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Commonwealth REIT (CWH) fell 4.3% last night after a motion to block the company's secondary...

Commonwealth REIT (CWH) fell 4.3% last night after a motion to block the company's secondary offering were denied. The offering of 34.5M shares is expected to close today. (PR)
Comments (4)
  • 4n7sjkl
    , contributor
    Comments (88) | Send Message
     
    This unfortunate and just to show you that there are no laws to protect the small investor from a management which set its mind up to enrich themselves at the expense of the shareholders, who have seen their principal and dividends shrinking, while RMR's fees keep increasing. And where is the SEC who is supposed to protect the small investor? Let us hope time will prove me wrong.
    5 Mar 2013, 07:13 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    I think the SEC is around. They just mostly work for the people who can give them high-paying jobs when they leave the SEC, and the people who have that kind of job to hand out aren't small/retail investors.

     

    So very glad I got out of CWH last year.
    5 Mar 2013, 07:39 AM Reply Like
  • 4n7sjkl
    , contributor
    Comments (88) | Send Message
     
    Makes a lot sense. Anyway, I sold our IRA holdings yesterday before the market closed which, so far, looks like a good move. I'm keeping my holdings in our taxable account and if CWH prevails I will sell it for a loss (let the government cover part of my losses for letting the markets run like the old wild west).
    5 Mar 2013, 10:30 AM Reply Like
  • davidbdc
    , contributor
    Comments (3150) | Send Message
     
    I find it unreal that this is permitted. I'm not sure how a board can allow a share offering at $19 when there is an offer to buy all shares for $27. By my math thats nearly a 50% premium.

     

    Corporate governance is broken. This type of self-dealing is emblematic with what is wrong in our country - a few folks find a way to use the system to take from others - as opposed to actually working hard to create and build wealth.
    5 Mar 2013, 03:25 PM Reply Like
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