Timing is everything. If you had bought Meade Instruments on May 5, 2000 when it went for $36.56/share, you'd still be in the hole to this day, with a 90% loss. ________________________________ From: Patrick Wiggins <paw@wirelessbeehive.com> To: Utah Astronomy <utah-astronomy@mailman.xmission.com> Sent: Tuesday, May 21, 2013 7:11 PM Subject: Re: [Utah-astronomy] Meade bought out by Chinese Looking at the history of Meade's stock (go to http://www.google.com/finance?q=NASDAQ:MEADand click on the "5y" link) it looks like anyone who bought Meade stock in 2008 when it was going for 8 cents a share will be very happy with a nearly 4,500% return on investment. I don't think even Siegfried's good friend Robert Vesco offered those kinds of returns. :) patrick On 21 May 2013, at 12:13, jcarman6@q.com wrote:
No law firm in the world would make such an announcement if they didn't smell greenbacks and lots of them. The value of the stock was $6.40 per share but they are selling the company for $3.45 per share? Sounds to me like the board of directors have negotiated golden parachutes and the the stockholders are left holding the bag. Sort of like the wall street bailout of 2008. As soon as the billions poured into the coffers, the CEOs and other management took many millions in bonus money for themselves.
Besides the larger telescopes, Meade has sold a grundle of "trashcos" to the less informed members of the public. For a $100 you get a 60mm "refractor" on a rickety tripod. Perfectly priced for all those parents who want to inspire their children, but not spend too much. I have a Meade refractor in my garage, purchased at DI for $25 (gah, my niece was going to buy it, but checked with me to see if it was a good scope) to be an example of what NOT to buy. Oh, it's not obvious it was manufactured by Meade, their name is in the small print on the back of the box, but it's Meade nonetheless. However, I have seen the Meade name proudly displayed on other boxes of trashcos in Walmart and Costco. Meade has made lots and lots of money and so this sale is very, very suspicious.
Go get him law firm.
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