going nowhere fast, page-57

I would not go that far as to say they have screwed us. They have given us more than enough information to ?decipher? it?s true value. They don?t seem to be able to prepare an offer document in a clear and concise manner. WDC's value is still there (apart from say 10c/share worth of fees, don't quote me on this figure). It's just that if you have not been following the exchange rates vs share price you would not know the true value at the time of the revenue raising / de merger. I am not an accountant so I am not sure if this is deception or standard practice to use figures that are at the end of the financial year even though the stock's reporting period ends at the end of the calendar year and are now 4 months old.
Before the merger I thought that it would be good if you could just invest in the US market as one day the AUD will be back at $0.70 again. The new WDC will be highly leveraged to the USD and a good buy once the true share price at the current exchange rate is established.
It seems to me that WDC change the structure of their business often. Changing their reporting time (calendar/financial), merging / de merging, what figures to use / omit for quarterly reports etc. I could see from the share price that the value of the business has been falling and this shows up because they have been paying out 100% of the profits. With them holding back 30% of the profits the share price should hide this (if this devaluing continues). When I first came across this stock I found it hard to work out why it's share price was going down so fast and where it's true value is today. I am not ready to go as far as to accuse them of something more sinister but I am keeping an eye on the tricks they may be using. Remember that they are shareholders too and what they do affects them. But it?s not like they can start selling their shares without the price plummeting so who know what they are up to.
The de merger may be a good thing for WDC in the long term but in the short term it?s just hiding the true value of the share. People will just put the drop in share price from $12.95 to $8.23 down to the de merger and not the management. Time will tell.
Disclaimer: There are plenty of long term positive things to say about WDC but at the moment I am concentrating on the short term.

I am still working out if WRT is where the value is being transfered to and if it is worth buying.