RE:Over-promised, (Overpaid) and Under-deliveredIcarus420 wrote: The buck stops with Terry.
Terry racked up some high-priced acquisitions that are yet to prove their worth. I am going to change Terry's name to Jose Mourinho as Terry reminds me of when Mourinho bought all the best football players for exorbitant prices but couldn't win the Championship.
Instead of shoring up the balance sheet with an equity investment for times like this, Terry opted to go-it-alone. If we had that equity investment, Terry and Cam would probably have been terminated for missing ACB's own guidance, the bloated O/S share count and impending convertible debenture situation. Alas, there's no equity investment so Terry gets to remain as CEO.
As for the shareholders, instead of negotiating from a position of strength, we're negotiating from a position of weakness. Terry is the CEO (for now).
Also, where is Cam and his overzealous exuberance? And what exactly is Peltz up to besides explaining the monumental GE snafu.
I'll reiterate, the skillset required to start a company are vastly different than the skillset required to run a company.
Paying overvalued companies with overvalued stocks, like Aurora was (so the others), is not such a big deal. With cash it wouldn't have made sense.