Rinky, Great post! As you can see from the responses my fear is probably justified. I think lots of people would sell at a low price if they could get out and make money now (at least those who got in at $.20 or so).
Hostile bids are often made when companies prove they do not have a strong management team but have a good business (in our case huge assets) and that is why I'm worried. All respect to some writers, but I do not look at a hostile takeover as a great opportunity, but rather as a horror show that could take us all out of what we have been invested for and deserve!
The best defense is a good offense, so I say be prepared. Remember a few of our leaders had said that Lori would do the right thing in a takeover situation. Do we still feel secure that she will protect the shareholders in that situation now? Do we still feel that all of us will hang in with Lori until she (our trusted leader) tells us that it's the right price and time to agree to an offer! This thinking applies even in a convention sale. So I don't just fear a hostile offer! Bargain sales happen all the time when mangement teams are inexperienced or incompetent or for that matter just plain desperate.
On another note, just how are we going to change our management team when we can't even protect a soldier like Murry?
I guess what we can do is stick together and stay prepared for the right opportunity for change when and if it comes along. I don't know about you guys but I would love to see an experienced CEO lead us forward. Maybe some day if we hang in IMO. JW
