Well it appears that nobody is selling at this time. I would imagine the scare tactics from Clutterbuck has settled in. The Clutterbuck Capital Management has less than 100 million under management. I wonder who the four employees are.....manages 10 accounts. I wonder how much of their 96 million is tied up in CIBH? Bottom line is that this will ultimately come down to the definition of stabilized. I don't think one year of profitability is stabilized. If there was no potential to pay dividends to the preferred shares for two or more years before paying anything to the commons, then why was it written? I am not falling for this boogeyman trick......I the bank didn't have faith in going forward, then why would they add two directors? The threat of a lawsuit always exists. As a substantial holder of the commons as far as an individual person goes, I am comfortable knowing the board has MY interest at stake. If CCM is hellbent on liquidating, then sell the preferred at a discount.......you have proven that there is a market......just get out then. Move on and quit bitching about how you are trapped. It appears that you knew the rules when you took that option. Would you have rather taken a total loss? Maybe Wilson will take your preferred shares off your hands. Worked out well for Amcore.....you should feel lucky to have anything after the 08 prepackage. Just my thoughts. Spend money on a lawsuit.....there appears to be no date or description if what constitutes "stabilized".
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