Greed sucksThe latest news of shutting down Atiplano is no surprise. I just makes me angry all over again at management though. Back in the day when SAM looked like it had a bright future, Eadie was behind several junior companies (5 I think. Can’t remember what they called the group of companies). As things started to fail but SAM still had a little bit of life, he tried to save a few of the other failing companies by having SAM adopt them. I was angry at the time and I think this is pretty much the last bit of proof that I needed to be able to say ‘I told them so’. Those ventures were failures and cost SAM cash and opportunities.
Obviously SAM is now a mess. If we had preserved the cash we used to save Eadie’s other investments, or actually had used the money to invest in one of the solid opportunities that existed while REAL companies with REALLY PROMISING assets were being tossed away for nothing, we might be in a better spot today.
sickening