Hi 56Chevy,
You asked EI for his thoughts (options) regarding dividends (or rather, the lack thereof), and not a single mention of repayment of dividends under the MOU.
My personal 2 cents is that it means that Goldman gets yet another bite at the apple in screwing over the Equity Inn, err, I mean the W2007 Graceful Toxic Wastedump, that Goldman created by concocting a scheme whereby they re-engineered a "reverse Midas," taking Gold (no pun intended), and turning it into a steaming hot pile of crap.
I think the fact that they are paying us a whopping $1.00 over the $25.00 Par Value, means that this is Goldman Sachs' way of eating at a Five Star Restaurant, stealing all the Silverware that they can shove down their pants without cutting off certain male parts, eating the entire meal, licking the plates, stiffing the restaurant owner on the bill, getting 60% of the bill knocked off, and then stiffing the waiter/waitress with a WHOPPING 4% tip!
$26.00 divided by $25.00 par = 4%
I thnk that the MOU's silence re: the dividends, or rather, the lack thereof (except for that $1.00 tip), speaks volumes about how Goldman Sachs makes their money: they steal it out of the mouths of innocent investors, they lie, cheat, steal, and then they pony up an offer for the 40% that they were not able to steal directly. Instead, they had to settle for stealing the ~ $15.00 in unpaid cumulative dividends, without accruing any interest on these unpaid funds, and paying a whopping $1.00 above Par to clear the way for everybody (at Goldman, that is) to make a killing off of the Raping that they put on a BUNCH of former Equity Inns Preferred shareholders.
At least, that's my shortened, polite version of how I am reading the MOU, and its failure to mention/discuss a crapload of dividends that remain unpaid. The silence is deafening.
At least that's how I see things. Would love to be wrong, but, I have a hunch that I'm unfortunately, not too far off the mark.
David from Dallas (aka, the Merchant of Death).
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