Circuit City to liquidate V2
mo at ccr.org
Mon Jan 19 13:44:02 CST 2009
there is *no* requirement that a public company
do stupid things for The Street or anyone else.
that's not to say The Street has not been complicit
in the stupidity of the last decade - it has indeed.
i think that's one thing that is changing - a longer
event horizon is going to be required because it is
precisely this kind of very short term behavior that
produces the destructive high-frequency noise in
the system. (insert obscure reference to "neutralizing
a final" - just for ham radio's sake)
note that the "shareholder value" of Circuit City
did not suddenly go to zero - it went down over
a period of 2 years at least. and even if it did
suddenly go to zero, like happens when malfeasance
is exposed and a company is suddenly plunged into
bankruptcy, the management is certainly liable for
their (in)actions during the period when the company
was being hollowed out from the inside. the management
and board of that big FonKompany around here that blowed-up
earlier this decade sure got the crap sued outa them,
and in all but a very few cases, the Board members were
as victimized as everyone else by the massive fraud.
no matter - "You shoulda known."
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