re: packer in ecorp clean-up, accept the bid Do the guys who are...

re: packer in ecorp clean-up, accept the bid Do the guys who are suggesting that people reject the bid know how to read a balance sheet? The nta of ecp is about 18c. ECP doesn't expect to make a profit until at least 2004 (and they have been pushing their forecast profit date back for the last couple of years) so why wouldn't you accept the bid unless you are being stubborn and hoping to get somewhere near what you paid for them if you bought in the dot con days?

There is some doubt as to whether ecp's businesses will be able to make a profit in 2004 as the business cycle turns down. Packer wants to delist ecp so he can hide the embarassment that ecp is for him and James, and as such he is offering a generous payout.

At 55c ecp is capped at about $387 million, can you guys see it making over $32 million in profit anytime soon so as to put it on a p/e of 12? I don't think so.

Accept the bid and put the bad investment that you made in ecp behind you and move onto something else.