Apparently you missed an earlier press release in which it was unequivocally stated that the sky is falling & it's all due to humanity's excessive use of pixels.
We all have to convert to film & stop immediately the use of digital cameras. The sky was first noted falling over some polar bears. Kenneth Waller ----- Original Message ----- From: "Tom C" <[EMAIL PROTECTED]> To: <pdml@pdml.net> Sent: Tuesday, April 10, 2007 12:35 PM Subject: Re: Pentax Calls Off Hoya Share-Swap Merger Plan > It has not yet been determined if the sky is falling or not. Further > study > is needed to determine if there is really a sky. If there is a sky, it > may > actually be stationary and items below it are moving up relative to the > sky. > Maybe the sky has already fallen aand we are living in it, unawares of our > placement in relation to it. :-) > > I agree that they appear to have been afraid of getting axed had the > merger > taken place. > > Tom C. - more below... > > TOKYO (Nikkei)--The going appears to be tough in the merger negotiations > between Hoya Corp. (7741) and Pentax Corp. (7750). The current deadlock > began > when Pentax shareholders demanded a review of the proposed stock-swap > ratio, > but on a deeper level "it's all about digital cameras," said a Pentax > executive. > > Hoya CEO Hiroshi Suzuki will convene an extraordinary board meeting on > Tuesday to change its plan for Pentax from a merger to a takeover bid. > > Pentax, meanwhile, will likely oppose Hoya's new proposal because most > of > its directors, including Senior Executive Officer Takashi Watanuki, who > will > take the reins from outgoing President Fumio Urano, are against both a > merger > and tender offer. > > The negotiations were going smoothly until Suzuki said at Hoya's Jan. > 22 > briefing on its financial settlement that "selling off (Pentax shares) > will > be > an option if they don't bring enough return on investment in general > terms." > > Hoya enjoys a high ratio of consolidated operating profit, nearly 30%, > "which cannot be attained with digital cameras. We may not be able to > afford > to continue the operations," said a Pentax director. > > At the April 4 board meeting, a majority of Pentax directors opposed > the > merger with Hoya because the proposal "poses the risk of a 'no' vote by > shareholders" due to concern about the stock-exchange ratio, said one. > Said > another director, "I'm against the merger, as that represents the opinion > of > the employees." > > Pentax began merger negotiations with Hoya in early 2006, under > pressure > from a need to review its digital-camera operations. > > At the time, "There was a trusting relationship" between Suzuki and > Watanuki, said an insider. But negotiations broke down in June, due > mainly > to > a disagreement over the number of directors Pentax wanted to send to the > merged > firm. Urano resumed negotiations with Suzuki and without Watanuki in the > summer, but "didn't get to specifics," said the insider. > > Under pressure from an investment fund "to sell off the poorly > performing > digital-camera operations and concentrate on medical equipment and > devices," > Urano, who wanted to keep digital-camera operations, conceded to Hoya's > proposal that it send in three directors against Pentax's two, a plan that > was > announced on Dec. 21. > > Rapid technological innovation gives digital cameras a short product > cycle, making it difficult to generate stable income over the long term. > That > led Konica Minolta Holdings Inc. (4902) to withdraw from the business last > spring. > > After two consecutive years of losses in imaging systems, mainly > consisting of digital cameras, Pentax drastically cut costs and introduced > three new digital single-lens-reflex models last year. It revised its > fiscal > 2006 shipment plan upward twice, to top 300,000 units, 2.5 times its > volume > for > fiscal 2005. The selloff proposal by the fund and the Hoya remark > implying > a > lack of commitment came as unwelcome surprises. > > Pentax developed the first made-in-Japan 35mm SLR camera in 1952, and > has > a special attachment to camera operations even though medical equipment > brings > it more profit. The founding Matsumoto family, including former president > Tohru Matsumoto, who led the firm for 22 years, still owns 7-8% of the > company. > They will likely vote against a merger or tender offer. > > While it has reduced investment in compact models to pursue quality > over > quantity, the future remains as uncertain for Pentax as the longer-term > growth > prospects of the digital SLR market. > > -- Translated from an article written by Nikkei staff writers Shimao Ojima > and > Soichi Inai. > (The Nikkei Business Daily Tuesday edition) > -0- Apr/10/2007 2:18 GMT > > >>From: Paul Stenquist <[EMAIL PROTECTED]> >>Reply-To: Pentax-Discuss Mail List <pdml@pdml.net> >>To: Pentax-Discuss Mail List <pdml@pdml.net> >>Subject: Re: Pentax Calls Off Hoya Share-Swap Merger Plan >>Date: Tue, 10 Apr 2007 12:25:02 -0400 >> >>Or more correctly, they thought the sky might fall if they went ahead >>with the acquisition plan. >>Paul >>On Apr 10, 2007, at 11:34 AM, Digital Image Studio wrote: >> >> > On 11/04/07, Amita Guha <[EMAIL PROTECTED]> wrote: >> >> What now? >> >> http://tinyurl.com/285gj2 >> > >> > Apparently the sky is falling (well a goodly percentage of Pentax >> > directors thought so anyway)! >> > >> > -- >> > Rob Studdert >> > HURSTVILLE AUSTRALIA >> > Tel +61-2-9554-4110 >> > UTC(GMT) +10 Hours >> > [EMAIL PROTECTED] >> > http://home.swiftdsl.com.au/~distudio//publications/ >> > Pentax user since 1986, PDMLer since 1998 >> > >> > -- >> > PDML Pentax-Discuss Mail List >> > PDML@pdml.net >> > http://pdml.net/mailman/listinfo/pdml_pdml.net >> >> >>-- >>PDML Pentax-Discuss Mail List >>PDML@pdml.net >>http://pdml.net/mailman/listinfo/pdml_pdml.net > > > > -- > PDML Pentax-Discuss Mail List > PDML@pdml.net > http://pdml.net/mailman/listinfo/pdml_pdml.net -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net
