More info: Just why Allen chose to sell what are essentially worthless shares - and who would buy them - is a mystery. Charter referred all comment to Vulcan Inc., the holding company for Allen's private investments. Vulcan spokesman David Postman said in an e-mail message that the company does not comment on these issues and "will let the filing speak for itself."
Analysts also appeared puzzled by the transaction. "Perhaps [he] sold to someone who is looking for a little tax shelter?" guessed Miller Tabak media analyst David Joyce, who used to follow the stock when it traded on NASDAQ. "I really don't know." The sale doesn't seem to affect Allen's position in Charter once it emerges from bankruptcy, expected sometime this summer. Allen, who had previously owned 52% of Charter equity and 91% of its voting shares, will end up with a 4% equity stake and 35% of the vote in the new company. On Tue, Jun 23, 2009 at 11:47 AM, Erika L. Rich <[email protected]> wrote: > Let me answer that ... yes! Just looked it up. > > So I guess he might as well a) make the news for the sell. b) get dinner > money out of it at least. :) > > On Tue, Jun 23, 2009 at 11:45 AM, Erika L. Rich <[email protected]>wrote: > >> Are they going bankrupt? >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:298824 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
