dak this has nothing to do with that. Pearl would have gotten never ending support. Let me put it this way if Pearl would have wanted to raise money this should have waited for the buyback completion. I think most shareholders would have rather sent a hundred dollars a piece if they would have been given a choice, and kept our share count lower. There were all kinds of ways to have approached this.
Give you and example: I am a company owner and I have to raise money to keep the company going forward and I have 500 employees. All have paydays coming after 2 weeks but if I didn't have to pay them I would have what I needed, what course of action do I take after I told them I have the money to meet payroll and they would get it?
This money will see me thru for the next 6 months hypothetically. If I could only get thru now I could still meet payroll every two weeks for 6 months. Its a dilemma but what do I do?
This may not be the best illustration but I think you see my point. No Ceo should ever deceive or misrepresent their course of action to their employees. Lose the trust and lose the employees.
Did this action hurt them, the investors, the company and the stock?. Its been in this trading range forever how long? In addition to this the company had no way of knowing how much people were investing or how much they could lose from this course of action.
How many times did I or King post that there would be no dilution during or after the buyback. The fact, it was occurring and not in some small way. I personally talked with the TA and even he told me it would somewhere around 3 to 3.5bn max. I was puzzled by even this. When it finally concluded I was floored by what I read.
Everybody would want Pearl and company to get rich if they did all they said and saw price appreciation. Why shouldn't they?. I wouldn't think otherwise, and glad for them, at least her and everyone employed by her to prosper.
This was meant to a long term investment not a trade for many of us. Look how eradicate it became, the panic sell off was inevitable. There was just to much downside pressure put on the stock. I for one was stumped and I thought initially it was a false start. When the buyback became complete and everyone was convinced we had 2.7bn even 3bn earnest buying would kick in. I and no one else would have figured this in.
For Pearl and company to get angry with her long time supporters for being disappointed with the results takes this even a step farther. If she gets angry now, and Gary and the TA break off communication what can be expected in the future when it happens again?. I am convinced more is on the way. Will I be proven right?
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