I’m not fully informed as to PPX’s situation so I couldn’t say I’m fully qualified to defend it or its management. And I don’t advocate personal attacks, it was just a suggested alternative to attacking the whole company. If you are implying I made a personal attack on you or anyone by saying it is nasty what paperlinx-sux.com's motives are, it wasn’t an attack it was as observation/opinion.
However, here are some facts which yourself are either ignorant of or choose to purposely ignore. The economic environment in which PPX operates has deteriorated and has continued to be very poor, most of the market in which it operates are either in recession or heading into one - which would obviously affect income - thats life in the paper business. They too have sold off parts of their business (profitable ones too to pay off debt) and sure maybe management could have done a better job at preventing or limiting income slide, however if previous management has done a bad job then current management has the job of trying to rectify what previous management had got the company into. Are they doing a good enough job, I don’t know, I don’t know what exactly they have been left with and what they have to deal with.
From the statement below..
“Why does PaperlinX (PPX) deal in an unethical and opportunistic manner with its hybrid debt provider (PXUPA)? Follow me and join PXUPA Investor Group Supporters (PIGS) to get justice for hybrid holders. Here is one place where your voice and vote really matter.”
I assume you are a hybrid holder. If you are you are then you are not a messenger –A MESSENGER would not have an INTEREST in the message they a delivering.
From what I can understand and it may not be very much but ..What the hybrid holders are saying is that they made a bad investment choice, they paid too much for the hybrids. Now that the company has entered tragic times and its value has fallen they still don’t wish to take any lose. Are these hybrids a risk free investment or something? Why should the ordinary PPX shareholders to cop the loses when the hybrids don’t want any of it.
I’m guessing the hybrid buyers were offered some pretty good returns for that $100 + 2.5% premium. Ever heard of high risk high return. If hybrid holders made a bad investment decision..tough, y’all got suckered in..suck it up and get on with it if you wish take your issues to the courts and have it out there with management or ASIC or whoever hybrid holders wish to blame for their bad investment decision.
If PPX is a bad business it will eventually fail and those who have invested in it will lose money if they are still in at the time it fails, it doesn’t need yours or anyone else help to fail..hastening its failure/or move into private hands will not improve anyone’s chances of get all or most of their money back.
Just my observations - however limited in knowledge/understanding of the situation it may be..
SRS Price at posting:
4.9¢ Sentiment: None Disclosure: Held
