william48 Member Profile william48 Share Tuesday, April 26, 2011 8:34:18 PM
Re: None Post # of 286464
I’ve been looking for hope in darkness.
This gives it to me (and, hopefully, to you, as well … as all of it’s based on human nature, which trumps all the silence we’ve been a victim of during the past 4 months).
Pretend for a moment that you are one of the 3 new additions to the EC, and that you came aboard several day ago. Like all of us, the monetary value of your share position(s) has substantially eroded over the previous year. You’ve lost a ton of money, you're pissed-off, in the dark, and you’ve been sorely perplexed by the strategy of Mike W and his side-kick Ho P, who have been directing SG and have apparently gone along with its wierd ‘stealth’ stragegy. But now, you’ve stepped into the inner sanctum, and you’re hell-bent on finding out exactly what actually is going on --- not so much for ‘other’ SHs, as (secretly) for the fear that you repose for your own holdings (it’s only human nature to feel that way folks; and so it’s quite understandable).
So, once aboard, you wait for that first telephonic conference with Mike and Ho (which has no doubt already taken place). You try to be courteous; you try to be diplomatic, but you REALLY, REALLY want to know, WTF is going on!!! Mike talks. You ask him questions. Lots of questions, as he brings you up to speed. You thank him profusely for his efforts, but you're in no way intimidated by him, as it's YOUR money that you're REALLY interested in (again, human nature). You’ve read the boards. You’re aware of all the suspecions, even the more darker ones. So you ask even more questions. Very, very pointed questions (because it’s really YOUR money at risk in this mess, isn’t it), all of which he must answer to your satisfaction. And you listen to his responses to your questions, knowing that you are 3 (collectively, as new-comers commanding 3 votes), and he controls only 2; so he can be out-voted if you sense that he is lying to you in any way whatsover, or that he has committed himself to a path that you find hopelessly futile and unrealistic.
So what would YOU want to know from Mike W and Ho P during that first tele-conference?:
1. Are we in settlement negotiations with Rosen?
2. Are we in settlement negotiations with the HFs?
3. Has any settlement offer EVER been made?
4. What does PJS assess the value of WMI-2 to be?
5. Are you ready for the confirmation hearing?
6. Are you ready for the IT hearing?
7. WHY the seeming inaction on the part of SG?
8. Will equity win this thing?
To my way of thinking, if we do not see some MAJOR shift in the tactics deployed by SG within the next week or so (i.e., if they continue to engage in the ‘stealth’ strategy), then all that has gone on before will have passed the smell test of the 3 additional members, and Mike W’s efforts, heretofore, will have received the blessing of those new members. If that proves to be the case, then we must assume that what he has done, and is doing, is, at least 'reasonable' to the new-comers, and we can -- for the time being -- feel at ease.
AIMO