My apologies, When I wrote the post I was thinking about 2 occasions where the commons were canceled and management lined there pockets in reorg. and I/We got nothing. It happens. That is not necessarily the case in all situations and maybe this one. Some of the articles I was reading over the weekend while maybe criticizing the bonuses also stated that the continuity of management might be a good thing!
Ackman and Lebow own a lot of stock and just might not be willing to lose there investments. The price action Friday seems like it is leaning that way. We will see. MD
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