This is a bunch of bull. When a company tells you it is going to liquidate the value of the assets drops to maybe 10 to 20 cents on a dollar. They have no money to pay there people, bills etc. They cannot continue. RS did a great job in destroying what assets they had when he started. He virtually put this company out of business with just being incompetent. Deals could have been made with WFC, Vendors etc., instead of just #$%$ the money away and fire sailing the inventory right at holiday season. He was not smart enough to use the leverage he had when he had it to help this company survive. This company is done now and no one is going to come in and have a bidding war. Probably the only reason Toshiba is bidding as a total package is that it will be easier for the BK Judge to close this case asap. Don't buy and save your money.
you are crazy. OCZ is over, get it. It's common to buy the assets free and clear out of BK. This way no one can after Toshiba. They get the inventory and assets clean. Shareholders are screwed here anyway as Hercules held a security interest that RS gave him, remember. If you want to throw blame speak to that idiot of a CEO who is clueless and incompetent. I bailed a while ago after listening to RS on a CC. After all he was on the BOD since 2011 so he knew what was going to begin with and he lied or he is plain stupid.
because the new ceo didn't know what he was doing and sold off the inventory below fire sale prices and didn't know how to partner with his suppliers to keep a flow going. He also abandoned his niche market thinking he could enter a new business ( enterprise) within a short period of time. Bottom line is this is what you get when you put an idiot at the helm. He didn't care about the shareholders and now everyone loses. Plenty of businesses have problems and that is why you need a guy in the know as to how to reverse and weather the storm. The shareholders should sue the BOD for letting this happen.
Toshiba is offering to buy all of OCZ's assets in Bankruptcy according to Tech Trader Daily. Trading is suppose resume at 2:30 PM. Hercules has seized Ocz's bank deposits . Holding up the deal may be
RS asking for a retention package for key people. Supposedly being worked on this minute. Maybe they will give this idiot a board seat. If you look at my old posts I warned that this guy was an incompetent and not for the shareholders. He gave away the business, inventory and did everything a business would not do. I lost money on this dog but bailed out over the last year after listening to this fool and his lies. Now the law suit will be a non event as the bankruptcy will protect the company. They should have sued all the BID and CEO personally. If this company was in China they would take RS out and try him and then shoot him. It is very upsetting to see this happen as this company could have partnered and survived if they had an intelligent person running it not a fool.
What a Shame to see a company that could have had a chance, go down the drain because of the stupidity of the BOD and Management. They had cash, Inventory, niche market at lower margins and an enterprise business that was non existent. They thought they would enter the enterprise market but jumped the gun in their exist of the retail market and shot themselves not in the foot but in the head sacrificing and taking a bath on inventory that they sold at below fire sale prices and not holding on to that money to use for a gradual transfer from one end of the business into another end. They completely misread who they were and what they could do over the next year which is typical of people like the CEO who had no dog in the game. The BOD must have been brain dead as there concern is all about not being sued. They turned inventory into money not to rebuild the business but to pay the bank and then took on a new loan and hocked their assets and a loan that has so many covenants there is no way they are going to be able to move forward with. This has been nothing but a liquidation without filing a chpt 7. All of these guys should be sued for not protecting the shareholders money. WHAT A SHAME.
Strong presence in Latin America and Europe. Well run bank and stick with it. If you own enough stock you will make a lot of money in the next 3 years. Re-invest divs as there is no foreign tax.
After all the dust settles about Mreits pricing, the value now is very good. Selling below book and above 15% interest rate after taking a beating this stock is a buy now. The stock is so oversold at this point it is ridiculous as the 10 Year is not going to jump above 3% and all of these Reits have been adjusting their portfolios the past 3 months. I think now is the time to buy this stock, Down almost 6% today based on the rise on the 10 year. Do not believe they will let it rise much more as housing and finance will lead economy going forward. If not we are in big trouble.
Is RS threatening to resign unless he gets a raise. They should give him one as he did a great job for Wells Fargo and all the Vendors. Yes, A great Job. Very knowledgeable guy. No matter what you think RP did business but wasn't an administrator. RS is neither and the BOD should be very happy with there pick. Too bad Icahn was not involved as he would of asked the board and RS all to resign way back when.
Yes Barrons that great and well informed stock paper picked Fushion as their stock of the year and now maybe it's OCZ. Maybe that is why the stock is going down. RS has done a great job and has given shareholders good value. I think he represented the creditors of OCZ instead of the shareholders. I am sure he will move on to his next turn around situation. He's an expect you know. Where was the BOD in all of this.
Bry is better taking the deal as 1- Nice dividend and 2-Price gap will close. Otherwise based on their eps this stock with their existing dividend will sell for under 35 per share. They are better together. Watch and see the price gap close over the next couple days. I do not believe that line will offer more.
The pps gaps are closing and it looks like it is going to happen. It would be better for both companies instead of shopping for new deals. Now that the SEC is out of the way Line should fly like today.
But RS demanded a top job in the executive suite and STX agreed . They gave him a senior title. Senior V.P. of the Mail room. He's now in charge of all mail coming in and making sure that all the envelopes are licked that are going out.. Truth be told that they gave him a cookie and he told him to go away.
Obviously something is up and if your short cover and take your profit. Don't be a pig and get caught up in this. Fio has value for the right company. I bet it is HP.
He gave away the assets, left his niche market. lower margins on new products just did a normal days work for an incompetent manager.
Yes RS cleaned the books and also cleaned out all the capital they had by selling off assets so now they lack cash and inventory to do business with . In addition I think he hocked all the assets to get that shylock loan
and they are stuck and also he abandoned his niche market for the enterprise market of which they have very little business to begin with. Yes this is a very smart CEO wouldn't you agree and for sure someone is going to gobble this company up as it has so much to offer. Maybe for a song and that's it at best.
I don't think the price means anything at this point. OCZ is a broken company and anyone would just buy for Patents and intellectual property and so forth. Why in the would they want to jump into a sick bed. OCZ's lender will control the sale as I think they have a lien on the assets. FIO is having a hard time getting someone to take them over and there suppose to be best in class, so why would they want OCZ. The CEO's of OCZ, FIO STEC are just incompetent managers and have ruined these companies by their stupidity.
FIO has high margins and cannot show a profit at this point. OCZ has virtually no margins and the CEO just sold inventory at basically any price to raise cash and aborted there niche business too fast with no real
alternative that was up and going to keep them afloat. Stec I don't really know as I only had stock in OCZ and lost and am out now and still stuck in FIO which is another disaster. They are in the right space, good products, no leadership and stupidity rules. What a shame.