Michael James Financial Blog posted an article on Allen-Vanguard Sept 16th wikinvest.com
I sent him an email, this is his reply and my response.
Dear XXX,
The actions you describe do sound very suspicious. It's not unusual in situations like this for senior management to support a poor bid because the senior management have been promised large bonuses in the form of cash, options, or equity. However, it was my understanding that Allen-Vanguard creditors have accepted a deal that pays them less than the full amount owing. Have they been duped by the actions you describe, or is there some other reason why they would accept this deal?
Michael
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Michael: Not sure how to validate anything that Allen-Vanguard management says about RBC losing money, as information coming from Allen-Vanguard is vague.
Does it seem strange that:
1. RBC's "secured" financing facilitates a private deal, where RBS is losing money ?
2. RBC is content to lose money, without CCAA, bankruptcy, or opening the bid process ?
3. this deal is so shrouded in secrecy - what is there to hide ?
Thank-you for your previous article, and your response to my email.
If you have any ideas how I can protect my family's soon-to-disappear "investment" in Allen-Vanguard, I would appreciate your suggestions.
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He has a good site michaeljamesmoney.blogspot.com and is one of the few who replied to my email. If you want to communicate with someone knowledgeable, who will respond - send him an email.
<michael.james.money@gmail.com> |
