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VTSS Investor Forum

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The companies destiny no longer in her hand! SAD day indeed but perhaps the Scale matter will brings us greater joy sooner than later.

Posted by GARIF - 5 years ago

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We the shareholders have been dealt a raw deal. This puppy is worth far more then a 32% increase in today's price....how sad!!!!!

Let's hope the big guys see the CRG dream and are willing to step up and take VTSS out in a bidding war for what it's truly worth.

I have held on for so long through the ups and downs ... It's now time to reward those long time supporters with something substantial.

Shame on you BOD.... This puppy's technology is worth far more!!!!!

Here we are at the start of a new phase of IoT...and you guys are selling out for a few short term nickels and dimes..... I hope you have other buyers in the wings for a bidding war.

If I could raise the cash I'd make a move on you!!!!!!

Posted by Pac5705 - 5 years ago

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Last post I'll ever make here. For the last 9 years, we've listened to lies, damned lies and statistics as Mark Twain would say. Billy finally said sell after likely looking at a crappy quarter. After four years, 30 cents more than the 1 for 20 reverse split price. This experience has left me much poorer, but given me more education than my actual MBA ever did. At this point, we can only hope that Broadcom comes in with a $7 or greater offer. On the bright side, I have a big gain coming from private company stock sale, and now I have a big loss to offset it. Good luck to all and may we all never get sucked into such an investment scam ever again. Beware of pumpers and dumpers.

Posted by sharpinvestments - 5 years ago

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It's over.

It has been a wonderful education. The technology is invaluable, but VTSS has neither the size nor the breadth of products to make a market, and so they must sell at a discount to what that technology might be worth elsewhere.

It was the logical and the right thing to do in the end. BM did the right thing and probably forced the hand of management. The insiders will still cash-out with a great deal of loot.

Lou is still free and wealthy. To paraphrase Leona Helmsley "Only little people pay". Let this be our lesson.

Posted by phobos - 5 years ago | Updated 5 years ago

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Why are you guys on this board being so passive and accepting?????
.... BS.... stand up an be counted.....file a complaint with the ambulance chasers... The lawsuits will be flying... We as the long term shareholders deserve our day in court.... selling out so that the insiders with stock options do well is not in our interests... Or theirs for that matter ... Without us VTSS would been out of business a long time ago.
We as the long term shareholders deserve more respect then a miserable 32% return. Here we are at the tipping point of IoT and the next generation of Ethernet....and you guys are conceding? WTF..... After all these years we deserve a viable return on our investment. Shame on you BOD!!!!!!!...withold your votes shareholders. This is puppy is worth $12 - $20+. Stand up and be counted!!!
We deserve what's rightfully due.....

Posted by Pac5705 - 5 years ago

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Well, OK:

"Under the terms of the merger agreement, Vitesse may solicit superior proposals from third parties for a "go shop" period of 21 calendar days continuing through April 7, 2015. It is not anticipated that any developments will be disclosed with regard to this process unless and until Vitesse's board of directors makes a decision to pursue a potential superior proposal. Deutsche Bank will assist Vitesse with its go shop process. There are no guarantees that this process will result in a superior proposal. The merger agreement provides Microsemi with a customary right to match a superior proposal. The agreement also provides for certain break-up fees payable to Microsemi in connection with the termination of the agreement in certain circumstances."

The possibility exists, especially if one of VTSS' customers is a direct competitor of Micro, that there could be a competitive bid. What is the point of protesting though? Why wouldn't management take a higher offer if there was one?

The ambulance chasers did us so much good with Lou and crew...

Posted by phobos - 5 years ago | Updated 5 years ago

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Pac5705 ... You have not been around here very long based on you post .... we were all just along for the ride, and the rebar that has been shoved up our collective asses since Lou started screwing us more than 9 years ago; he had actually been screwing us long before that, but it did not come to light until 2006, this was followed up by CRG and the BOD for 9 more years. A lot of us have aged in a bad way because of this event. My loss is $166,000 if today's price hold, which I believe it will because I do not believe VTSS IP is all that great ... so we will see if there is a bidding war ..., don't count on it.

