For example as I posted before, Cordillia Scaife May(a Mellon) reportedly owned before the deal got blown, about $500,000 dollars worth of FreeMarkets stock that she acquired for .48 cents or less. With the ipo the value of her stock went to an estimated 600-700 million dollars. I very seriously doubt that Cordillia will do hard time in a federal country club.:o) Even though her money and even more importantly her influence was behind the deal.
A class action suit has already been filed on behalf of the suckers who got taken for the estimated 190 million or so dollars. If this thing had gone on for awhile longer it's hard to estimate the number of new suckers who would have been sucked in.
One of the big players in this mess has not had his name come out up to this time--as far as I know--it will be interesting to see who else is involved in this scam!
Tom Lehman
Jordan Hayes wrote:
> > A 10.7 billion dollar fiction!
>
> I don't think you understand what you're saying.
>
> FMKT has only 11% of their shares outstanding in circulation; thus
> 89% of their "market capitalization" is unlikely to ever materialize.
> USX's $2.73B market cap is represented by 86% of its shares being in
> circulation. The "real" market cap of FMKT is less than $0.9B ...
>
> Sure, it's high, but you're off by at least a factor of 10. And
> you're wrong to compare it to USX in that way.
>
> My grandmother once told me that you shouldn't compare apples and
> oranges unless you deliberately want to prove redness or smoothness.
>
> /jordan