What Would You Do?

[Joe DeFazio]

If I were the one in this situation, I would quit worrying about all of this money stuff and head to my shop immediately to make something nice out of wood .

Joe

[Uncle Cracker]

If I were the one in this situation, I would quit worrying about all of this money stuff and head to my shop immediately to make something nice out of wood

Ya, because as we all know, you don't need any money in this hobby...

[jackellis]

Thanks to all who responded. For those who had not figured it out, I'm the former executive who is a founder and I'll be sending my response to the company tomorrow. In it, I'm going to tell them that I'm not interested in any transaction right now and they should try to deal with the other shareholders first. If they can't find enough smaller shareholders to obtain the shares they need, then I'm willing to sell some or all of mine at a price that's well above the appraisal, but they have to offer that price to everyone and everyone else has to have a chance to sell before I do.

I happen to agree with Hank Lee's post on the distinction between what's legal and what's ethical, and that's why I crafted my response the way I did. One reason for insisting others have an opportunity to dispose of their shares first is to stay away from the ethical issues, though there isn't a very clear line. Suppose, for example, that lots of small holders do sell at appraised value and then I'm asked to sell shares at a new, higher appraised value in six months?

Time to make something.