RE:Harvard Biz School case study...with emphasis on BS Great post. Welcome to the peanut gallery. I agree wholeheartedely with all of it. These guys had literally zero concept of risk/reward. The treated the half billion like my 9 year old son treats his birthday money -- seemingly desperate to spend it. Cynically I wonder if they were in a hurry to use the cash only so an acquiror would be less inclined to wrest control.
Don't forget the $2.7m bridge loan made to TradeX in Q2 or Q3 of last year, when they already knew the business was struggling. Usually bridge loans are super senior, well-secured animals. Not for Aimia. Total writeoff, no recovery.
The revenue decline at Tufropes is startling, and was very poorly addressed on the call. So much for increased transparancy.