The Jailhouse

[HhH]

The reason is...

insiders know the stock is headed lower. Period. You all are about to be diluted into oblivion. Or Chapter 11-ed into it. Does the management cabal that supposedly runs this company care? Hardly. They can always re-price stock options later. Which, John, they will not hesitate for an instant to do.

If you don't know by now that the folks in Lee don't give a rat's ass about the so-called investors, you are hopelessly naive.

P.S. Snackman will argue there is no debt on the balance sheet, so no creditors to worry about. This, obviously, is another reflection of his monumental naivete. There are trade creditors galore. In a chapter filing there will be a class of creditors made up of employees (who are owed accrued vacation pay, for example). All it takes is a single class of creditors to approve a plan. If there is anything worth salvaging (and that is a very big if), the management cabal will form this class and will--quite legally--combine with other creditor classes to snatch anything of value. You will scream the loudest.