InvestorsHub Logo
Followers 27
Posts 5610
Boards Moderated 1
Alias Born 07/31/2000

Re: peep22 post# 4116

Monday, 09/01/2003 9:22:53 AM

Monday, September 01, 2003 9:22:53 AM

Post# of 23718
peep: I think you left the wrong link. However, IMO, what happened with Wolf and LB was simply a matter of laying the cards on the table including all the possibly distasteful scenarios should Elbee not resign as Pres/CEO. Faced with potential lawsuits or maybe even jail-time, Elbee relented and Wolf took over. Some of the first things Wolf needed was the company books. Elbee wouldn't relinquish them, or all of them, at any rate. It was then that Elbee blew smoke up the directors' butts and regained control. At what point Snaper became disenfranchised with the whole thing I cannot really say. I know it was said that he had actually resigned almost a full year prior to the "unpleasantness" but that Elbee refused to recognize the resignation. Again, all of what is said here is IMO, IMO, IMO. It seems to me, though, that if Elbee begrudgingly bailed as Pres based on what might happen to him and then took it away from Wolf rather than give up the books, perhaps he viewed the potential harm from opening the books as more unhealthy to him than that which was awaiting him from Wolf and Snaper???

Mark my words, when the smoke finally clears, there's going to be repercussions at some point in the future that might just delve into some pretty sleazy depths. And who is it that will be hurt the most? You got it -- Joe shareholder. -- I-M-O.