GREY:LGLTF - Post by User
Post by
banxon Dec 28, 2015 10:12am
275 Views
Post# 24414685
GHOSTS OF FAILURES PAST
GHOSTS OF FAILURES PASTI readily admit, even though I invested in LOY, I wasn't following it too closely.
I took my lumps early and sold out after Ryu beat a hasty retreat.
I'm now back in under KGIC given the share price pummeling that has recently taken place.
The MacGregor factor provides for optimism anew.
While the lingering spectre of Andrew Ryu continues to haunt as well as the bad taste from the mgmt post Ryu, I smell the scent of opportunity.
My associate who is far more familiar with this story offers some more input:
"First off, let me see if I can clear some things up.
They don't need Ryu's votes at all. He is 100% not involved. The votes they need - or I should say the support or blessings - as there was no vote comes from the creditors (mainly BMO who could have pulled the plug if they wanted) as well as their largest institutional shareholder (a fund out of Montreal who owns 19.5%). These are all that mattered. Ryu is a zero in the equation. His opinion means nothing and he had and still has no say in the matter. He is probably laughing inside though at the failure of Shant because it takes the focus of all the negativity off him. Make no mistake though, he had and continues to have zero influence at KGIC today.
Now a comment to the earlier post about parachuting in a pharmacist to run a school. What do you think McGregor does daily? Do you think he runs a pharmacy or makes drugs? No! He runs a school. His students pay full university tuition for a number of semesters and they they take their current degree and turn it into a trade....
McGregor's job is strictly administration and operation. This is what he does. He manages expenses, collections, marketing for students etc....
He has way more operating experience than Andrew did and obviously way more than Shant did (Shant had zero operating experience).
Will there be a bit of a learning curve, of course, we should not be naive as ESL is not exactly the same but a good operator is a good operator.
I sill simply state that KGIC is in better hands now than it was Andrew and Shant.
All the best to you all in the new year. I think we will do well here."