Within the last hour I had a phone chat with a fellow shareholder who called Schwab to get further clarification on why they are showing a bid.
The new explanation was that a vendor was 'making an offer' to shareholders to buy their shares at a liquidation price for tax write-off purposes. Allegedly the actual offer was not .0001 per share, but .0001 for the whole position (or something like that).
Regardless of the actual liquidation price, isn't it awfully nice for a vendor to suddenly step forward, after 2 years of revocation, to help shareholders out for tax write-off purposes? Isn't that swell? And here, all this while. we all thought that nobody cared.
But ... why would a vendor -- any vendor -- suddenly have an interest in helping us by buying our non-tradable shares? I mean -- and I check with Joe Botts' posts regularly to be sure -- this is still revoked, so what the heck would a vendor do with them? I mean, what can he do with them to help all mankind? Recycle the paper the stock certificates are printed on?
It is, I admit, nice -- in a feelgood sort of way -- to see that someone wants to show us (or our shares) some love for free. But in this age of justified cynicism, this sort of 'help' just seems a little too good to be true.
Dontcha think?
