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therightbluff

06/08/10 4:26 PM

#21093 RE: G37S #21091

Broker told me today that they probably didn't release the information of the meeting because FINRA had put the dividend as a spin off to the brokerage houses. There was a correction but some of the information was put out incorrectly. He said that in the event of most errors in the market companies will refrain from making big news announcements until the market has corrected itself. He thinks we will either see it tomorrow or the next day. Not that he is all that but he did seem to know a little about it.
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Arbitrage123

06/08/10 4:52 PM

#21096 RE: G37S #21091

I fully agree you don't have to tell the whole investment community everything. And if you do post a report like they did tell what happened as soon a possible it doesn't take long to write up what happened at the meeting.
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mysticjinx

06/08/10 7:37 PM

#21106 RE: G37S #21091

The PRs are annoying.

1. Why announce a PR that can be taken as negative? Why even bother? The implications on the last PR could be either positive or negative - so it was confusing at best.

2. They have the meeting - and then no result.

There is no REASON in this....reason as in "sense." This makes NO SENSE!!!!

A CEO should be doing his fiduciary responsibility to his shareholders to improve the stock price by announcing positive things about the company and doing everything in his power to improve the PPS.

Instead, they have a B.S. PR about something that may lower the stock price.

THEN.....they don't bother telling whether anything happened OR NOT!!!!

It is as if they are trying to tank the PPS on purpose (which only makes sense if they are trying to repurchase stock).

THEN....the CEO buys 5M shares - which is not that much (it is only 0.05% of the company, with a total value at the current PPS of $3,500).

I am not sure if this is smoke and mirrors or what.

I also find it weird that the CEO only owns a total of 5,500,000 shares. I own more than twice what the CEO owns.

It seems that they are trying to get the CEO to some minimum level for something.

Sure wish someone else had some insight on this.