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Acu: Yeah, that's question isn't it?
After I wrote that post I realized that WSGI has been "surviving" practically forever. I don't really believe they will BK it. It's been too good to them. $$$
It's a shame as I believe in the stratospheric model. Besides communications, what a great high-altitude research platform!
SOMEONE will do it. I no longer believe it will be these clowns.
Yep. And that's right in line with a deleted post from the TA board!
Instead it will be shut down by it's own negligence and incompetence.
If the SEC even cared... Huff's $600M scam was worth a look but this chickenfeed BS?? Nah!
I would say that's the exception rather than the rule...
I think they got the only asset they have out of reach of the coming BK.
shark: Since when is ANY opinion here "solicited"?
Shoulda, coulda, woulda...
I wish I da bailed earlier,too!
Jet:
Two local guys had a business fabricating heavy equipment. Business had been ho-hum. One of the partners suddenly offered to buy out the other partner. Since the business wasn't the gold mine that 2nd partner expected, he sold to the 1st. Unbeknownst to #2, #1 had secured a significant gov't contract. #1 went on to make a fortune and eventually sell-out for over $100M. #2 had no recourse: #1 had made an offer to buy and #2 accepted it.
So...did our mgnt sell-out knowing something good was coming down the road and, lo and behold, guess who doesn't own it now? Us!
I imagine some of "resigned" people will show up later in the new organization. Maybe not, but it wouldn't surprise me.
Pagan: Why so? I know the US is out of the manned rocket business but why won't we need the CIS "personnel" carriers?
I wasn't here for the 1st decade, but I've been here for the 2nd and you're right.
This reminds me of a foreclosed-on homeowner selling EVERYTHING, even the appliances and plumbing, before getting kicked out.
Wanna bet after Glenn sells or transfers anything WSGI has that might remotely be of value, WSGI dissolves and, lo and behold, some private entity, read: DAC, pops up owning (and succeeding) with "our" tech.
JMO
You'll never meet. IMO
I'm surprised it didn't go lower...!
I'll be like mide, when I sell I'll just disappear...
The loss of the BiB is no big deal to me. I always felt it was a stop-gap surveillance gizmo, anyway. Yes, it would give a unit a large-area view of what was around it as well as a communications "multiplier" as in getting an antenna up in the air. But you can be sure, that as drones' power sources, and so, their loiter times improve, BiBs would become archaic; same as WWI observation balloons gave way to the airplane. Plus, BiBs give away one's position, drones don't. BiBs might be good in an urban environment but they are practically giving away drones now and loiter times aren't all that important in town. I could see the cops putting up BiBs everywhere to keep an eye on all of us!
Having said that, I just don't see anything these guys have left to sell. They can't seem to get anyone to back an R&D effort to create a saleable product.
I think they gave away what was left of the farm and all that's left is the complete failure of WSGI. If so, let's hope it's soon so we can all lick our wounds and move on to more profitable enterprises...
I still believe in Huff's "vision". The Stratellite WILL happen. Just not by the "Stratellte company."
I guess we now know why it went so low yeaterday...
This is all just more lipstick on the pig....
BBB: Based on the Letter to Shareholders I believe there won't be a WSGI contract anytime soon... IMO
Maybe one to the NEW owners of the BiB.
The final dive? How long before the BK announcement?
BBB: Re: reporting.
When we were on AMEX (GTE) we were (supposed to be) reporting. My understanding was that, when we left AMEX, if we had EVER had to report we STILL had to report.
Anyone? Does the name and symbol change affect that?
Hmmm...
MOBILE, Ala. (AP) — Alabama's state port in Mobile is purchasing a coal terminal and nearby land in a deal worth $25 million.
The Birmingham-based Walter Energy Inc. says it has reached an agreement with the Alabama State Port Authority to sell the Blue Creek Terminal and more than 60 acres of land.
Docks director Jimmy Lyons says the deal will help the port of Mobile expand its container shipping business.
The state also is agreeing to make improvements at its McDuffie Coal Terminal to make sure Walter Energy can export coal that will be produced when its Blue Creek Mine is completed in Tuscaloosa County.
The state port at Mobile handles more than 25 million tons of cargo each year.
So you're not an investor, you're a flipper? That explains it!
"$400M blanket PO"??? Wha...!?
Bear: It was 15:1 in May of 2005!
be: Were YOU here when this was $1.00+ per share? Before the 15:1 RS? I was.
Were YOU here when Huff rang the bell at AMEX? I was.
Were YOU here for the "whale" Stratellite in Palmdale? I was.
Were YOU here for the Russian deal? I was.
Wrer YOU here for Huff's sentencing? I was.
So don't YOU presume to tell me a d@mned thing about this company!
If he is, indeed, who he says he is I offer my sincerest apologies. If not, he's no better than the bashers who, though often decried here, have a better track record than the Kool-Aid kids do.
I'm starting to believe Indy was a shill. An extremely polite and well-spoken shill, but a shill nonetheless.
les: Exactly!
"but at least now it is being run by a management team that are not scam artists."
The jury's still out on that one....
And even if they are not "scam artists", it would seem they are, at least, incompetent and uncaring.
Acu: A long time ago, I don't remember which message board, someone put forth the idea that that message board's members propose one of their members to the WSGI board. But the unity wasn't there...
I don't believe this board's members control enough shares or have enough unity of purpose to make a difference.
"We must hang together, gentlemen...else, we shall most assuredly hang separately."- Benjamin Franklin
fly: Shareholders have been indicating their opinion for years, to what end? Management does as it pleases!
What do you think these people do all day? Think if you were an officer of WSGI, what would you be doing for WSGI all day? From 8 to 5? Phoning? Knocking on doors? Schmoozing? Doing SOMETHING to move WSGI forward? Every day Monday through Friday? Wouldn't you haved hoped that in all these years you would've accomplished something?
As a corporate officer, would you feel you were a success with the current situation? Remember you helped "manage" us into this.
I don't believe management manages. I don't believe they do anything. I certainly don't believe they care.
IMO
They don't matter, whether you care or not...
Like your, or any shareholder's, vote matters!
Evidently they, management, have milked this cow for all it's worth and this is the slide into eventual oblivion. Mide, who hasn't posted for a long while, was a solid supporter of WSGI in it's various incarnations. He may have seen this coming and gotten out. He always said if he did he would just sell and go away- no fuss, no comment.
Indy, another supporter, seems to have departed too...
I'm just sayin'...
I know something!! This company's management is a do-nothing POS!
Where's Indy Jones when you need him?
Well, if we extrapolate that, eventually they wind up with ALL the shares.
Or maybe they could SELL something!
Anyone who thinks these folks are buying bread and milk or paying for their kids' braces or college educations with their take from WGSI alone...should have their heads examined!
If, after all this time, these boobs can't come up with ONE money maker, maybe we shareholders should have our heads examined!
I'm not a basher, but so far, the bashers are the ones who have right on!
Not if they have other means....
I used to work for a company where the owner also owned four other companies. The particular company I worked for was his least favorite which was obvious on the days he breezed in to do his owner thing. Obvious that he could really not care less about the place. He has other, more profitable interests.
I get the same vibe from WSGI. Everyone here posts these endless acronyms like WSGI management is actively pursuing these opportunities. I think that is belied by the notion that even a blind squirrel finds an acorn occasionally and these managers haven't found a one!
They're content just being "owners" and couldn't care less about WSGI's success or it's shareholders.
IMO.