Joe Chen runs this like its all his..doesn't care...2 weeks past and no figures on the bidu deal for naomi ? Absolutely
the poor management, poor board, he has taken 800 million from US investors and put it directly into his pockets...buying back shares slowly and cheaply is his plan to take it private for pennies on the dollar...his class B shares tells it all...total control...board is just friends....and over a yr past spending shareholders 59 million on soci finance...who got paid...nothing on the books showing assets, no income, nothing....a friend or relative that also graduated at stanford got more investor money...with the buyback, softbank and Joe control over 85%...wall st knows the scam but does nothing...except leave the stock where it belongs...in the trash pile...how they can put out the sale of naomi and not put figures on it is beyond me! And David Chao...jesss what did he do on the board after 6 years...investing 120 million of DCM's cash...good luck to all suffering longs...I do hope somehow this pays off, however, after 2.7 yrs from the IPO date..at 14.00 ...that is one terrible IPO for investors...but not Joe Chen...his pockets are full
Yea, alot more to say...but Margret left the IR dept and went to LITB for good reason...she was the only one ever to respond to email requests...Sam long...really ,,,only on a few press releases did his put his name and email address there..I've emailed him at least 12 times in 2 yrs...never, ever a response...they really dont give a hoot about us stock holders...they are taking it over, slowly, and carefully without allowing the stock to move up much...the ADS float has been cut from 52 million , and not sure exactly what's left that they haven't bought back..my guess is less than 18 million shares..which give Chen and Softbank most of the ownership.....they will take it out I do think at some point private...then relist in Hong kong....they did 5 investor conf there without telling anyone..no press release..nothing...ridiculous fraduciary actions...should be sued from US stockholders ...amazing to me that softbank is giving Chen so much rope after investing 400 million 5 yrs ago?