RE:Blame the BankstersOgopogo,
You made two good points, perhaps 3.
i give you credit.
1. I like your term... you are absoloutley correct. They are Banksters!
2. Pre-approved mortgage. I am pretty sure the Banksters agreed and were onside to fund initially. They were seeing the funding with all green $ in their eyes. They made a ton of fees issuing and underwriting the” Receipts” to fund WGL acquisition. Yes, I agree they overpayed. Previous CEO paid the ultimate price.
3. As for the wife’s jewelry and the R.V. Look at the bright side. Along with the sale, debt was passed on as well in the new ACI IPO. We shareholders retained a 37% interest in the New “Vehicle”
Shxt Happens...... certainly put a spoke in the wheel for many shareholders who were looking to retire early, But, there is RISK in the markets. We have had to read the tea leaves and average down during the last year or so. I am sure this affected our founding Mr.Cornhill as well. You, Ogopogo were not the only one affected.
A Famous Ogopogo once wrote, you can take away my Wife Jewelry, my RV and my HydroDam, but leave me one thing, leave me my people and I will rebuild it all again.... starting with RIPET. This is an amazing feat as fas as I am concerened. RIPET is Canada’s first ever export propane terminal in operation. Let’s give credit where credit is deserved. Let’s look forward.... Look forward to the news of its expansion. Good Luck to you and yours.
Ogopogo007 wrote: Windy - was it the Banksters that put a gun to Cornholes head and made them buy WGL ? NO.
save your wrath and fury for ALA mngmnt.
When you go shopping for a house...do you get pre-approved for a mortgage first? Or go shopping...look...it's got granite countertops...lets buy it, where do I sign? No conditions. Then, when you have to sell your wifes jewellery, your motorbikes & RV in a ...need money by Monday's closing's panic sale...why blame the people financing it because you ended up short of $$$?
But yet that's what you suggest happened here?
And then you find out...the guy that bot your RV just sold it for $236,000,000 more than he bot it for. Smart move. That $236,000,000 could of paid down a lot of debt...but the ALA Chief Apologist....bringing a debt knife to a Market Cap gunfight doesn't see it that way, AYFKM ?
JMHO