G

Posted by G - 5 years ago

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I posted this 7 days ago.
"Given Gardners ability to sell a story and his demonstrated inability to ever make it happen I think Ragin Billy would support VTSS being acquired at $5 in a heartbeat."

I take some solace in reading that Warren Buffett now considers his worst investment to be his first when he bought Berkshire Hathaway because he got mad at the CEO. It took him 20 years to get over it and move on. VTSS was never going to go anywhere under Gardner.

this site comes up for renewal in the summer and of course I will let it die a natural death.

Good luck to all of you. I have enjoyed our association. You are all bright, perceptive and willing to do some homework on your investing. And in an on-line world where manners and discourse can reveal the ugliest in many you have all shown the highest of class.

I have no question but you will all have good investment experiences moving on from here.

Again, good luck to all of you. You have been the one redeeming bright spot in what has otherwise been and very ugly experience.

Posted by dlog - 5 years ago

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Interesting here. MSCC is saying that the acquisition of VTSS will be accretive (add to earnings) in the year ending September 2016. Accretion of $.20 per share. MSCC has 90 million shares out. Tax rate is basically 0 at present. So MSCC thinks VTSS will add $18-$20 million of net income by next year. How? Here's how. VTSS SG&A is $30 million per year and the R&D is $45 million per year. SG&A gets cut by half easy and probably more. And R&D will come down.

Today at VTSS everybody, and especially the SG&A types, is updating their resumes and will have them out on the street by noon.

This is really tragic. A little management and this company could have been something.

Posted by dlog - 5 years ago

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...my guess about what happened is that BM had a deal waiting in the wings, but then CRG started back-pedaling on the H215 promise, and that was that. But it's what should have happened a long time ago.

Posted by phobos - 5 years ago

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Phobos, you are undoubtedly right. Gardner has never delivered, ever. This is the first time he has had someone hold him accountable.

Posted by dlog - 5 years ago

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dlog . . . a BIG shout out to you is in order my friend for keeping this site/blog going for as long as you have . . . this was the only place where those of us truly burnt SH's could come to discuss relevant matter absent wading into that Yahoo cluster-F of spam.

I also want to thank some of the main posters on this blog - which certainly was not me as I had long given up the ghost on CG as his actions spoke louder than his words; he was in WAY over his head from the get-go, and learned all to well from LT how to screw SH's - as some of you folks have been truly amazing in crunching the numbers, and doing the "heavy lifting" on trying to figure out the value of this company.

I was not surprised at all by the low price offered. If BRCM was at all interested in this turd they would have purchased it a long time ago. I suspect that once the dust settles, the new owners of VTSS may have buyers remorse.

On a positive note, I took a size position in TQNT (now = QRVO) several years ago when it was in the low single digits, and am still holding it all, so my paper gain in that as of today is actually greater than what my realized loss will be on VTSS; of course that too could all go south in a hurry. But TQNT+RFMD = QRVO seem to have managed their 2nd coming better than VTSS ever did, and their chips are in the hottest sector, for the time being . The only problem is . . . all of my VTSS is in my taxable account, and all of my QRVO is in, you guessed it, my tax-D account, so there will be no write off unless one of you brilliant accounts on this board can inform me otherwise?

At any rate, ALL the best to all of YOU . . . and be careful about averaging down, as it can be one, long and ugly nightmare, as we all learned the hard way. Finding good honest management in public companies is becoming very challenging; few of them give a rats-ass about the average SH.

