CanBanc Income Corp CKNBF

CIC stock price prospects..

[sablesavoy]

Rarely, if ever, do I consider it meaningful to predict short term price moves. Nor do I hold management responsible for the near term stock price. But I do believe, selling on the basis of the CEO resignation and chopping the value of the company on that basis by 25% is unwarranted. Here is why: a) we certainly didn't lose a CEO who had the company in the fast lane; the numbers speak for themselves. b)the current Q shouldn't be any worse than the previous ones and there are still about 25 days left; any delays would, at worst, marginally affect the current Q but should not materially affect future ones. Those who are planning to deploy ECC will not defer it simply because of a CEO departure. Also, CIC hopefully isn't a one man show. CIC burns roughly 4 million in salaries every Q- they better show they can operate successfully with an interim CEO who has been the Chairman for many years. All this company needs is to price its offerings better so as to make money. RSA did that for years. CIC can do it too.- if its absolutely determined to do so. After almost five years, Seguin should have figured out how and insist pricing reflects CIC's fiduciary obligations to its shareholders. This is what CFO's are for- take care of finances on behalf of shareholders. If Seguin can't do it, may be, he should be the next to go. This company needs to improve the earnings picture above all. And the stock price will follow.