Viacom - Cbs Debacle (1 Viewer)

[Njja]

Any other investors out there? Viacom (S. Redstone) reciently split off CBS.

He forced his shareholders to give up 1/2 their holdings in Viacom trading at

$38 for CBS shares trading at $25. So for example 1000 Viacom worth $38,000

became 500 Viacom & 500 CBS now worth $31500 an instant $6500 loss.

Viacom shareholders loss nearly 500 Million Dollars! And where you ask did

the $500 million go? right into his pockets as he halfed the stockholder

equity. Oh he also loaded CBS with 7 Billion in debt, an 8 Billion dollar loss for

this year (costs of spin off) all against 1 Billion in cash.

Stockholders were forced to surrender their certificates for advices (a piece

of paper listing your holdings)......ready for this the line is it is easier to

replace if lost. A plane sheet of white paper with some information. Should

you lose it $15 for a new one. Took me nearly 4 months from date my

certificates were received to get this crap. And the headlines are CBS

hires Katie Couric! Where is the SEC? Martha Stewart goes to jail......

Redstone walks away with 1/2 Billion and we are talking about Katie.

We are in big trouble!

Any other investors out there???

Njja

 

[noli-poli]

Well it was SEE BS NEWS then...now SEE BS STOCK!
Learned my lesson from the tech bubble of 2000. I am now in real estate and gold (was below 300/oz. in 2000 and now 650/oz. May go to 2000/oz in a few years). And my rule of thumb is once I hit 40% profit, I sell.

N-P

 

[DMNamiot]

Ive got some invested but it has been a real hastle in the past few years. You may want to get rid of the viacom and find some company that wont stick it to its investors. Best of luck.

Dave

 

[Njja]

I'm already in over 30 other companies, and never intended to be in Viacom.

I originally invested in Westinghouse which became CBS which became

Viacom. This is the first company to cheap too provide you with an actual

stock certificate.

Stock market has been wonderful over the years, I believe Clinton with his

anything goes style opened the door for the Enron and other problems of

late.

Njja

 

[OzDigger]

Well it was SEE BS NEWS then...now SEE BS STOCK!
Learned my lesson from the tech bubble of 2000. I am now in real estate and gold (was below 300/oz. in 2000 and now 650/oz. May go to 2000/oz in a few years). And my rule of thumb is once I hit 40% profit, I sell.

N-P

I gave up the share market years ago to concentrate on residential real estate as it's the by far the best combination of gain and low risk. And I figure even if house prices crash you still have a house that your or you kids can live in until the situation improves.