RE:How can they stand it?Mittleman's AUM is down to next to nothing. The Asset Managment business Fee Income does not COVER the SG&A we spend to keep it going, and given the track record for the AUM, it probably never will again. It should be SOLD or merged with another Asset Manager.
Let's hope the Mittleman's and the Brain Trust here on the BOD have enough skin in the game to have the proper incentives for the remainder of Aimia here. Buybacks, NCIB, SIB, Dividends. Rinse and Repeat.
The Buyback business can be a much better business than lots of other things to do with the $$$.
As long as this great discount persists they should continue on this path and buy nothing else but risk free US Treasuries, Agencies, Bank CD's Commercial Paper yields of 4-5.5 %. Virtually risk free.