RE: What could make you feel better than havingWhat could make you feel better
I will tell you what certainly would__and that is if the three wise men of ABM had gone after scooping up their only serious aggregates competitor in the Ft Mac area rather than the proposed sweetheart, self enriching AMI deal__which will really not add much value to ABM compared to doing a REAL arms length deal.
I am talking about BMD - Birch Mountain Resources.
They are in the final stage of death throes and have put themselves up for sale a few months ago__about the time the AMI deal was announced.
The scary thing is that now Trilon Partners have a death head lock on BMD via convertible debentures which were issued just last fall__and this means only one thing__Trilon will likely end up with all the assets of BMD for pennies on the dollar.
And once the turn-around pros at Trilon start working on this file, they will most certainly turn BMD into a very aggressive and formidable competitor which will seriously impact the business prospects for ABM/AMI.
This is what the Trilon Partners bread and butter strategy has been__and they are true pros at it__and have huge backing from their parent company BAM - Brookfield Asset Management.
Sadly the $13.5 million being wasted on the AMI non-arms length AMI deal could have been put to MUCH better use going after BMD before Trilon got their hooks into the company.
But this would have required the ABM management to do what is best for ABM and the minority shareholders.
However, this is not usually the case with management of micro-cap companies since all too many CEOs are more interested in doing what is best for them__especially in the case of ''public'' companies where the CEO has built up the assets over many years prior to going public.
And I can understand that__pretty normal for us human mortals.
Nonetheless__It really is too bad__about this missed BMD opportunity.