RE:RE:Media Central's latest quarterly results are in...It's challenging to find the biggest patsy in this cluster-fork.
If you comprehend anything about the business these guys seem to be in, which is the media business, it's evident what they are not doing. Not distributing their print vehicles, not selling ads, not generating revenue, not maintaining any sustainable income. They have written off their principal business.
So, we turn now to a bag of stale air named Kirk, who is supposed to be the company president, who appears able to easily bamboozle the know-nothing board chair, Mr. Manos. Mr. Manos is a babe in the woods when it comes to the business he now finds himself in.
He relies on this savvy fellow Kirk, who just guided the launch of a sixth-rate content aggregation site called Cratered News, which looks like it was put together by a team of two or three not-especially-talented high-school kids working on a summer project in a church basement in Guelph. Then Kirk convinces Mr. Manos that Cratered News is such a sweet deal that he needs to cut out the Media Central shareholders and take this genius idea private. The MC directors see what's coming and head for the hills.
Meanwhile, the mongoloids and non-functional crowd on CEO.ca cheer on every absurd move, and convince themselves this stock is a rocket to the moon, if only they can catch a break for once.
So, who is the biggest patsy? It's the guy who hasn't figured out any of this yet. It's Mr. Manos.