G

Posted by G - 5 years ago

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i stated at the SHM -VTSS was worth over $400MM -or $6 -without any rev value for IIoT or Storage - - -

little did i know that the BOD was gonna meet and discuss the offer@@!! about 3 came up to me after to talk - -i bet now they just wanted to know if i knew something that might have leaked!!!

am sure MSCC is a fine fit - -they can cut costs and you all should remember that the Seagate deal is where the real value is in the near term for them.

everyone here remember - -VTSS had 2 dilutions in one year - -and still sold for more than double - - so when u hear bad posts about dilutions -- remember that FNSR and VTSS both survived to sell at higher prices. also remember that currently MSCC is higher and so is VTSS - -when u see the buyer in an all cash deal have its shares gap UP??? there is still meat on the bone and maybe BRCM is having an early meeting this a.m.

please -as you all berate crg --know that he steered us to an appropriate conclusion - - delays in the roll-out of LTE-Advanced were not his doing - -the Snowden effect did cost us 2 years or more - - softness in China was not his doing -but he had to report without channel stuffing - the truth from China - -not hide it as his peers were able to do -he didn't take us down the Gopi the Dopey path of a server on a chip and lower still - -

trade on@@@!!!

thanks to dlog for keeping this board alive - -

i might just take it up as the MSCC board --they gonna rock with VTSS inside!!!!

Posted by daWiley1 - 5 years ago

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Now it makes sense that CRG was left at the helm- BM wanted stability to sell the company at a profit for himself. At this price I'm sure Kopp Investment and other long term holders will end up underwater.

Lots of articles/investigations on fairness of buyout and the undervaluing of the company.

It's an end of an era and reminds me of Michael Dell taking Dell private, where long-term holders were locked into loss and Dell and the gang will go public again in the future.

We'll see if any White Knights come out of the woodwork.

Posted by Techinvestor - 5 years ago

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You know, I just had a thought, another possibility is for the immanent acquisition to start a bidding war, but somehow I'm skeptical. In any event, BM will walk away with a fat profit, or perhaps an even fatter profit, he can't lose at this point.

I thank everyone who posted on the board for the better part of a decade. I always looked forward to reading here... I always learned something. We helped each other become better investors, we exchanged ideas, and we helped each other work through the massive screwing shareholders received at the hands of management: never again.

dlog, thank you for subsidising this board (materially and financially), and for your many insights into VTSS' financial doings. I learned a lot. Thank you.

To everyone else, I thank you all. It was an education and a genuine pleasure. At last this chapter of the dot-com bust can be put to rest.

Posted by phobos - 5 years ago

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We will see after all these years and all the stories whether or not Vitesse is truly on to something. Supposedly the hottest market potential and new market opportunities,

So if someone else steps up and makes a better offer, we might finally know. If not, take the $5.28 and run,

Posted by jvincent - 5 years ago

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Thanks phobos, daWiley1, dlog and others for your time and effort to bring not only information, analysis, in addition to insightful commentary.

Hopefully the site can continue until the deal is consummated as we go through the ebbs and flows of lawsuits and investigations.

Posted by Techinvestor - 5 years ago

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Why did all 3 Senior Execs (insiders) sell shares last week (although they were nominal amounts) just before the blackout period kicked in? Something seems fishy........

Posted by Pac5705 - 5 years ago

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Was this a rush job?

Here we are ...apparently on the launchpad with enormous upside... and we got sold out for a miserable 32% gain? Something just doesn't tally... Insiders selling last week ( could have been standing orders)....huge design wins...with only good things to come .... So why sell now?

Or is it because we're not in good shape...possibly heading into a weaker quarter....or is it because the insiders stock options all vest immediately on the sale....giving the BOD and Exec team a nice pat on the back... at the expense of the long term shareholders who have weathered the storms and lost a lot of money....and still remained faithful. I don't get it....

I did check in with Berdon claims and they mentioned they are still awaiting a distribution order from the court .... c'mon...how long has it been now?

This is one unhappy shareholder whose only hope is for a bidding war to begin.... but a 3 week window doesn't give much time. Wonder why they agreed to such a narrow timeframe. Sounds like someone was under pressure to sell..

Questions, questions, questions..... With no transparency at this time...but someday it will all come to light.

