An inevitable end for Concordia
Interesting week for Oberman, his failing team, his blah point strategy and for bondholders and longs.
The equity is clearly toast but the story will continue. Cant see why Price would have joined unless he's betting for experience in bankruptcy. Of course we all know that Adeel Ahmad earned his colours at Nortel from 2003-2012 so he will have a thing or two to share with Price. I can't stop laughng at how low a bar this mangement team is. Didnt think one could get more inept.
Why Kreppner is stil there (an MT crew member from Trimel and Biovail) is astonishinging. Then there is that IR guy (the one that doesnt pick up the phone). I hope the lot of them follow MT, Borkowski and Beighton inrto career oblivion, with law on their backs until pension time.
Best thing is that investigations will continue, legal proceedings, fines and charges will no doubt increase, and the truth will follow these characters until karma slaps their souls.
If these leftovers from the 'Thompson Expedtion' get a chance to have a concall 'in the normal course' on May 10th, it will be their last. They cannot guide forward anymore on their NA and UK based busineses, the global businesses were always minor, and quite honestly no one is going to listen/believe them. They will declare that they are bankrupt, the equity will go to zero, give or take 10 cents, and so will begin the uncovering of one major Canadian corporate f-up. We'll be able to look it up under 'bad deal making, big egos, and toxic governance and management'
Funny to see Hulot still hanging around as this board's Golum in the lava. The longs over on the HCG board could sure use his bathroom humor and his cockroach themed art work. Oh, the artwork.
I remember this board from over a year ago and those who were there and who have since come, with awesome insight, analysis and encouragement. A great collegium of minds, and no doubt a group who are wealthier financially now than when the company was "firing on all cylinders"
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