjust. As very important information was not provided and we also had no say in who would ultimately on our company, it appear completely scripted. Backroom deals outside of court in the wee hours of the night in closed private quarters were not honest. Also in the last 3-4 months the media and powers that be have manipulated this stock and robbed the shareholders. Even with all that we are still here and even though we are now facing a” wipeout of stock" still loyal. Well we have one big question "Where is Your Loyalty"?
A word of advice to Blockbuster and Dish. Remember that it's the little people that built this company one brick at a time with our dollars as customers and shareholders. We worked hard for you, as did your employees. Blockbuster & Icahn had the money to do the right thing and didn't! Now it's on you Dish you have inherited the Good, Bad and the Ugly of this company, they cannot be separated. Do the right thing. Which doesn't mean throw us a bone with "pennies on the dollar” We are owners and most of us want to continue to own and hold our shares or be bought out at a good rate. I’m sure you know what that number should be.
As for Dish Shareholder this is a great opportunity to evaluate the company you have invested in? How will you be treated? Will you end up like us begging for fairness?
Your CEO has invited a Wolf (Icahn) into your backyard. Who is a known takeover artist? He's not use to sharing. With his power in Motorola and Blockbuster he's dangerous for Dish. If he acquires all three he will dominate the market. I urge you to make some real noise about this so-called Merger/Buyout and watch it carefully or you may regret it.
Bottom line if we get treated unfairly in this, it’s an indication of where you guys are headed.
In closing if you chose to ignore Blockbuster Shareholders, 10 million plus, we will not continue supporting Blockbuster or Dish as Shareholders or Customers.
All the best
You invested in a company that was mismanaged and instead of realizing this you probably averaged in on the way down. That's your fault as an investor. Dish did not do a buyout of Blockbuster, they acquired the BRAND through the bankruptcy court. You cannot blame Dish for not getting anything for your shares, blame the management of Blockbuster for mismanaging the company and blame yourself for not having the foresight that this company would go under. The very same foresight that now would make me run from any NFLX shares.
Even the bondholders are not winners in this auction as they too were too stupid and invested in the previous Blockbuster management.
"In closing if you chose to ignore Blockbuster Shareholders, 10 million plus, we will not continue supporting Blockbuster or Dish as Shareholders or Customers. "
And why should they care about you? Should they overpay for an bankruptcy acquisition just because some dude in America didn't see the writing on the wall and lost money in a non-sense investment? What next, you write the SEC to complain? LOL...
That was easy WT, Hey I use to hold Blockbuster (and rented from them)and then I averaged way down and when I had the chance I made roughly $10 on years of work. I also own Dish (and I have dish) so that letter makes no sense to me whats so ever. I think it's call investing which has a risk.
WOW. What planet do you reside? Little people, family values, peanuts & popcorn??? You best get out and stay out of the market. Put you money in savings bonds. The market is for those who want to make money and only money. No one cares who built the company, just the returns on investment, and when it goes away you take the money elsewhere. I'm in for the CASH and believe DISH will be bought for its spectrum. I have DIRECTV and love it, but love CASH too! Want peanuts & popcorn? Stay home and watch a baseball game!
I too was a Blockbuster shareholder at one time, but i didnt wait until the stock was 4 cents to get out....Take your loss and move on, diversify and buy some good stocks, ones that cater to this decade....stop sounding like a Bloaq'n record move on....Good luck all Dish shareholders