Good luck everyone.

Posted by Pac5705 - 5 years ago

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Pac5705 . . . is was already cast in stone that the SH's would get sodomized on this deal in the end . . . what more did you expect from the scum and crooks running this company; just look at the past history. BM had his own investors/issues to deal with, so you can't fault him. He probably was tired of CRG BS stories and not producing the goods, and had enough. I am not counting on any bidding war for this simmering turd, so keep dreaming.

Posted by G - 5 years ago

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Well I count 5 law Firms so far that have investigations into the fairness of the VTSS sale to MSCC- should be interesting.

I think we forget at times that the $ 5.28 buyout price is really 26.4 cents due to the July, 2010 1:20 reverse split. A sad ending to a company that showed such promise years ago.

Posted by Techinvestor - 5 years ago

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"This is really tragic. A little management and this company could have been something."

And perhaps she could have been a contender...

Was a pleasure forum members! may the force be with all of you.

PEACE,
Garif

Posted by GARIF - 5 years ago

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Good point, Tech, we tend to loose sight of the fact that VTSS was sold for .26 ... The beauty of RVs . . . It allows garbage companies to continue trading on the major exchanges.

Posted by G - 5 years ago

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Has the fat lady begun to sing?

http://blogs.barrons.com/techtraderdaily/2015/03/19/vitesse-microsemi-deal-inexpensive-says-asciendiant-brcm-mrvl-could-bid/


The last paragraph (Good Fit ) in the story below is verrrrrry interesting!

http://www.eetindia.co.in/ART_8800710864_1800005_NT_56168958.HTM

Microsemi/Vitesse --> a good fit?

http://www.eetasia.com/ART_8800710862_499488_NT_6c0b388d.HTM

Posted by christ3opher - 5 years ago | Updated 5 years ago

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BM either gets a quick payday, or an even bigger quick payday, if another suitor comes out of the wings to make a more lucrative offer during the "go shop" period. He makes money and no more "softness in China" shannanigans. If someone else was thinking of making an offer, we could get a bidding war. BM either wins big or wins even bigger. I suspect they moved now because Q315 was not shaping up as projected, so BM made his move before any value was lost on the "story". Companies buy other companies as much for the talent and technology, as they do for the business. These next 20 days may prove interesting, which is wishful thinking on my part.

Thanks for finding that Christ3opher.

Posted by phobos - 5 years ago | Updated 5 years ago

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Phobos, I agree that this quarter apparently may not be coming together as planned so Billy took any deal he could to save face. This deal must have been in the works for some time so the real question is whether there is another bidder in play. I sense that there is.
Nuss is a visionionary and I believe if it wasn't for short term greed this company would fly.....whoever wins this bidding war in the end will do well for their shareholders. I just we could have continued solo...

Posted by Pac5705 - 5 years ago

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Yahoo Finance Message Board for MSCC seems to be dead. No posts on VTSS takeover and only showing 2 posts in the last year- Jun, 2014 & Feb. 2015.

Interested/active shareholders must have an equivalent to Vitesse Investor Forum.

Posted by Techinvestor - 5 years ago

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Microsemi surges after Vitesse deal; bidding war considered possible -- http://seekingalpha.com/news/2381366-microsemi-surges-after-vitesse-deal-bidding-war-considered-possible

Posted by phobos - 5 years ago

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Can anyone confirm how much cash Microsemi are sitting on to go through with this acquisition? Yahoo only indicates $182M. Where will the balance come from besides the $30M they net out from VTSS.

Posted by Pac5705 - 5 years ago

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A stupid bank will be happy to lend it to them!

Posted by G - 5 years ago

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Yea how sweet it is, the 30 from Vitesse helps ease the burden of Micro. The damm fools just gave the farm away for pennies; lets hope Broadcom or some other outfit joins the bidding.

Could Crg be using Micro to get Broadcom to loosen check book?
Broady could truly gain from a Vitesse purchase.

