>>"well trained financial professional" The Well of education, in spelling of the English language must be dry? <<
No need to make fun of my language skill here. I had lived in this country for only several years and I bet my English is far much better than your Chinese even if you lived in China as long as I have lived in here :) I don't deny I make some mistakes when I was in hurry to type something (Sneaked out at lunch time), but given relatively short time frame in this country, I, at least got my MBA from one of the best business schools in the world and employed by a fortune 100 company.
>>With several years of experience in conducting business in China, one would expect you to know of Mr. Wu.<<
No, I don't! Maybe only Mr. wu know whom Mr. Wu is :)
The matter of fact is even my friends in Shenzhen have never heard of him. He maybe a rich guy, but there has never officially published material in China rank the wealth of individuals. People who are rich generally try to avoid tell others how rich they are for several reasons. 1) Tax in China is high. 2)Disparity of income in China is very high. If you are rich, the government will ask our contribution in eduction or other charity, the community expects the same. 3)Many people make money in China illegally. They don't wonna to reveal their wealth for fear government investigation. Over the last two years, Chinese government had arrested several self-per-calimed richest people in China. They raise money illegally and wasted them all. There is a saying in Chinese :"no one will open a business to lose money, but there are people running profit business even his head can be choped off". The fact is that many people live in China had horrible experience in their life. They may not have respect to life any more, not even to their own life. So they can just cheat in anyway to get money and enjoy several years and wait government to arrest them. If they are lucky enought, they can run to other country and hide themself from proscution.
This "mr. wu"'s behavior is very suspicious to me. after all, he, himself, said he is the richest people in China by distribution such info. through his company (or the company he is in charge of) and he is trying raise the capital in US to satisfy his need to expend business??????? I knew that if indeed he is the richest in China, he should be able to finance the company through his own wealth. How much does he has in equity?????
>> I feel secure in knowing Prudential owns 28%+ of the Float.<<
I have answered this question, no need to say it again. One question here: Is Prudential the underwriter? They may have some stock they can't get rid off at the first place.
>>I have no financial training, but have a large amount of common sense.<<
I respect your common sense, but if you have some training in Finance, maybe you have better sight!
Here is some common sense I have regarding the Car rental business in China:
1) In China getting a driver's license is very difficult. You have to go to driving school and pay half year salary of course cost. It take another year to practice when you passed writen exam. So I will not expect 3% of the population can offered to have a drive's license. it may increase dramaticly in next twe years, but don't bet on it. Simply put: knowing how to driving is a professional skill in China that one can live on. Go ask any people from mainland.
2) The road condition is not very good in China, sometime ride a bike is better to ride a cab if the distance is not indeed to far.
3) Lease is not a common practice in China. Many public facilities were vanderized (such as telephone booth) so often that government has to put heavy security on it. How do you expect people taking care of the car they rent?
4) Last, but not the least, do we see any operation histroy of "Mr. wu"??? In fact, Wu in Chinese means No or nothing :)))))
sam
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