Berkstock3

Wachovia's NovaStar Waivers: D-Day Delay?

The amazing thing about the NFI story is how Herb Greenberg and the boys have hammered on NFI for years holding the company on the cross to die only to watch it survive in the credit crunch of 2007.

How funny is that? Novastar is a 30 million dollar company and the keystone cops cant make NFI just go away.

Why hasn't the New York Stock Exchange delisted NFI some people may wonder? I believe that its because they dont want to bring any attention to this story and let people know how bad the shareholders have been wronged by manipulation under the NYSE watch.

Short term $8 price target
long term $32 a share

Wachovia's NovaStar Waivers: D-Day Delay?

Herb,

why do you care so much about Novastar staying alive. It's about a $40 million market cap company. Big deal right?

My question to you is this. What about the shareholders?

There are people holding NFI shares in retirement accounts that have their shares listed as "other."

Why are they listed like this you may wonder. Because with about a 9 million share float and over 80% of the company float sold short there are not enough shares to go around even in retirement accounts.

This should concern you enough to write about it if you believe in the Main Street shareholder and his/her protection.