Post by
woolwich on Jan 26, 2015 7:01pm
And the orchestra plays on
Despite continued large losses, exploding debt levels and loan transaction fees that would choke a horse, ARF showed up today on a website advertising an open position for a Director of Health, Safety and Environmental Services in their Kitchener office. The corporate life raft has an enormous hole in it but the company seems only able to focus on safety issues.
Today also saw the price of ARF's debentures trade at $20, up from $16 only a couple of weeks ago. Obviously somebody believes the next interest payment, due only at end-June, will be paid.
Seems reminiscent of the Titanic - keep the orchestra playing so no one gets too concerned with the ship's sinking.
Comment by
GladIMGone on Jan 27, 2015 6:52pm
Armtec also has a new (redesigned) web page, which I am sure wasn't worth spending the money on - not that it's big dollars, but hardly think that is going to improve sales. Seems slow and somewhat cumbersome compared to the last version. All these new links to the social media so people can get a hold of them - maybe if they kept the sales people, they wouldn't need all this?
Comment by
BeenAround88 on Jan 30, 2015 6:21pm
I just heard that their VP of IT resigned. That should take about $300K out of the expense column. Perhaps they'll start to tear down some of the expensive and ineffective systems and get back to basics. It never was a terribly complicated business. "Simple" worked in the past and that's the of approach they need for the furture..... If there is a future!