Posted by GARIF - 5 years ago

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...here's another wrinkle:

Now we all understand that MSCC is getting VTSS at a bargain basement price, but also MRVL and BRCM may be using VTSS' IP. What if MSCC decides "we will no longer be selling IP to our competitors. Instead we will offer it exclusively through our own products with proprietary development software." This could be a problem and might add a few extra sheckles to the case of why MRVL or BRCM might want to make a counter-offer. Will MSCC attempt to lock the competition out of the market?

...just a thought.

Posted by phobos - 5 years ago | Updated 5 years ago

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If there is to be another offer, why not wait until the 11th hour so as to not tip your hand?

Posted by Dcn96 - 5 years ago

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Interesting. Why wouldn't MSCC be given the courtesy of a counter counter-offer within a reasonable time-frame? Can someone just sneak in a last-minute offer of say $5.29, and with no time to respond, VTSS would have to take that offer and be acquired by that last-minute bidder? It would be to VTSS' advantage for a bidding war to ensue. ...not that this will happen.

Then again, a whole lot might be happening:

"It is not anticipated that any developments will be disclosed with regard to this process unless and until Vitesse's board of directors makes a decision to pursue a potential superior proposal."

Posted by phobos - 5 years ago | Updated 5 years ago

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Even if a last minute "superior" bid comes in, I would think MSCC would be given a reasonable time to match the offer. The break-up fees would also have to be determined if applicable.

" The merger agreement provides Microsemi with a customary right to match a superior proposal. The agreement also provides for certain break-up fees payable to Microsemi in connection with the termination of the agreement in certain circumstances. "

Posted by Techinvestor - 5 years ago

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If the deadline comes and goes in total silence it will mean that offers were made. lets hope that Crg was using MSCC to boost return for all of us.

I still cling to the idea that this was Crg's plan from the start, lets hope he pull's it off...

Posted by GARIF - 5 years ago

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It looks as though Microsemi has been attempting (and others) to buy Vitesse over a number of years. (attempts to buy begin on page 16).

as listed in filing below:
first offer to purchase Vitesse was in 2012.
unbelievable or not that $2.50-$3 share was their first offer!


*Golden Parachute Payment* (page 14)
CEO Gardners final payout is listed at $3.9M
CFO McFly final payout is $1.1M

SC 14D9 below filed on March 31, 2015

http://files.shareholder.com/downloads/ABEA-4EMVKT/0x0xS1193125-15-113117/880446/filing.pdf

Posted by christ3opher - 5 years ago | Updated 5 years ago

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On page 32 the projections of future revenues are listed:

2015-2016-2017--2018-2019--2019
$ 112 $ 143 $ 187 $ 226 $ 268 $ 273

Given that "the ramp" was originally supposed to start in '14, and that the yearly growth in the numbers above over the interval is mysteriously close to the 20% that was a management "reach number" for VTSS in a past earnings call, I have two words for MSCC: good luck!

$5.28 is just fine as far as I'm concerned.

christ3opher: the "go shop" period is not over yet, but judging by the history of exploring alternative offers, I think that all potential partners know what they will and will not pay at this point. I don't know what basis the "slip and fall" lawyers would have for a suit (probably just fishing), but they have come out of the woodwork. The negotiations seemed comprehensive, fully explored, and literally resulted in the highest price offered so far.

Posted by phobos - 5 years ago | Updated 5 years ago

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VTSS is positioned for the IOT marketplace- IBM is creating IOT unit and will invest $ 3 bil over the next 4 years. I don't think there is a lot of interest in VTSS, with the exception of maybe someone who wants to keep VTSS and technology out of MSCC hands.

Maybe these beaucoup lawsuits will generate a settlement fund with of course a big percentage going to lawyers- shareholders may get something out of it.

Posted by Techinvestor - 5 years ago

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Still, what might have been: http://phys.org/news/2015-03-huawei-profit-percent.html

Posted by phobos - 5 years ago

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Yea, they probably could have become a contender... instead they join the likes of Mindspeed into oblivion.

