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Bullboard - Stock Discussion Forum EQUITY FINANCIAL HOLDINGS INC. T.EQI

"Equity Financial Holdings Inc provides financial services. The Company through its subsidiary serves the Canadian alternative mortgage market by offering residential mortgage loans to non-prime and near-prime customers."

TSX:EQI - Post Discussion

EQUITY FINANCIAL HOLDINGS INC. > very sad how an interim CEO can destroy shareholder equity
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Post by dealmaker0 on May 13, 2014 11:32am

very sad how an interim CEO can destroy shareholder equity

I think it will take years to recover , or a very bright CEO to turn this company around. I dream of what this company would have been had Nick been at the helm.
Comment by undervalue on May 13, 2014 11:56am
Yeah it is terrible that the board let this occur. I think Smoothwater is screwed with this one. EQI is now a mortgage buisness without scale, crazy costs, and a broken strategy.
Comment by las5513 on May 13, 2014 3:06pm
The following is an excerpt from a May 13th SEDAR posting. If Jones doesn't perform it will be costly for him. CEO has Strong Alignment with All Shareholders Equity has entered into an employment agreement with Mr. Jones, which ensures a strong alignment between Mr. Jones and the interests of shareholders while he is employed as the CEO. His arrangements include: • The obligation for ...more  
Comment by dealmaker0 on May 13, 2014 4:22pm
As I have mentioned before, look what he did to Xceed drove the company from 9 a share down to 1.75, when finally sold for a song. Very sad. Xceed Shares were entitled to elect to receive Cdn$1.75 in cash or 0.118 of a common share of MCAN
Comment by frickey46 on May 13, 2014 8:04pm
<so true="" -="" this="" guy="" along="" with="" some="" sr="" mgmt.="" people="" there="" already="" shouldn'="" take="" long="" to="" do="" the="" same="" thing="" here.br="">
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