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The plot thickens (Meade takeover)

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#51 Spacetravelerx

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Posted 19 June 2013 - 09:55 PM

Mike,

$1k, $20k...it all helps!

You get 5,000 folks putting in this range you have a powerful brain trust going. It would be the Green Bay Packers of the Astro world!
 

#52 Ed Holland

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Posted 19 June 2013 - 09:57 PM

Very interesting. Could we do it? I might be tempted.

Ed
 

#53 GeneT

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Posted 19 June 2013 - 09:59 PM

Whatever--but in my opinion, our hobby is best served having both Meade and Celestron functioning as strong, well run companies. I don't know the intentions of the two parties interested in the acquisition. I just hope that the stock holders sell with the intention of doing what is best to ensure Meade survives.
 

#54 Spacetravelerx

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Posted 19 June 2013 - 10:03 PM

Very interesting. Could we do it? I might be tempted.

Ed




Ed,

I think several folks may indeed catch onto this idea. My gut tells me there would be 1000 folks willing to invest $1k - $20k or more by Saturday. Another 4000 folks at least $400 by then.

Heck, if I had time right now I would start to keep a tally of the names, though I am heading to Washington DC for a bit of business there. Like I said, I want to play with my LX850, a wonderful kit, but I have lot's o' travel and work.

Then again, I could ask my team to help tally the names.
 

#55 Spacetravelerx

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Posted 19 June 2013 - 10:08 PM

Whatever--but in my opinion, our hobby is best served having both Meade and Celestron functioning as strong, well run companies. I don't know the intentions of the two parties interested in the acquisition. I just hope that the stock holders sell with the intention of doing what is best to ensure Meade survives.


I 100% agree. A strong hobby - and community at all levels - is needed.

To be be blunt, I think there needs to be a meeting of the minds of ALL key players in a summit with all political agendas aside. This field needs the excitement of the glory days - and growth.
 

#56 cuivienor

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Posted 19 June 2013 - 10:25 PM

Count me in for $5k.

Kickstarter anyone?
 

#57 Spacetravelerx

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Posted 19 June 2013 - 10:33 PM

Count me in for $5k.

Kickstarter anyone?


I was thinking Kickstarter, but then I thought this would be better as a "home brew" within our community.

Unless Rich was thinking of migrating this to Kickstarter...
 

#58 Starman27

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Posted 19 June 2013 - 10:33 PM

This is the second thread on this topic by about a day and a duplicate thread. The original one is in the Meade forum.
 

#59 brucepech

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Posted 19 June 2013 - 10:39 PM

Two shares a $200 plus an additional $200 for operating capital is less than the cost of a new Nagler 31mm eyepiece (which I don't really need anyway). Another $400 to cover a share of the NOL if necessary. But I have to live on my pension and retirement savings so I'm tapped out at $1K. :(
 

#60 ColoHank

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Posted 19 June 2013 - 10:55 PM


Quote:
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It'd probably be a safer bet to buy lottery tickets.


--------------------------------------------------------------------------------



No way, ColoHank. Lottery is very very VERY remote chance of success.



Exactly.
 

#61 Pedestal

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Posted 19 June 2013 - 10:57 PM

Humm.. I really don't think the idea of a direct CN takeover of Meade is practical. Even if the money could be raised, setting up the legal end would probably take too long. BUT.... Supposed Astronomics made a bid, backed with money from a fund owned by CN members...... I think the legal loops would be less daunting. A simple LLC with cash loaning Astronomics money for a share/stake in Meade.... There is probably a dozen or more reasons why this would not work, but.....
 

#62 Spacetravelerx

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Posted 19 June 2013 - 11:01 PM

Humm.. I really don't think the idea of a direct CN takeover of Meade is practical. Even if the money could be raised, setting up the legal end would probably take too long. BUT.... Supposed Astronomics made a bid, backed with money from a fund owned by CN members...... I think the legal loops would be less daunting. A simple LLC with cash loaning Astronomics money for a share/stake in Meade.... There is probably a dozen or more reasons why this would not work, but.....


Setting up the legal end is very easy. Been there, done that.

Why would the legal loops be less daunting with Astronomics? If anything adding Astronomics might be bad - other dealers would disappear. If anything I would want to grow Meade separately and have Astronomics as a partner growing sales. Everyone wins.
 

#63 Spacetravelerx

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Posted 19 June 2013 - 11:08 PM



Quote:
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It'd probably be a safer bet to buy lottery tickets.


--------------------------------------------------------------------------------



No way, ColoHank. Lottery is very very VERY remote chance of success.



Exactly.


Are you inferring this would be a remote chance? Who knows. But you never know, if you don't try.

Being an entrepreneur is risky, but the rewards can be enormous.

I remember years ago on my first big project working out of the corner of the basement. I was too poor to work from the garage. I had a great idea, but I was told I was nuts. Never happen. Wasting money.

I got a little invoice, from NASA, for $24,000. The business then grew, and grew...in 2 years sales hit $5 million. It was interesting how those naysayers wanted to become buds AFTER I was successful.

To be successful, you have to believe. It also helps to be a little smart too though, and a dash of luck. ;)

As has been said: "We are the music makers, and We are the dreamers of dreams."

Well back to the fun.
 

#64 OleCuss

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Posted 19 June 2013 - 11:15 PM

.
.
.
So OleCuss - if we get enough in the pool you want to join the team?


