Re: It seems to me.........TPL ..... We wussed out....
in response to
by
posted on
Jan 11, 2010 09:01PM
"TPL has stuck it to us for too long.....Now that they need monies to survive we play nice with them...............The BOD NEEDED TO PLAY HARD BALL and we gave them a sweet heart deal........
I realize that if TPL goes down so do we but we finally have an upper hand and the BOD WIMPS OUT......"
Sorry, I gotta mildly dissagree with you on this....While I agree with you that TPL has been continually sticking it to PTSC year after year whenever and wherever possible, I believe, the BOD tried to be a team player, and provided short term financial support to TPL. PTSC & TPL are both in this together. It is not a zero sum game.
The BOD did exact a 10% interest for the loan and reasonably secured the loan to their credit. Additionally, there could be "chits" laid down now by PTSC in support of TPL , which we are unaware of, which may pay off down the road - But that is pure speculation on my part... Virt
Congrats on your J-E-T-S, but the Bolts are taking you down this weekend..LOL.