Derek Dizhi Huang

Bear Stearns: Why It's Safe to Bet Against Joe Lewis

BSC just announced their preferred shareholders dividends, in this transition period, BSC management is using up whatever cash they have on hand, so that when the time comes, $2 deal becomes a good deal when BSC has no more cash on hand (WHAT A PLOT!). It will mean only one thing, when BSC structured this deal, they still have ample of cash (to pay for preferred shareholders). I just wonder if it can be considered defrauding the common shareholders. Well the shareholders of BSC will find out from their attorney.