I appreciate the implicit offer, but at the current entry price - not even a chance.

I've got one daughter who just got engaged and will be marrying late August or early September. I've got another daughter who will almost certainly get her proposal within the next 1.5 weeks (although she doesn't know that yet).

Sort of ties up my discretionary funds for the near future, so even if someone could convince me that this was a winner of an idea - I'd be out.

So no one should consider my non-participation as meaning that I continue to be a skeptic despite the efforts.
 

#65 Starhawk

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Posted 19 June 2013 - 11:20 PM

I didn't want to migrate to something like kickstarter. To be blunt, it's the disinterested investor who got this where it is.

I have, however, had a couple of other thoughts we might consider:

If not a Meade takeover (which may just get bogged down by legal actions from existing parties), the amount of cash we have talked about is enough to start a small manufacturing activity; one which would produce exactly what we want. So, this could be termed set up a CN prime.

Alternatively, it could be an effort more centered around buying IP and arranging for it to get used. This would be somewhat related to the above concept.

So, where I am going with this is success in taking over Meade is not necessarily the end-all in itself. With or without a success, there, possibilities are still available. Think about the level of skills across CN and I think you'll see what I mean.

-Rich
 

#66 jrbarnett

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Posted 19 June 2013 - 11:24 PM

What litigation?

The highest bidder will get shareholder approval. Period. That's all the investors care about - maximizing their return on the buyout. There's nothing to litigate about if the shareholders approve an offer.

I think the CN bid is brilliant. The first crowd sourced takeover of a public company in history. But more likely a concerted CN effort to create an offer would drive the JOC and/or MITC bid up, making the greedy shareholder SOBs happy-happy.

The current litigation is shareholder derivative litigation targeting management for accepting the JOC bid, which was lower than the PE bid. Management took the bid that was less shaky and likely to keep at least some of them employed. The Shareholders, however, want their extra 20 cents. 95% of all takeovers do not result in shareholder litigation; typically shareholders approve. In fact, this litigation will be over quickly if a majority of shares approve the JOC takeover, leaving the bottom feeding contingency fee attorneys representing the plaintiff shareholders SOL.

Regards,

Jim
 

#67 EFT

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Posted 19 June 2013 - 11:36 PM

Count me in.
 

#68 Starhawk

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Posted 19 June 2013 - 11:52 PM

Ed, thank you.

-Rich
 

#69 Geo31

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Posted 20 June 2013 - 12:01 AM

I've been through bankruptcy and both sides of M&A.

Right now everyone is maneuvering for their best position. Count on nothing less. I was shocked by Meade's audit statement, but as an accountant, I can assure you that Meade management had some influence on that statement, even though that is not supposed to happen, especially with Sarbanes-Oxley.

Everybody is trying to work out a deal that suits them best. The fact that shareholders are upset may be a result of them being idiots or it could be they ARE getting shafted by management (wouldn't be the first time).

If Meade is viable in some form as a going concern upon acquisition, there will be financing available. It would be in too many people's best interest.

Clearly though, the company has serious issues. The sooner this is resolved, the better for everyone involved in one way or another.
 

#70 mistyridge

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Posted 20 June 2013 - 01:38 AM

Count me in to.
 

#71 travelenfree1952

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Posted 20 June 2013 - 04:27 AM

Spacetravelerx....Count me in. I would like to see us get a groundswell of CN forum members and meet the challenge that is in front of us, together. Lots of strength in numbers and $$. You guys are why I love this forum. We come together with our shared passion for astronomy and its technology and solve problems for each other....Meade's problem affects us in a major way. Maybe, we can do something about it :question: Travelenfree1952
 

#72 Qwickdraw

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Posted 20 June 2013 - 05:41 AM

I could potentially invest an undetermined amount of cash ~25k. I say "potentially" because this would obviously depend of having full disclosure of all assets and liabilities of Meade. You don’t just say I want to but X company without knowing what their dept is as whoever purchases the company also purchases their dept.

Secondly, Does this get me priority status on having my 14" LX850 built? :grin:

Lastly, The first time we need capital and have to go outside our internal resources in today’s environment and considering Meade's tentative status no VC company is going to buy into it without a controlling interest. I guarantee you that today's Modus operandi for these companies is to gain control and when the time is right execute a "George Zimmer" on CN interest...'I guarantee it'
So my point is there would need to be not only enough cash to purchase but enough to keep out the bad guys.

 

#73 Starman27

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Posted 20 June 2013 - 06:50 AM

This is an interesting thread. Most companies last about 50 years. The brands out live the companies that created them.It is interesting to see what we would or could do if we invested in our own telescope company.
 

#74 mayidunk

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Posted 20 June 2013 - 07:20 AM

It could keep Meade from either going under, or becoming just another "used to be" marque! I might be persuaded to kick a little cash into this...
 

#75 ken svp120

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Posted 20 June 2013 - 07:56 AM

While it is a romantic idea to have us members take over Meade, speaking from a practical standpoint, I think its far too late to have started this fund raising campaign. If we had taken this issue seriously about 6 months ago, formed a legal entity and set up a fund at that time, we might be at the bargaining table now. But sadly, nobody wanted to accept reality as it was in fact taking place. Now for anything to happen we would need someone with the cash at the ready...I doubt that having a few of us here and there is going to get $5,000,000 or so together in time to do anything.

Now go out there and prove me wrong! :grin:
 


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