On Your Six
Well-known member
- Joined
- Mar 8, 2004
- Posts
- 4,507
banger said:Heavy Set said:To address your assertion that SONG has not been profitable, Grinstein will be in very big trouble if SONG is/was not profitable when he publicly made that statement. The SEC would be breathing down his neck if he stated one thing and then "misled" investors. Grinstein is smart and he would not do anything to jeopardize Delta or his position - right? Therefore, if he makes public statements like that, I would assume they are "roughly" correct - if not, he could be prosecuted (in the post-Enron business environment).
Heavy Set
Maybe I missed something but I never saw where Grinstein said Song was "profitable" He only says it is "successful" which by definition could mean many things. Song could be losing gobs of $$ yet as a competetive weapon be viewed as very successful by hurting the competition. I know we are playing with words here but thats what they do on Wall Street and the SEC.
Banger,
I've seen the statement made by Grinstein and I think he said it was profitable - it was part of a press release. I haven't seen it lately but I will look for it. Needlesstosay, executives have to be very careful nowadays with any statements because, if they aren't, they can have SEC problems or even get sued by investors for misleading information. I'll look for that press release.
OYS