RE:Use Of Proceeds first thing, reluctantly initiate the change in control provision and fire Ross and completely overhaul the BOD. Hire a CEO with the primary goal of selling FCU - definitely NOT buying back FUU.
Second, secure a small amount to buy some for sale signs and a box of lipstick to dress this pig up.
Third, send a case of wine to NXE begging LC to pull the trigger on a buy out to put us out of our misery.
JMO
RatPatrol wrote: What ALL this money could be used for is most important.
This post may provide some answers as replies are invited.
I'll start by suggesting that FCU mgmt will be trying to patch up, pave over, some of
its mistteps, errors, overshadowing its ability to make itself
more attractive to others.
1) $75-$100 million going towards buying back the 80% of FUU it doesn't already own.
2) Buying properties around FCU's core holdings. Obviously this excludes Nexgen
because Nexgen is too big for FCU to swallow.
Any other ideas?
JMHO