[Kasept]

Originally Posted by SentToStud

There are 5 major institutional inverstors in Magna Dev. Their percantages of total Mag Dev stock range from 14% to 8%. Greenlight owns 10%. How come the other major sh holders aren't barking as well? According to Magna's response today, Greenlight has been been "attampting to impose its views" since 2003, when Magna Dev spun off.

You have to ask why Greenlight has stuck it out so long, as Stronach has been feeding money into MEC for years? It's interesting that the initial stock price was about $18/sh and as recently as 10 months ago traded as high as $39/sh. so, over those 4 years ending 10 months ago, Einhorn's initial $80 million turned into $190 million. That's not bad. But, the stock has been beat hard the last 10 months and that $190M is now $130M. Maybe that's what's got Einhorn especially po'd?

The second most interesting fact is that the five biggest inverstors Magna Dev holdings represent the following percentages of their OWN firm's portfolios: 0.8%, 0.9%, 1,7%, 1.7% and 5.0%.

The 5.0% is Greenlight. Einhorn certainly does have a lot of his eggs stamped Magna. The most interesting fact is that upon news of the proposed restructuring, Magna Dev stock rose 16% in a day which addded just under $200,000,000 in value to the company's stock. SOMEBODY liked the reorg plan.

Bruce..

Thanks for your imput here.. I know you have a real grasp of the financial market side of this, and the details of that aspect are not easy to grasp. Einhorn was on ATR last month and couldn't really expand too much on the pending court case, but his frustration with MI and MDC catering to MEC was palpable. I have no idea how Stronach plans to straighten things out at MEC. There just isn't any coherent direction..