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  #1  
Unread June 14th, 2010, 07:43 AM
DoctorDan DoctorDan is offline
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Gold Proxy Card

Have any of you who hold BB stock received the Gold proxy voting card as opposed to the white one? Greg Meyers who is trying to get on the board of directors has his name as a candidate on the gold card, but not on the white one. I've received TWO white cards from BB. I'm holding off voting to see if the gold card arrives. Anyone get one yet?
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  #2  
Unread June 14th, 2010, 08:40 AM
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empbal empbal is offline
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People here are mostly employees. I don't know of anyone that has BBI stock. Your best bet is to ask on the stock message boards on finance.yahoo.com (http://messages.finance.yahoo.com/mb/BBI). The board is very active.
  #3  
Unread June 14th, 2010, 10:15 AM
DoctorDan DoctorDan is offline
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I am an employee with a BB 401K that includes BB stock. Many full-time employees are on the plan. True, the stock is not worth much, but no matter how many shares you have, you get mailed a proxy card that allows you to vote for various things, including who sits on the BB Board of Directors.
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  #4  
Unread June 14th, 2010, 11:42 AM
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empbal empbal is offline
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Ah, forgot about that. I'm not FT so I didn't even think of that.
  #5  
Unread June 14th, 2010, 01:24 PM
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sobedrummer sobedrummer is offline
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Yeah, I made sure I did not have any BB stock when I signed up for my 410(k).
I knew better than that.
  #6  
Unread June 14th, 2010, 02:36 PM
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zooworker zooworker is offline
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Quote:
Originally Posted by DoctorDan View Post
I am an employee with a BB 401K that includes BB stock. Many full-time employees are on the plan. True, the stock is not worth much, but no matter how many shares you have, you get mailed a proxy card that allows you to vote for various things, including who sits on the BB Board of Directors.
I'd vote gold...but I am sorry you own stock and hope your 401k is secure.
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  #7  
Unread June 14th, 2010, 03:53 PM
JustTheFacts JustTheFacts is offline
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Blockbuster Shares Hit Record Low



By : Erik Gruenwedel | Posted: 14 Jun 2010
egruenwedel@questex.com




Blockbuster Inc. shares fell more than 21% June 14 following a June 11 media report that claimed the Dallas-based DVD rental giant was seeking a type of funding typically used during a bankruptcy, among other fiscal options.

Blockbuster, with more than 3,000 stores, remains the only nationwide chain renting and selling DVD and Blu-ray Disc movies and video games. Movie Gallery and Hollywood Video ceased operations last month.

With a shareholder meeting slated for June 24, the company has outlined a strategic plan that puts its profitable stores at the center of a multiplatform distribution channel incorporating renting movies by-mail, Blockbuster Express kiosks, Blockbuster Mobile and Blockbuster On Demand downloads.

The Wall Street Journal reported Blockbuster officials are seeking $150 million in “debtor-in-possession” funding from bondholders. They also are in advanced talks with the same creditors holding more than $900 million in debt — seen by many as the crux to Blockbuster’s inability to turn the corner financially.

Ironically, if Blockbuster has any leverage, it is that $900 million, which could evaporate along with shareholder equity should it declare Chapter 11. As a result, conventional wisdom suggests creditors would be inclined to forgive much of the debt in turn for a greater stake in Blockbuster.

The company also has requested additional funding to go along with an increased ownership stake — the amount of which reportedly remains a stumbling block.

Regardless, Michael Pachter, analyst with Wedbush Morgan Securities in Los Angeles and longtime Blockbuster observer, said that with pre-tax earnings falling below its interest payments, pulling the trigger on complete fiscal restructuring appears a formality.

“It's really just a question of when the creditors force a bankruptcy,” Pachter said, adding he believes that will happen before the end of the year.

Blockbuster shares closed at a record low 21 cents per share.
  #8  
Unread June 14th, 2010, 04:35 PM
KAWLIGA KAWLIGA is offline
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Quote:
Originally Posted by empbal View Post
People here are mostly employees. I don't know of anyone that has BBI stock.
hahahaha...and what does that tell you?
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