Post by
mathwhiz on Jul 25, 2014 2:48pm
Info Circ
There's definitely a bit of good news in the first few pages that I've had some time to go through. And a bit of bad as well. The bad stuff first... Never let Graeme Ryder choose the name for your new company. His obsession with bikes, cars and all things expensive, which is what he currently spends his days searching on Google, is partially the reason your shares currently hold no real value. Miura? Seriously? Okay then... Mark Smith leading the new company is a good thing. He at least has a brain in his head. Not sure where Penner is going, but jail wouldn't be a bad place for him. Andy is a smart man and has ethics, he just needs to voice them more often. Not a single director from the current Arcan board should hold any position in the new board, most of all Mr. McCoy! It would be interesting to get the breakdown on the RSU's as I am quite sure those didn't actually go to the employees but primarily to the folks with titles. We are giving a cash payment to a group of people as incentive for mis-managing our dollars? And we get what?? I bought back in at $0.78, $0.56, $0.46 and $0.24... Definitely not 'in the money' here... It's good to know that senior management didn't cancel their stock options for 'nominal' consideration, they made sure that the back end deal was cash in hand at a later date when it would be too late for anyone to dispute. They've had to pay employee retention? To whom? Management isn't going anywhere and the actual employees aren't getting a cent. That was a nice way to justify their 'cash in pocket' greedy guts attitude. Can't wait to read how much each of them walk away with. Back to my reading... Only another few hundred pages to go. Bad decisions is what got these guys here in the first place. Their initial offer for Hamburg was around $30 million. They were sure it was worth way more and so declined that offer. They went back begging a year later and sold it for $15 million?