TSX:CUS.DB.D - Post by User
Comment by
philip3on Mar 08, 2014 5:23am
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Post# 22297696
RE:++risk
RE:++risk
Um,
the CEO did not resigned, he was terminated.
It is assessed that the CEO was terminated due to significant cost overuns and questionable management practices following the overun announcement. Much of this was discussed on this board at that time. Boards don't meet frequently and it could have taken some time to decide to terminate him prior to the fiscal year end. I believe the board wants to start the new year fresh and puit the ovveruns in the rear view mirror. A new CEO is how to do that.
This "terrible management" WAS doing an excellent job prior to the project cost overuns. It was a $9 share and a steady dividend payer. It had the support of all major financial institutions.
While I can't call a bottom, I believe bad news has been priced into this stock; maybe twice. I believe once revenue from trains rolling at NATO start to be realised, that this will be a $9 stock again (Dec 2014).