OTCPK:VGIPF - Post by User
Post by
InvestorSuperfanon Jan 23, 2014 3:17pm
340 Views
Post# 22126739
"Budd"ing Controversy
"Budd"ing ControversyI understand the frustration with the antics of Thomas Budd, and a significant amount of the criticism outlined on this bullboard is deserved. However, owners only have two options: Budd's board or FrontFour. Though Budd's behavior is less than commendable, he does seem to have a great deal of experience dealing with situations such as RPL finds itself in presently. The Bloomberg Business Profile states in part: "He has many years of experience providing mergers and acquisitions and financial advice on a significant number of Canada's oil & gas transactions. He served as Co-Head of Corporate Finance - GMP Securities. He has extensive knowledge and expertise and is one of the top advisors on M&A transactions." Further, Mr. Budd was announced as Chairman of the Board at Renegade on October 9, 2013. I don't believe he was on the BOD when the disasterous Penn West asset purchase was made and it's fallout, so I don't think it's fair to blame him for the huge share price drop over the past year. The question is: Is there evidence that the dudes at FrontFour would be better equipped to handle things going forward? Is the plan they presented a good one? Is it detailed enough and distinct enough from what Budd has done to make owners confident that they will do a better job?