LodgeNet Interactive Corp.(fka LNETQ)

[Liam_S]

Anyone got an answer to these questions: how's it possible that management can agree to sell the company without shareholder approval? Even if the company files bankruptcy, wouldn't the bankruptcy court at least require an auction to be held so that the estate can be sure it's getting the maximum value for the assets? Or is it the case that BK can be used as a means to screw shareholders and sell the company cheap? Why did the company not just do a rights issue to recapitalize, thereby giving current shareholders a chance at retaining their investment? Too many questions around this deal, something doesn't smell right.