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UPS going private again.....
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<blockquote data-quote="Dfigtree" data-source="post: 175255" data-attributes="member: 5050"><p>Thank you, Channahon. I appreciate the information. And, I really liked the following Kelly-ism.</p><p></p><p>"<strong>It really hasn't been about the money. It's been about positioning our company for the future and giving us the currency for acquisitions,"</strong></p><p><strong></strong></p><p>So ... It's not about the money. It's about the currency. I have a thousand dollars in my savings account. That's money! And, it's in US dollars. That's currency! </p><p></p><p>The strange thing about Kelly's statement is that UPS already <em>was</em> a currency before UPS went public. Didn't most of us own a few shares of UPS stock before Nov. 1999? </p><p></p><p>And, there seems to be some kind of equivalence here ,too, in that UPS could acquire a company for two pre-public offering shares (say, at $25) or 1 post-public offering share (say, initially set at $50). Same thing, <strong>except</strong> that the acquired company's shareholders have a say in UPS doings. So, 1) "A" shareholders (UPSers, UPS foundations and retirees) have 10 time the voting power of B shares (outsiders), 2) pre-IPO shareholders get a doubling of the value of their shares, 3) the value of the company remains the same and 4) UPS has a huge meaningless market capitalization.</p><p></p><p>Money vs. currency.</p></blockquote><p></p>
[QUOTE="Dfigtree, post: 175255, member: 5050"] Thank you, Channahon. I appreciate the information. And, I really liked the following Kelly-ism. "[B]It really hasn't been about the money. It's been about positioning our company for the future and giving us the currency for acquisitions," [/B] So ... It's not about the money. It's about the currency. I have a thousand dollars in my savings account. That's money! And, it's in US dollars. That's currency! The strange thing about Kelly's statement is that UPS already [I]was[/I] a currency before UPS went public. Didn't most of us own a few shares of UPS stock before Nov. 1999? And, there seems to be some kind of equivalence here ,too, in that UPS could acquire a company for two pre-public offering shares (say, at $25) or 1 post-public offering share (say, initially set at $50). Same thing, [B]except[/B] that the acquired company's shareholders have a say in UPS doings. So, 1) "A" shareholders (UPSers, UPS foundations and retirees) have 10 time the voting power of B shares (outsiders), 2) pre-IPO shareholders get a doubling of the value of their shares, 3) the value of the company remains the same and 4) UPS has a huge meaningless market capitalization. Money vs. currency. [/QUOTE]
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