"$5.28 is just fine as far as I'm concerned."

They can do better than that! a dollar more be much better, a thank you to us bagholders.

Posted by GARIF - 4 years ago

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Well- time is running out for our White Knight- Apr. 7 deadline. With markets closed tomorrow, just 2 more trading days until offer(s) due.

It's sad- company was positioned nicely in IOT and was in a sense a startup with potential with some decent management. But once BM moved in, the handwriting was on the wall. Make a quick profit and move on.

CRG, BOD, and management will be richly rewarded and employees & long-suffering shareholders will be the losers.

Posted by Techinvestor - 4 years ago

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We may all get a surprise after Apr. 7- VTSS price may go down below $ 5.28 offering price (Who knows how much) to factor in uncertainty of deal.

Then the arbitrageurs will be involved.

Posted by Techinvestor - 4 years ago

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The share price closed at $5.28 on Thursday, which is a strong indicator that vtss will be sold to mscc at the stated offer price. VTSS is selling cheap relative to management claims, but at a fair price relative to management's shakey track record in its forward projections and considerable forward-looking risk.

The slip and fall lawyers could help us sue each other (why?), or perhaps scare off mscc and keep the deal from happening at all, but just like in the great debacle of '06, we will get no claw-back from those responsible.

Lou failed to adjust vtss' business to a changing market, and was caught red-handed backdating options, lying to shareholders, and channel-stuffing to conceal what was at the least malfeasance, but was probably much worse. No one ever got a dime from all the lawsuits. Lou skated and never returned one thin dime to the shareholders he screwed. Shame on us for being fooled by this sociopath.

Into the vacuum appeared CRG, an engineer with little in the way of corporate leadership experience. Over the last nine years we have subsidized CRG's on-the-job-training to the tune of watching the share price plummet from around $2 to our current $0.26, or so. As shareholders we have all learned two very expensive, but essential lessons: first, get out of any investment at the first hint of impropriety. The deck is stacked against the investor, and once your money is gone, it's over. Second, if management's interests are not aligned with those of the shareholders, all is lost. CRG is an engineer, not an entrepreneur. His goal was always to save his job and those of his fellow engineers and not to build a company. Suspension of the shareholders' meetings in those first few years should have given us all a clue. We were not partners, but rubes to be gotten over on.

I consider these valuable lessons.

Posted by phobos - 4 years ago

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Well said, Phohis! I once posted, a long time ago, that I wished LT and the other crooks that were party to this event some nasty life changing disease in their golden years. I took some flak for making that statement. I stand by my statement to this day; they deserve it. We were all screwed over, some worse than others, by this event, which in no small way has taken its toll on all of us. The SEC did what they typically do; nothing. I am afraid that the actions of LT and his ilk are not a six sigma event in this day and age on WS.

G

The Land of Milk and Honey . . .

We've seen it all before
repeated countless times
the way we treat our criminals
is a function of their crime.

Blue collar, white collar
it's not suppose to matter
Lady Justice got some glasses
and color alwas matters.

Cash is king they say in the land of milk and honey
you can get away with anything
if you're politically connected
and have enough money.

Rob a store to feed your habit
you'll rot in prison
where hard men
will fuck you like a rabbit.

But if you steal in a way
that is sophisticated, clever or novel
you'll pay a fine, but do no hard time
In the land of milk and honey.

G

Posted by G - 4 years ago

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"Cash is king they say in the land of milk and honey"

"and color alwas matters."

Well said G, Damn! the boys have done it to us again.. Only in America...
I vividly remember your wish upon the Vitesse brain trust, in life I live by the belief that we will all pay the price for intentionally screwing over others; Karma is a bitch! sometimes it's the blood line who pays for the ills of parents but seldom do deeds go unpunished by life.

G, you read these jokers for what they were! you were RIGHT dear friend, DAMN YOU WERE RIGHT.

