David, I may have misunderstood your saying: "CLVE has an 80 page document sent to them by GEM", I read it "it is still in transit" (and thus the lawyer did not read it), but may be you meant to say,"... they have a document, it was sent to them ..." Furthermore, the fact that they have that document and did not file it as an 8-K should be a warning signal. Don't you want to know the details? I do presume that you did not read it, should you not know the details summarized so laconically in one sentence in that news release. Don't you think that the details of such a massive document might have a major impact on the company's future?
As for GE, my dear friend, To Paraphrase Senator Bensen, "I knew GE, it has been a personal investment of mine, CLVE is no GE". Yes GE is diversified, with $100 Billions in annual sales, there are not many markets where they could put all these sales, but remembers GE's reason for their phenomenal success, they will not stay in a business unless they can see their way to be #1 or at worst #2 in that business. This CLVE excuse for a company does not have sales and they already diversify. The guy must have never run a company before.
Go ahead respond point by point. You never responded to the question as to why they are buying a company with 15 to 17 months of accounts receivable, you said they plan to expand the fleet (and what go to 34 months receivable?), that does not explain how that acquisition has such horrendous receivable.
Do you understand the implications of a business that has DOS of more than 90, less so of 400 DOS. Gee, my friend Razorbak who specializes in turn around situations would not touch it with a ten foot pole.
Zeev |
