I appreciate the post by PC as well and his views make a lot of sense. We purists may not like the rules, but we play by them whether we like it or not. The money boys like the rules the way they are. They have learned to use them to their advantage. No matter what rules you pass, the smater ones will lern to use them to their advantage.
to your mention about the concerned shareholders movement, I thought the ones giving leadership represented the best brains here. In these takeover skirmishes, the ones making the takeover usually succeed over the disenting group. The Noront case with RN was a rare victory of sorts, as I choose to see it. The other side probably see it as a victory for them. After all, they did win control and have plotted the course since. I threw my lot in with them because I believed they knew how to get the job done. I still have no regrets in supporting them. They could not have done a better job representing the minority under extremely difficult circumstances. They did it very professionally as I expected from such a group.
The fact that some found they had to make different choices as time went on does not colour my feelings about them. Each of us has to make the best choice for ourselves. I believe this group was legally bound not to sell or buy, so none would have had an advantage the rest of us had. The rest of us stayed too long as the share price fell in the hopes of a favourable ruling. My hope was for a fairer offer. The .4 was theft in my view and I will not change that feeling. WTG was so thinly traded the price was artificial. How could a fair-minded judge miss it? Well, it takes so much money to get to such a judge ( if one can be found ) that the little guy has an almost impossible task to get that far. Jumping through the legal hoops scuttled our hopes.
We swim in the investing ocean with too many sharks, and all exchanges are much the same. The PR that all our politicians and regulators speak of should not lead us to believe they have the sharks muzzled by the rules they claim are fair to all. None of us will live long enough to see them WALK the TALK.
Our best defense is in knowing this.