Posted by GARIF - 4 years ago

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Not sure about only in America... But we do seem to set the bar pretty high though. I suspect other countries are as bad, if not worse. If the SEC grew some bigger balls and started handing down nasty sentences for these white collar crimes and with greater regularity, then perhaps these sorts of crimes would be less frequent. But greed does make some people loose all sense of their morale direction.


If I opened my front door in the morning and LT and his crew were all standing there on fire, I wouldn't urinate on any of them, but I just might open a bag of marshmallows.

Posted by G - 4 years ago

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...the clock is running-out.

Posted by phobos - 4 years ago

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Why are shares being traded below $5.28 at $5.26? Is the deal unraveling with only a few hours to go?

Posted by Pac5705 - 4 years ago

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What is happening is normal. Today, I believe is the deadline for other offers. You would expect VTSS to be priced after the deadline, below the $ 5.28 offer to price in the uncertainty of the deal completing, lawsuits and all. The question is "How much ?".

Posted by Techinvestor - 4 years ago

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I received my tender instructions today in my Charles Schwab account ... so I assume if I do nothing my shares will be tendered on my behalf?

This entire event has left me discussed!

G

Posted by G - 4 years ago

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I don't see anything on Ameritrade. How does this work and how long does it take. Does VTSS still trade tomorrow?

I guess I should have just sold out a couple of days ago and been done with it. But as a 10 year bag holder I had to hold out until the end just it case ...

Posted by uwave1 - 4 years ago

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Not sure how to interpret this. From the purchase announcement Mar 18th:

Tender Offer and Closing

Under the terms of the definitive acquisition agreement, Microsemi will commence a cash tender offer to acquire Vitesse's outstanding shares of common stock at $5.28 per share, net to each holder in cash. Upon satisfaction of the conditions to the tender offer and after such time as all shares tendered in the tender offer are accepted for payment, the agreement provides for the parties to effect, as promptly as practicable, a merger which would result in all shares not tendered in the tender offer being converted into the right to receive $5.28 per share in cash. The tender offer is subject to customary conditions, including the tender of at least a majority of the outstanding shares of Vitesse's common stock on a modified fully diluted basis and certain regulatory approvals, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in Microsemi's fiscal third quarter, ending June 28, 2015.

Posted by uwave1 - 4 years ago

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Trading continues today ($ 5.26 - $ 5.28) and did receive details on tender offer from TD Ameritrade. Tender lasts until Apr. 27 unless extended. I'm assuming if shares not tendered and deal completes, shares in account will convert to $ 5.28 automatically. This has happened to me before with other stocks.

I guess our inflated opinion of VTSS was not shared by any other company. VTSS will be absorbed into MSCC (Assuming lawsuits don't prevent this), employees will lose their jobs, hopefully CRG will go away (albeit with a satchel full of cash), and Vitesse will just be a "fond" memory.

Posted by Techinvestor - 4 years ago

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Sold at $5.27 just to get it over with. I couldn't justify paying margin interst any longer.

Was there any benefit to waiting?

I had trouble opening the 60 page document this morning.

Posted by uwave1 - 4 years ago

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"I guess our inflated opinion of VTSS was not shared by another company." I never really had the opinion, Tech ... what I clung to was a false sense of hope and as we all know, hope is not an investment strategy.

Posted by G - 4 years ago

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I could of sold 10 cents higher a few weeks ago, but after 10 years of waiting for it to pop I had to ride it to the end.

If another offer came in I would have been kicking myself if I missed it.

I bought some MSCC thinking it will go to $40. Maybe that was dumb, but I don't know another stock intimately like I knew VTSS.

I've been following it since around 2002. I've been in it since 2005 and averaging down ever since Cramer said "buy, buy, buy" right before the s**t hit the fan. I've been too afraid to get out of it ever since in case it popped.

I've had so many margin calls I'm not sure where I stand. Another $1 would have put me in the black.

Posted by uwave1 - 4 years ago

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