XOMA Corporation (XOMA)

[offshore48]

Wrong. We don't know what he knew when, and if you do you are privy to inside information. Second they have in essence a credit line which is untapped since they have made no public statement to verify any change. You are not willing to accept that Xoma is in a very fluid situation now that Norvartis is involved. That's fine but are you serious in the sense that if you were to say announce the intention to marry your true love one day and then find out a week later that there has been unfaithfulness, in which you would obviously now have to make a change to your original proclamation, and then have people be disappointed in you for making the change? Would you be just as upset if there were a change from their stated objective to be a commercial operation by accepting a buyout offer at 10.00/share? I doubt it. Point is if people don't recognize that conditions on the ground are very fluid at this point in time, then your stuck in the mud. Again, the Norvatis deal changed everything. Study them, understand them, and these petty disappointments will not cloud your thinking. Said another way, the job of management is to manage. Add to the tool chest in order to operate from a position of strength. After Eyeguard B, the vultures were ready to feast. JV emphatically said "Make no mistake, we will rebuild this company", remember? Has he done just a little bit to move in that direction? I would say yes.