Thistime: You said:
---"THEN START DOING SOMETHING ABOUT THE SITUATION BEFORE YOU ARE TAKEN OVER NEXT. NN,IMO, should have done the merger months ago,probably the signal was to do it when FWR was taken over. NN seems to have done little of the sort and consequently SPQ was a sitting duck -a real ----."
I'm not defending NN here but he tried twice to do a reverse split, so he could more easily borrow money to prove up the property or have the Company more attractive to attract someone other then Cliffs to bid for us. Many shareholders would not listen. Both times the reverse split was knocked down.
There has been much argument on this board as to which was the best way to go. I don't wish to rehash what might have been. I was for the reverse split. I was also for holding out for a better offer then 0.19 cents per share. I was true to my word. I held. I lost on both counts.
So, people can bash NN all they like. But we only have ourselves to blame. I think he let me down because I was in his camp. Never the less, I will tender to the extended offer. Many of you who tendered to the July 6 offer will soon see the cash in your accounts (possibly 3 - 5 days). I spoke to Georgeson this a.m., and asked how many days if I tendered. I was told possibly 3-5 business days after the offer for the 16th closed. So, I won't get my cash until after the 16th deadline. That means I won't have it to reinvest until then. But then with the market in freefall maybe it is a good thing.
I really do wish ALL the best of luck (even the nasties). Hope I haven't ruffled to many feathers. I've had my share of nasty PM's. But some really great supportive ones too.
Many, on different ROF boards, talk of a concertive effort to organize the retail shareholders. Having been through FWR and SPQ, I think it would be a lost cause. Each one of us has to determine what our risk tolerance is and act accordingly.
Gleegee.
