maninnepa, I would tend to agree with you if it is for the acquisition of a profitable and growing business combined with a decent purchase price. In the case of paying of debt I disagree. This is a rm and there should be no legacy debt to be paid off. TS could have easily found a shell with no debt. Instead he takes over a company from his buddy Kevin K. and assumes a pile of debt while at the same time basically "gifting" himself 80% (in form of floorless convertibles) of the company. Than he acquires Wisebuys, a loosing store chain that again he himself owns a majority of. Again, the common shareholder gets zilsh while the Wisebuy owners get floorless preferred C shares worth $7M while that chain barely makes 10 M in revenue.
I don't even want to venture and guess what the Hacketts deal will look like, but be assured that it will follow the established pattern of ripping off the common shareholders.
JMO
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