An email to NorthPoint's Trustee asking for justice in America against corporate greed
From: XXX XXXXXX
To: E. Lynn Schoenmann
Sent: Wednesday, July 03, 2001 9:42 AM
Subject: Average small invester in NortPoint
Dear Ms. Schoenmann,
My name is XXX XXXXXX, I am a new member of the Northpoint Shareholder's Group. I bought 1,500 shares of Northpoint after their merger agreement with Verizon (almost a $15,000 investment, since the shares were around $10 at that point). I also bought 30,000 more shares (averaged down) after Verizon pulled out of the merger, hoping to one day at least recoup my original investment, because in my view, this was pure treachery on VZ's part, and no court would allow them to get away with this.
I am married, with a new child and make about $40k a year. I don't "play" with my money, and the Northpoint deal looked like one of those deals that make history (Verizon, a "trusted" household name, Northpoint the up-and-coming DSL groundbreaker, the Telecommunications Act of 1996 in effect.... what could go wrong?). With Verizon making statements about what a great deal this was and how the merger would create the largest DSL network in the country.... imagine how cheated (and gullible) I felt when they broke off the merger and sent Northpoint's stock to the bottom.
I'm sure you have heard many versions of this story.... mine is yet another. I am just asking you once again to remember the people who have lost so much. With the current state of corporate America (the improprieties of Enron,Worldcom,Verizon, etc), the CEO's and board members lining their pockets at the expense of the average investor, it's time someone reminded them that we (all Americans, wealthy, middle class, and the poor) are losing faith in the system and tired of getting the short end of the stick, and were not going to take it anymore!
From what I see on the StockSkill website, you are doing a diligent job, and thank you for that. I just wanted to let you hear another voice of someone who has lost unfairly in this whole deal.
Thanks again!
XXX XXXXXX
Average small investor
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