What a day for SOLV.
First the Merrill Lynch filing on the shares held by it for the margin loan, which it appears Rendall is considering fighting. This week we have had an evil, Barron's, Dow Jones Newswire, and the Wall Street Journal, and now Merrill Lynch is wrong too.
We also were made aware that Steve Lane was on vacation, and now he no longer is with the company. There has been only great accolades for him by the management, and then while on vacation for whatever reason he is not returning, yet they have a new manager of this state of the art facility just like that. Mmmm. Was he really just on vacation?
What is the background of the new manager? Was someone moved up or was he hired from outside of the company? Anyone know?
Is Rendall really surprised that Merrill would be selling the shares if he does not cover the margin loan based on the fact that the stock is worth 50% of when the loan was issued?
I wonder if this will affect the investment houses decisions in the future based on Merrill's experience. It probably will not help, that's for sure. They have stated they are very positive about the $600,000,000 future funding from various options, we shall see... |
