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Re: amychan post# 28923

Wednesday, 04/06/2011 10:50:51 AM

Wednesday, April 06, 2011 10:50:51 AM

Post# of 34471
That may be correct -- at least they have not scurried away like RINO did.

However, there is no record of their having submitted a plan to become compliant. It is possible that they simply did not have enough time to produce a credible plan and they chose to go down this appeals route as a means of buying time to complete the plan. That is looking at the situation with rose-colored glasses, of course. They could also be buying time to loot the company while appearing to be law-abiding citizens. At this point it is only guesswork.

It is amazing that they hired a first class PR firm and yet have said absolutely nothing during this episode. The lawyers are surely telling them that if they open their mouths their words may come back to haunt them. But that is not the only consideration at play here. Management has a responsibility to keep shareholders informed, and their silence only leads us to draw the most pessimistic conclusions.
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